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.

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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.

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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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