Dow Futures Point Toward More Record Highs

Futures on the S&P 500 and Nasdaq are more muted

Managing Editor
Mar 15, 2021 at 9:18 AM
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Stock futures are a mixed bag this morning. Looking to build on Friday's record close, futures on the Dow Jones Industrial Average (DJI) are eyeing a modest open higher.  S&P 500 Index (SPX) futures are more muted, while Nasdaq-100 Index (NDX) futures are pointed toward the red, as the 10-year Treasury bond yield remains a chip-shot from annual high levels. Despite stimulus optimism, investors are cautious ahead of the Fed meeting later this week, while also weighing states' reopening measures with ramped up Covid-19 vaccination efforts.

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

  • Founder and CEO Bernie Schaeffer breaks down why bond yields popped last  week. 
  • Consider this retail stock ahead of its earnings report. 
  • Plus, PENN to join S&P 500; airline sector tailwinds; and a big move in the biotech sphere.

OV Futures Chart March 15

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.94 million call contracts traded on Friday, and 864,000 put contracts. The single-session equity put/call ratio stayed at 0.44 and the 21-day moving average rose to 0.46.
  2. The shares of Penn National Gaming, Inc (NASDAQ:PENN) are up 5.8% ahead of the open, after it was announced the casino stock would join the S&P 500 as part of the quarterly rebalancing. PENN is fresh off a record high of $132.76 on Friday, and is up 745% year-over-year.
  3. American Airlines Group Inc (NASDAQ:AAL) is up 4.1% before the bell, as the entire airline sector enjoys tailwinds from a Transportation Safety Administration (TSA) report that said airline screenings are at 12-month highs. AAL scored an annual high of $23.54 on Friday, and has already tacked don 48% in 2021. 
  4. GenMark Diagnostics, Inc (NASDAQ:GNMK) is up an absurd 29% in electronic trading, after the biotech firm announced the acquisition of Swiss drugmaker Roche for $1.8 billion in cash. GNMK is up 208% in the last 12 months.
  5. Investors will ease into the week, with the Empire State Manufacturing Index due out. 

OV Buzz Chart March 15

U.S. Fed Meeting in Focus Overseas 

Markets in Asia closed mixed on Monday, as investors kept a close watch on the U.S. ahead of its Fed meeting, slated for later this week. Also of note is a surge in Tokyo-based Rakuten (RKUNY) stock, following its $2.2 billion sale of new shares. In response, Japan’s Nikkei jumped 0.2%, Hong Kong’s Hang Seng added 0.3%, while China’s Shanghai Composite and South Korea’s Kospi shed 1% and 0.3%, respectively.

A leap in travel stocks and focus on the aforementioned Fed meeting stateside had European indexes mostly flat in afternoon trading. The shares of Danone (DANOY) are seeing a notable lift, however, after Chairman and CEO Emmanuel Faber was pressured by investors to step down. At last check, London’s FTSE 100 and Germany’s DAX are both down 0.01%, while France’s CAC 40 inches 0.08% higher.

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