Stock Futures Higher, Set to Extend Wins as Tech Shares Rise

Bitcoin is continuing to recover after its hefty selloff

Deputy Editor
May 21, 2021 at 9:12 AM
facebook X logo linkedin


Building off of yesterday's win, stock futures are set to open higher this morning thanks to Thursday's positive jobs data and investors' reconciliation with technology shares. Futures on the Dow Jones Industrial Average (DJI) were nearly 150 points higher at last check. Meanwhile, major tech shares are rising on bitcoin's rebound, helping S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures to open in the black. Investors are also keeping an eye on dairy alternative Oatly (OTLY), which will make its public trading debut today.

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

  • Foot Locker stock slips ahead of earnings.
  • This education stock is a top summer stock pick.
  • Plus, more on Buckle's earnings call; DECK soars on top- and bottom-line beats; and Moderna's vaccine approved in 2 more countries.

FUtures Chart May 21

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.5 million call contracts traded on Thursday, and 744,983 put contracts. The single-session equity put/call ratio fell to 0.48 and the 21-day moving average stayed at 0.52.
  2. Buckle Inc (NYSE:BKE) is up 5.3% ahead of the bell, after store reopenings helped the company to a first-quarter earnings and revenue win. The accessories retailer reported earnings of $1.16 per share, well above Wall Street's estimates of 43 cents per share. Year-to-date, BKE is up 36.5%.
  3. The shares of Deckers Outdoor Corp (NYSE:DECK) are up 7.6% before the open, after the company reported fiscal fourth-quarter top- and bottom-line beats. Specifically, the UGG and Teva parent reported earnings of $1.18 per share on revenue of $561.19 million, but handed out a mixed forecast. Today's rally will add to the equity's 91.5% year-over-year lead.
  4. Drugmaker Moderna (NYSE:MRNA) just had its Covid-19 vaccine approved by Japanese and South Korean regulators, helping the security to a 1.4% pre-market pop. A surefire pandemic bet, MRNA is up 58.9% in 2021.
  5. Today features the Markit manufacturing purchasing managers' index (PMI), Markit services PMI, and existing home sales.

BuzzMay21

Asian Stocks Mixed Following Wall Street's Gains

Asian markets were mixed on Friday, following Wall Street’s overnight gains. Leading the gainers was Japan’s Nikkei, which added 0.8%. Meanwhile, Hong Kong’s Hang Seng closed slightly above breakeven with a 0.03% gain, after tech giant Tencent posted outsized losses, despite a 65% surge in quarterly profits. Elsewhere, China’s Shanghai Composite fell 0.6%, while South Korea’s Kospi shaved 0.2%.

Across the pond, markets are mostly higher, as investors digest a slew of upbeat economic data. More specifically, flash PMI (purchasing managers’ index) data showed economic activity growth in the United Kingdom is the strongest it has ever been. The U.K.’s IHS Markit composite PMI also hit a new record, while retail sales doubled analysts’ estimates. Plus, business is growing at its fastest rate in over three years in the euro zone, thanks to ramped up vaccinations. As a result, France’s CAC 40 was last seen up 0.6%, the German DAX is up 0.4%, and London’s FTSE 100 is slightly below breakeven with a 0.05% loss.

 

*SPONSORED CONTENT*

How to collect 1 dividend check every day for LIFE

Did you know you could collect 1 dividend check every day the market is open? You could also do it starting with just $605! For me, I'm collecting 70 dividend checks every quarter…which averages around 1.1 dividend checks every business day. There's no trading behind this... no penny stocks or high-risk investments. All you do is buy and hold and you're set. There's no set up required either. If you start buying the dividend stocks I show you today... you could collect 1 dividend per day starting as early as this week. Click here for all the details.

*SPONSORED CONTENT*