Big Tech Dragging Down Stock Futures Once More

Rising bond yields continue to create tension, too

Deputy Editor
Feb 23, 2021 at 9:22 AM
facebook X logo linkedin

Stock futures are in varying degrees of red this morning. Futures on the Dow Jones Industrial Average (DJI) are marginally lower, while S&P 500 Index (SPX) futures are eyeing a modest dip. However, the big story this morning is Nasdaq-100 Index (NDX) futures, deep in the red and poised to extend yesterday's steep drop, as Big Tech continues its selloff. Elsewhere, investors are unpacking a slew of retail earnings, while rising bond yields continues to cause tension on Wall Street. 

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

  • Options traders run to RIOT amid pullback. 
  • The gold miner stock being dug up by options bulls.
  • Plus, HD drops on uncertain future; AMC rises on opening buzz; and SHOP falls after share offering. 


5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 2.4 million call contracts traded on Monday, and 1 million put contracts. The single-session equity put/call ratio stayed at 0.43 and the 21-day moving average stayed at 0.41.
  2. Home Depot Inc (NYSE:HD) stock is down 2.4% ahead of the bell, despite reporting better-than-expected fourth-quarter earnings and revenue. However, the company neglected to provide a full-year forecast due to pandemic uncertainty, saying they are unable to predict how consumer spending will evolve. Year-over-year, HD is up 12.4%. 
  3. One of 2021's intriguing stocks thanks to its speculative trading skyrocket, the shares of AMC Entertainment Holdings Inc (NYSE:AMC) are up 4.6% in electronic trading. This rise comes after New York City announced it would be opening its theaters with limited capacity in early March. Year-to-date, the equity is up an impressive 209%. 
  4. Shopify Inc (NYSE:SHOP) is down 7.7% ahead of the open this morning, after the Canada-based e-commerce company announced a public share offering of 1.18 million shares at $1,315 per share. Dropping lower from this month's record highs, the security is up 22% year-to-date coming into today.
  5. Today's economic data will feature the FHFA home price index and the consumer confidence index.    


Stocks Mixed in Asia, Europe, Too

Asian markets were mixed on Tuesday, as investors monitored Big Tech’s slide on Wall Street. They were also digesting better-than-expected earnings from HSBC, with the bank reporting a 34% profit drop for 2020 before taxes, and announcing an interim dividend of 15 cents per share. In response, Hong Kong’s Hang Seng added 1%, while China’s Shanghai Composite and South Korea’s Kospi fell 0.2% and 0.3%, respectively. Elsewhere, Japan’s Nikkei was closed for a holiday.

European markets are mixed as well, with fears related to rising bond yields weighing heavy on investors’ minds. Just yesterday, European Central Bank (ECB) President Christine Lagarde said the bank is “closely monitoring the evolution of long-term nominal bond yields.” In terms of data, euro zone inflation jumped 0.2% for January, after several months of falling prices. Meanwhile, the British government announced plans to lift lockdowns measures by June 21. At last check, the German DAX is down 0.9%, while the French CAC 40 is slightly above breakeven with a 0.09% gain, and London’s FTSE 100 is registering flat with a 0.01% loss.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI