Stock Futures Pointed Lower Following Monday's Selloff

Investors are keeping an eye on today's Senate runoff elections in Georgia

Digital Content Manager
Jan 5, 2021 at 9:22 AM
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Stock futures are extending their losses this morning, after the first trading day of 2021 ended on a sour note. Futures on the Dow Jones Industrial Average (DJI)S&P 500 Index (SPX), and Nasdaq-100 Index (NDX) are all slightly below fair value, in response to yesterday's broad-market selloff as well as rising COVID-19 cases across the globe. Investors are also keeping an eye on today's Senate runoff elections in Georgia, which could give Democrats the majority.

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

  • This Russian tech stock's rally will not slow down.
  • Keep an eye on these key market levels in 2021.
  • Plus, LULU scores analyst praise; First Solar stock plummeting after double downgrade; and Israel approves MRNA's COVID-19 vaccine.

stock futures chart jan 5

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.8 million call contracts traded on Thursday, and 852,916 put contracts. The single-session equity put/call ratio fell to 0.47 and the 21-day moving average rose to 0.44. 
  2. Lululemon Athletica Inc (NASDAQ:LULU) is down 0.2% before the bell, despite Deutsche Bank calling the security a "catalyst call buy." The analyst in coverage believes the athletic apparel retailer outperformed over the holiday season, and expects an upbeat earnings report next week. Year-over-year, LULU is up 53.2%.
  3. First Solar, Inc. (NASDAQ:FSLR) is down 4.5% in electronic trading, after it received a double downgrade from Goldman Sachs to "sell" from "buy." The firm noted the solar concern's earnings and margins are peaking, and that additional business headwinds could emerge. In the last nine months, however, FSLR has gained 175.5%.
  4. The shares of Moderna Inc (NASDAQ:MRNA) are up 1.2% in pre-market trading, after Israeli health officials approved the use of its COVID-19 vaccine, making it the third country outside of North America to do so. Year-over-year, MRNA sports a 491.5% lead. 
  5. Today brings the ISM manufacturing index, as well as motor vehicle sales data.

OV buzz chart jan 5

European Stocks Drop on Lockdown News

Asian markets ended mostly higher today, with the exception of the Nikkei in Japan, which dropped 0.4%, on news that the government could be declaring a state of emergency in Tokyo later this week, as coronavirus cases continue to rise. Meanwhile, the New York Stock Exchanged (NYSE) reversed its decision to delist three Hong Kong-listed telecommunication heavyweights, China Telecom (CHA), China Unicom (CHU), and China Mobile (CHL), sending the Hong Kong Hang Seng up 0.6%, while the Chinese Shanghai Composite added 0.7%, and the Kospi in South Korea rose 1.6%.

European markets, however, are mostly lower midday, dampened by the growing number of COVID-19 cases and news of England’s third national lockdown. At last check, the London FTSE is fractionally lower, while the French CAC is eyeing a 0.7% drop. Meanwhile, extended lockdown measures in Germany are also stifling investor optimism, with the DAX down 0.7%.

Trader: Sell These 8 Stocks in 2021

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