Stock Futures Flat Despite Encouraging Jobless Claims

Initial and continuing jobless claims came in below Wall Street's expectations

Digital Content Manager
Apr 22, 2021 at 9:15 AM
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Futures on the Dow Jones Industrial Average (DJI) are slightly below fair value this morning, just a day after the major indexes broke out of a two-session slump thanks to reopening stocks. Similarly, S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are muted as well. Traders are still sifting through the latest round of first-time jobless claims, which came in at a pandemic-low 547,000 for the week, as opposed to the 603,000 estimates. Plus, continuing claims also dropped, signaling a move towards pre-pandemic employment levels. 

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

  • This chip stock could surge back to record levels.
  • Why Lennar stock is the right bet for options bulls.
  • Plus, American Airlines touts positive cash flow; AT&T pops after quarterly beat; and Chipotle's impressive comparable sales jump.

OV Chart 0422

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.5 million call contracts traded on Wednesday, and 653,118 put contracts. The single-session equity put/call ratio fell to 0.43 and the 21-day moving average stayed at 0.46.
  2. American Airlines Group Inc (NASDAQ:AAL) is up 2.6% before the bell, despite the company posting wider-than-expected quarterly losses. However, the airline noted its cash flow turned positive -- minus debt payments -- at the end of the quarter. Year-to-date, AAL is up 33%.
  3. Phone carrier AT&T Inc. (NYSE:T) is up 4.1% ahead of the open. The company posted quarterly earnings and revenue that came above Wall Street's estimates, noting it added a higher number of wireless customers than analysts predicted. AT&T stock will be looking to distance itself from its year-to-date breakeven level today.
  4. The shares of Chipotle Mexican Grill, Inc. (NYSE: CMG) are up 1.3% in electronic trading, after the restaurant concern reported quarterly earnings that beat analysts' estimates, as well as a 17.2% jump in comparable-store sales. Plus, the company expects a 30% increase in comparable sales, as clients return to brick-and-mortar locations. CMG is up 91% in the last 12 months.
  5. Existing home sales data is due out today.


European Markets Rise Thanks to Earnings, Policy Rates

Stocks in Asia were mostly higher in today's session, with the exception of China's Shanghai Composite, which finished the day with a 0.2% drop. Leading the winners, Japan's Nikkei rebounded today with a 2.4% pop, while the South Korean Kospi and Hong Kong's Hang Seng added 0.2% and 0.5%, respectively.

In Europe, shares are on the rise midday, as investors take a look at earnings from companies such as Nestle and Renault and the European Central Bank (ECB) kept policy rates unchanged. London's FTSE 100 is up 0.1% at last check, while the French CAC 40 rises 0.7%, and the German DAX jumps up 0.6%.


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