Dow Futures Climb After Pfizer Earnings

The Federal Reserve's two-day meeting kicks off later today

Managing Editor
Nov 2, 2021 at 9:16 AM
facebook X logo linkedin


Futures on the Dow Jones Industrial Average (DJI) are pointing toward a modest pop on Election Day, as Wall Street looks to build on yesterday's strong start to November. An upbeat quarterly report from blue-chip drugmaker Pfizer (PFE), is fueling the early-morning optimism. S&P 500 (SPX) and Nasdaq-100 (NDX) futures are indicating more of a choppy open though, the latter weighed down by premarket losses from Tesla (TSLA). Looking ahead, the Federal Open Market Committee's (FOMC) two-day meeting begins today, with investors keen for clues about the tapering of bond purchases. 

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

  • Schaeffer's Senior V.P. of Research Todd Salamone unpacks the latest NDX breakout.
  • Why Pure Storage stock is the right pick for options bulls.
  • Plus, top-line beats for Under Armour and Clorox; plus a big day for FuelCell stock.

OV Futures Chart Nov 2

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 2.1 million call contracts traded on Monday, compared to 850,869 million put contracts. The single-session equity put/call ratio fell to 0.40, and the 21-day moving average stayed at 0.48.
  2. Under Armour Inc (NYSE:UAA) stock is up 10.3% before the bell, after the athleisure retailer reported earnings and revenue that topped analyst forecasts. Under Armour also upped its full-year guidance. Heading into today, Under Armour stock is up 28% year-to-date.
  3. Clorox Co (NYSE:CLXstock is up 2.1% ahead of the open, after the household products name scored a top-line beat and reaffirmed its full-year forecast. CLX is down 19% in 2021, and hit a more than one-year low of $156.23 on Oct. 19. 
  4. The shares of FuelCell Energy Inc (NASDAQ:FCEL) are up 7.2% in electronic trading, after the clean energy company agreed to extend the joint development agreement it has with Exxon Mobil (XOM) for carbon capture technology. FuelCell stock is up 50% in the last three months.
  5. There are no economic indicators of note besides a homeownership rate update.

buzznov2

European Investors Eye More Earnings

Asian markets were mostly lower today, as shares of major real estate firms fell in the region, reigniting fears surrounding China’s battered property sector. China’s Shanghai Composite and Hong Kong’s Hang Seng slipped 1.1% and 0.2%, respectively, after developer Yango Group was downgraded and the firm proposed swapping some U.S. dollar bonds for new notes in an effort to “avoid imminent payment defaults.” The Nikkei in Japan, meanwhile, took a 0.4% haircut. Rounding out the region, the South Korean Kospi rose 1.2%, led by shares of industry heavyweight Samsung.

Stocks across the pond are mixed this afternoon, as European investors gear up for more corporate earnings, as well as the U.S. Federal Reserve’s FOMC meeting, which kicks off today. Separately, traders are awaiting developments from the COP26 climate summit in Glasgow, though hopes that major carbon-related targets will be hit are slim. At last check, London’s FTSE 100 is off 0.6%, while the French CAC 40 and German DAX are 0.2% and 0.5% higher, respectively.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI