JNJ is weighing on Dow futures this morning
Stock futures are a mixed bag this morning, as Wall Street responds to a variety of headlines. Dow Jones Industrial Average (DJI) futures are modestly lower, turning south after the Food and Drug Administration (FDA) recommended a pause in the Johnson & Johnson (JNJ) Covid-19 vaccine, due to six reported cases of blood clots. Futures on the S&P 500 Index (SPX) are flat while Nasdaq-100 Index (NDX) futures are modestly higher.
Investors are also weighing the latest inflation data, after consumer prices in March rose 0.6% from last month and 2.6% year-over-year. In response, the 10-year Treasury yield is ticking higher, last seen at 1.67%. Elsewhere, Bitcoin is climbing to a new record high.
Continue reading for more on today's market, including:
- Schaeffer's Senior V.P. of Research Todd Salamone connects the dots on the S&P 500's recent behavior.
- We're compiling a master list of options trading terminology.
- Plus, FedEx upgraded; cybersecurity stock gets bleak coverage; and a new Uber rival is going public.
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw roughly 1.6 million call contracts traded on Monday, and 771,063 put contracts. The single-session equity put/call ratio fell to 0.48 and the 21-day moving average stayed at 0.46.
- FedEx Corporation (NYSE:FDX) stock is up 1% in electronic trading, after KeyBanc upgraded the shipping giant to "overweight" from "sector weight." The analyst in coverage sees FDX's potential linked with the return to in-person shopping. Year-over-year, FedEx stock is up 138%.
- NortonLifeLock Inc (NASDAQ:NLOK) stock is down 3.4% ahead of the bell, after Bank of America initiated coverage on the cybersecurity name with an "underperform" rating and $19 price target. NLOK will be facing off with its year-to-date breakeven level today.
- The shares of Altimeter Growth Corp (NASDAQ:AGC) are up 1.8% before the open, after the investment company agreed to take Southeast Asia’s ride-hailing giant Grab public via a Special Purpose Acquisition Company (SPAC) merger. The deal will be valued at nearly $40 billion.
- The consumer price index (CPI) and the core CPI will both come out today. Separately, the National Federation of Independent Business' (NFIB) small-business index will be released.
Asian Markets Climb on Trade Data
Stocks in Asia were mostly higher after today's session, with the exception of China's Shanghai Composite, which finished the day with a 0.5% dip. Chinese exports for March were lower-than-expected, rising 30.6% from a year ago, while imports rose 38.1% last month – beating analyst estimates. Elsewhere, the South Korean Kospi led the winners with a 1.1% pop, while Hong Kong's Hang Seng and Japan's Nikkei rose 0.2% and 0.7%, respectively.
In Europe stocks are mixed midday. London's FTSE 100 is down 0.2%, amid a myriad of economic data. U.K.'s GDP grew 0.4% in February, below analysts' anticipated 0.6%, while manufacturing output rose to a better-than-expected 1.3%, and services output missed expectations with a growth rate of 0.2%. Meanwhile, the French CAC 40 has tacked on 0.2%, and the German DAX enjoys is up 0.09% .