Stock Futures Rise as Bond Yields Pull Back

The consumer sentiment index is due out later today

Deputy Editor
Jun 11, 2021 at 9:17 AM
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Stock futures are on the rise this morning, taking cues from the S&P 500 Index (SPX) finally scoring a record close yesterday.  Dow Jones Industrial Average (DJI) and Nasdaq-100 (NDX) futures are poised for a higher open too, as the 10-year Treasury yield pulls back to 1.44% in the wake of yesterday's inflation data. Meanwhile, various "meme stocks" have also pulled back, while investors will be eyeing the consumer sentiment index after yesterday's influx of economic data. 

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

  • Why you should buy calls on Wells Fargo stock
  • A Covid vaccination app sent this health services name soaring. 
  • Plus, entertainment name boosted after earnings, drugmaker plummets, and a lithium stock in trouble. 

futures 0611

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.9 million call contracts traded on Thursday, and 833,693 put contracts. The single-session equity put/call ratio rose to 0.43 and the 21-day moving average fell to 0.48.
  2. Dave & Busters Entertainment Inc (NASDAQ:PLAY) is up 5% before the bell, after the company reported much better-than-expected first-quarter earnings per share and provided an upbeat second-quarter forecast. In response, no fewer than three analysts lifted their price targets. 
  3. The shares of Vertex Pharmaceuticals Inc (NASDAQ:VRTX) are plummeting ahead of the open, down 14.2%, following news that the drugmaker halted the development of its candidate VX-864, a genetic disorder treatment, though its mid-stage study met its main goal. At last check, eight analysts slashed their price targets. 
  4. Livent Corporation (NYSE:LTHM) is down 3.5% in electronic trading, after the lithium company priced its offering of 13 million shares of common stock at $17.50 per share. The company plans to use the profits for lithium capacity expansion, general purposes, and debt repayment.
  5. Today will feature the consumer sentiment index


Stocks Higher in Europe, Asia 

Stocks in Asia were mostly higher on Friday, with the exception of China’s Shanghai Composite, which fell 0.6%, weighed down by losses in the liquor and financial sectors. Meanwhile, the Nikkei in Japan finished the day flat, shedding just 0.03%. Elsewhere in the region, traders took cues from the SPX in the U.S., and the BSE Sensex in India – both of which are coming off fresh record highs. The Hong Kong Hang Seng added 0.4%, and the South Korean Kospi tacked on 0.8%.

Stocks in Europe are looking to close the week on a high note, as the bourses mull over a hotter-than-expected inflation reading out of the U.S., and look ahead to the Group of Seven (G-7) summit, which meets today in Cornwall, U.K. Prime Minister Boris Johnson is expected to contribute 1 billion Covid-19 vaccine doses to countries lacking similar resources. At last glance, the London FTSE 100 and German DAX are both up 0.5%, and the French CAC 40 is 0.7% higher.


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