Stock Futures Soar After Goldman Earnings, Retail Sales

A surprise rise in retail sales in September has Wall Street buzzing

Assistant Editor
Oct 15, 2021 at 9:17 AM
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Stock futures are pointed confidently higher this morning, thanks to encouraging earnings reports and a surprise rise in September retail sales. Dow Jones Industrial Average (DJI) futures are indicating a 200-plus point pop at last check, while S&P 500 (SPX) and Nasdaq-100 (NDX) futures are also eyeing outsized opens.

A top-line beat from blue-chip bank giant Goldman Sachs (GS) extends the optimism of the nascent earnings season, while retail sales rose 0.7% in September, surpassing the 0.2% decline expected by analysts. Elsewhere, volatile cryptocurrency Bitcoin (BTC) is on the upswing, last seen rocketing toward $60,000.

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

  • How to choose the right stock for your portfolio.
  • Netflix stock cools ahead of earnings next week. 
  • Plus, PSO's plummet; TFC's upbeat quarterly report; and MRNA's FDA buzz.

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5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.8 million call contracts traded on Thursday, compared to 854,832 put contracts. The single-session equity put/call ratio fell to 0.45, and the 21-day moving average stayed at 0.50.
  2. Pearson PLC (NYSE:PSO) is down 12.5% in electronic trading, after the textbook name said higher education sales have fallen 7% this year, as college enrollment decreased due to the pandemic. Year-over-year, the equity is up 35.9% coming into today. 
  3. As bank earnings continue, Truist Financial (NYSE:TFC) is in the spotlight after its upbeat third-quarter report. The company reported earnings of $1.42 per share, well above analysts' estimated $1.21 per share, as well as better-than-expected revenue. Climbing back toward its May highs, TFC is up 1.2% pre-market.
  4. Moderna Inc (NASDAQ:MRNA) is up 2.5% before the bell, after the U.S. Food & Drug Administration (FDA) recommended the approval of its Covid-19 vaccine booster dose. Reclaiming support at the significant 100-day moving average yesterday, MRNA is up 217.7% year-to-date. 

  5. Today will bring the import price index, the Empire State manufacturing index, the consumer sentiment index, and business inventories. 

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Stocks Higher in Europe, Asia

Asian stocks finished higher on Friday as investors eyed big gains for the Taiwan Taiex, which added 2.4% for the day after shares of Semiconductor Manufacturing Company surged on well-received earnings. In response, the Nikkei in Japan rose 1.8%, the Hong Kong Hang Seng added 1.5%, the Shanghai Composite in China was 0.4% higher, and the South Korean Kospi enjoyed a 0.9% rise.

Over in Europe, stocks are also higher as the major bourses look to the strong start of another earnings season. The London FTSE 100 is 0.2% higher, while the German DAX is up 0.4%. Meanwhile, the French CAC 40 is also up 0.4% as investors digest the country’s consumer price index, which rose 0.2% in September, and 2.7% on an annual basis.

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