Stock Futures Push Past Shaky Inflation Data

The U.S. consumer price index (CPI) showed the inflation rate at a 13-year high

Deputy Editor
Jun 10, 2021 at 9:13 AM
facebook twitter linkedin

Stock futures are seeing volatile price action ahead of the bell. After initially pointing lower earlier in the morning, Dow Jones Industrial Average (DJI) futures are up over 100 points at last check, while S&P 500 Index (SPX) futures stay flat and Nasdaq-100 (NDX) futures move lower. There is plenty of economic data to unpack, including long-awaited inflation data, which shows U.S. consumer prices up 5% year-over-year -- its fastest pace since the 2008 -- and gaining 0.6% in May. Meanwhile, initial jobless claims came in at 376,000 for last week, which is higher than the expected 370,000 but still at a post-pandemic low. 

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

  • Fast food giant plummeted after its "meme stock" surge.
  • This pot stock was a part of the recent Reddit rally. 
  • Plus, RH surges after earnings; BARK receives fresh analyst coverage; and cloud stock downgraded.  

Futures 0610

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 2.2 million call contracts traded on Wednesday, and 800,221 put contracts. The single-session equity put/call ratio rose to 0.36 and the 21-day moving average fell to 0.49.
  2. RH (NYSE:RH) is up 8.9% in pre-market trading, after the home improvement name reported better-than-expected first-quarter earnings and revenue, and raised its full-year forecast. To follow, no fewer than eight analysts lifted their price targets. 
  3. Jefferies initiated coverage on the Original Bark Company (NYSE:BARK) with a "buy" rating and $14 price target, citing the company's growth and its valuation compared to its sector peers. Looking to extend yesterday's 9.1% pop, BARK is up 2% before the bell.
  4. Fastly Inc (NYSE:FSLY) is down 2.6% in electronic trading, after Oppenheimer downgraded the stock to "perform" from outperform." Though the firm acknowledges that the cloud name reacted quickly to this week's internet outage, it also notes the low cost to customers switching providers. 
  5. Today will also bring the Federal budget balance


International Markets Watch Inflation Data

Asian markets were mostly higher on Thursday, with the exception of the Hong Kong Hang Seng, which shed 0.01%. At the time, investors were awaiting U.S. inflation data, which has been highly anticipated all week, globally. The Shanghai Composite in China rose 0.5%, the South Korean Kospi added 0.3%, and the Nikkei in Japan saw a 0.3% jump.

Meanwhile, in Europe, stocks are mixed, amid news that the European Central Bank (ECB) chose to hold interest rates steady, even after it overestimated its inflation target. The London FTSE 100 is up 0.2%, which investors also keeping an eye on U.K. Prime Minister Boris Johnson’s meeting with U.S. President Joe Biden ahead of the Group of 7 (G-7) gathering, which begins Friday. Elsewhere in the region, the French CAC 40 is down 0.4%, and the German DAX is 0.08% lower.



Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 



Special Offers from Schaeffer's Trading Partners