Dow Futures Modestly Higher on Upbeat Jobs Data

Meanwhile, investors are keeping an eye on any stimulus updates

Assistant Editor
Dec 3, 2020 at 9:29 AM
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Futures on the Dow Jones Industrial Average (DJI)  are pointed marginally higher in pre-market trading, as Wall Street keeps an eye on any updates about a second stimulus package from congress. S&P 500 (SPX) and Nasdaq Composite (IXIC) futures are somewhat static this morning, too, with the SPX clinging close to fair value following its second-straight record close. Meanwhile, good news came in the way of jobs data, as weekly jobless claims came in at 712,00 for last week -- lower than the expected 780,000. 

Continue reading for more on today's market, including:

  • Teladoc stock could soon overcome pressure on the charts. 
  • A look at Pfizer's bullish options surge after its vaccine update. 
  • Plus, the retailer plummeting after third-quarter losses; analysts chime in on CRWD after earnings; and SFIX drops on a downgrade. 

FuturesDec3

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.9 million call contracts traded on Wednesday, and 799,956 put contracts. The single-session equity put/call ratio rose to 0.40 and the 21-day moving average stayed at 0.43. 
  2. Express (NYSE:EXPR) is down a whopping 24.4% in pre-market trading, after much steeper-than-expected third-quarter losses per share alongside a revenue miss. Heading into today, the equity is down 67.6% year-to-date. 
  3. CrowdStrike (NASDAQ:CRWD) is up 12.3% before the bell, after positive third-quarter results and an upbeat fourth-quarter forecast. To follow, no fewer than nine analysts raised their price targets, with the highest from Needham to $200. Coming into today, the security is posting a 184.4% year-to-date gain. 
  4. Stitch Fix (NASDAQ:SFIX) is down 3.3% in electronic trading, after Wells Fargo downgraded the stock to "underweight" from "equal weight," citing an unfavorable risk/reward model moving forward. Up 53.5% in 2020, the analyst in coverage sees SFIX's rally running out. 
  5. Today will bring Markit Services PMI and ISM services index information. 

Buzz Chart Dec 3

Asian, European Stocks Mixed

Asian markets were mixed today, as investors unpacked the results of the Caixin/Markit services Purchasing Managers’ Index (PMI) for November, which came in higher than October’s reading at 57.8, signifying expansion. Nonetheless, Japan’s Nikkei dropped 0.03%, and China’s Shanghai Composite pulled back 0.2%. Elsewhere, South Korea’s Kospi was 0.8% higher, and Hong Kong’s Hang Seng added 0.7%.

Meanwhile, European stocks are mostly lower, on trend with the lukewarm trading activity seen in other global markets. Investors are keeping a close eye on stimulus discussions in Washington, and waiting for a coronavirus vaccine approval in the U.S. In turn, the German DAX was last seen down 0.5%, while France’s CAC 40 has dropped 0.4%. Elsewhere, London’s FTSE 100 is up 0.3%.

 

 

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