Dow Futures Propped Up by Disney Earnings

The Dow and S&P 500 are fresh off their third-straight record close

Digital Content Manager
Aug 13, 2021 at 9:18 AM
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Futures on the Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) are pointed higher this morning, with the two major benchmarks eyeing weekly wins after notching their third-straight record closes yesterday. Meanwhile, Nasdaq-100 Index (NDX) futures are eyeing a marginal move lower, as the tech-heavy index stands out as a clear underperformer this week. Contributing to today's optimism is a strong earnings report from blue chip Walt Disney (DIS).

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

  • Checking in on this surging retail giant ahead of earnings.
  • Micron Technology stock took a hit after a hefty bear note.
  • Plus, unpacking Walt Disney's blowout earnings; video game stock upgraded; and what is hurting DoorDash stock.

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5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.7 million call contracts traded on Wednesday, compared to 944,014 put contracts. The single-session equity put/call ratio rose to 0.53 and the 21-day moving average jumped to 0.53 as well.
  2. Walt Disney Co (NYSE:PLTR) stock is up 4.6% in electronic trading, after the company reported blowout second-quarter earnings and revenue. The entertainment concern attributed the upbeat results to people returning to U.S. theme park, well as strong growth for streaming service Disney+, though it warned the Covid-19 delta variant could have a future impact. Year-over-year, the security boasts a 36% lead.
  3. The shares of Activision Blizzard, Inc. (NASDAQ:ATVI) are up 1.2% ahead of the bell, after the videogame name earned an upgrade from Citi to "buy" from "neutral." The analyst in coverage noted the equity's risk/reward profile, which has become more attractive since its latest pullback. The stock is still struggling with overhead pressure at the 40-day moving, and over the last six months has shed 17.5%.
  4. Food delivery stock DoorDash Inc (NYSE:DASH) is down 4.6% before the open, after the company posted wider-than-expected second-quarter losses. However, its revenue came in above analysts' estimates, thanks to a 70% year-over-year jump in gross order volume. Yea-to-date, DoorDash stock sports a healthy 31.8% lead.
  5. investors will be keeping an eye on the import price index, and the University of Michigan's consumer sentiment index today.

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Asian Markets Dip Amid Samsung Electronics Selloff

Asian markets closed the week out in the red, led by South Korea’s Kospi, which shed 1.2%. South Korean tech giant Samsung Electronics fell 3.4% after the company’s Vice Chairman Jay Y. Lee was released from prison, spearheading a selloff in the country to cap off a dismal week for the Kospi. Elsewhere, Hong Kong’s Hang Seng and China’s Shanghai composite dipped 0.5% and 0.2%, respectively, while Japan’s Nikkei gave back 0.1% to round out the region.

Markets in Europe are looking to end the week on a more positive note. Investors continue to monitor the Covid-19 situation and a slew of global economic indicators, including upbeat weekly jobless claims out of the U.S. The German DAX is getting some additional help, last seen up 0.4%, after sportswear giant Adidas sold Reebok to Authentic Brands for up to $2.5 billion. Meanwhile, London’s FTSE 100 is also 0.4% higher, while the CAC 40 in France sports a 0.3% lead.

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