AAL

Dow, S&P 500 Futures Eye Another Round of Fresh Highs

Energy stocks are on the rise this morning

Digital Content Manager
May 10, 2021 at 9:17 AM
facebook X logo linkedin


Stock futures are looking at another mixed morning, with the Dow Jones Industrial Average (DJI) pointed roughly 130 points higher, set for another fresh high right out of the gate, while the, S&P 500 Index (SPX) is also poised for more records. The two major indexes are being inflated by a rise in energy stocks, after a ransomware attack pushed the United State's Colonial Pipeline to close this weekend. Meanwhile, futures on the Nasdaq-100 Index (NDX) are inching lower, as the increasingly volatile tech sector turns sour once again, weighed down by a slew of analyst bear notes.

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

  • Founder and CEO Bernie Schaeffer dives into if copper's recent run will be here to stay.
  • Breaking down Riot Blockchain stock ahead of its earnings event. 
  • Plus, COTY dips on YoY sales drop; BNTX topples estimates; and SPG jumps on Eddie Bauer buyout buzz. 

futures chart may 10

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.7 million call contracts traded on Friday, and 873,877 put contracts. The single-session equity put/call ratio fell to 0.51 and the 21-day moving average stayed at 0.48.
  2. The shares of Coty Inc (NYSE:COTY) are off 4.6% in premarket trading following the cosmetics company's fiscal third-quarter report. The firm's earnings and revenue both matched expectations. However, a 3.3% year-over-year drop in sales in weighing on shares, though in 2021%, the stock has more than doubled, up 109% year-to-date coming into today. 
  3. BioNTech SE (NASDAQ:BNTX), on the other hand, is soaring after the company posted first-quarter profits and revenue that exceeded expectations. The pharma concern also said no current evidence suggests it will need to adapt its Covid-19 vaccine to mutating variants of the virus, though it is prepared to do so if needed. Should today's gains hold, the equity will be well on its way back toward its early May peak of $213.15. 
  4. Simon Property Group Inc (NYSE:SPG) just announced it will be purchasing Eddie Bauer from private equity firm Golden Gate Capital with Authentic Brands, though the monetary details of the deal are unknown. SPG is up 0.5% ahead of the bell in response, adding to its impressive 119% year-over-year lead. 
  5. Monday's calendar is relatively bare, with no economic data on the books.

OV Buzz May 10

Overseas Markets Mixed on U.S. Jobs Data, Interest Rate Speculation

Asian markets were mostly higher on Monday. Investors brushed off a disappointing U.S. jobs report for April, and monitored an advance in oil futures following a cybersecurity attack that left some of the largest stateside pipelines closed. Leading the gainers was South Korea’s Kospi, which rose 1.6%, followed by Japan’s Nikkei, which added 0.6%. Elsewhere, China’s Shanghai Composite added 0.3%, while Hong Kong’s Hang Seng finished slightly below breakeven with a 0.05% loss.

European markets are mostly lower, on the other hand. Traders are still weighing the prospects of an extended period of lower interest rates in the U.S., in the wake of rising unemployment numbers and the lackluster nonfarm payrolls report. At last check, France’s CAC 40 is down 0.2%, the German DAX has fallen 0.1%, and London’s FTSE 100 is slightly above breakeven with a 0.07% gain.

 

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.