Dow Futures Eye Triple-Digit Pop as Retail Earnings Loom

President Biden will sign the Infrastructure Investment and Jobs Act today

Digital Content Manager
Nov 15, 2021 at 9:13 AM
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Stock futures are pointed higher this morning, poised to right the ship after snapping a five-week win streak on Friday. Futures on the Dow Jones Industrial Average (DJI) are eyeing a 137-point pop, while futures on both the S&P 500 (SPX) and Nasdaq-100 (NDX) are indicating a confidently higher open as well. President Joe Biden is scheduled to sign the Infrastructure Investment and Jobs Act later today, and will hold a virtual summit with Chinese President Xi Jinping. Investors are also gearing up for this week's earnings slate, including retailers Walmart (WMT) and Target (TGT).

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

  • The latest cannabis sector earnings and updates.
  • Why options bulls should bet on Lovesac stock.
  • Plus, Petco downgraded; CrowdStrike draws fresh coverage; and Tyson Foods' new productivity program.

Futures 1115

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 2.2 million call contracts traded on Friday, compared to 1 million put contracts. The single-session equity put/call ratio rose to 0.47, and the 21-day moving average stayed at 0.47.
  2. Petco Health and Wellness Company Inc (NASDAQ:WOOF) is down 3% ahead of the open, after Jefferies downgradedthe stock "hold" from "buy." The analyst in question cited the company's valuation, as well as labor conditions in its veterinary business. In the last three months, Petco stock has added 26%.
  3. The shares of Crowdstrike Holdings Inc(NASDAQ:CRWD) are down 3.4% in electronic trading, after Morgan Stanley initialed coverage of the cybersecurity name with an "underweight" rating. The firm cited pricing pressures and increasing competition. Year-over-year, Crowdstrike stock still boasts a 107.1% lead.
  4. Tyson Foods, Inc. (NYSE:TSN) is down 0.9% before the bell, despite the food company reporting a fiscal fourth-quarter earnings and revenue beat. In addition, Tyson noted its new productivity program could result in $1 billion savings annually by late 2024. Over the past 12 months, TSN has added 33.5%. 
  5. Today will feature the Empire State manufacturing index.
OV Buzz Chart November 15

Asian Markets Pop on Upbeat Chinese Retail Sales Data

Asian markets started the week off mostly higher, with the Shanghai Composite posting the only loss, a 0.2% dip despite upbeat economic data. Specifically, October retail sales in China popped 4.9% year-over-year, overcoming the 3.5% forecast, while industrial output rose 3.5% for the month to beat expectations as well. Japan’s Nikkei, meanwhile, rose 0.6%, brushing off preliminary gross domestic product (GDP) estimates, which showed GDP declining an annualized 3% in the previous quarter. Elsewhere, South Korea’s Kospi rose 1%, while Hong Kong’s Hang Seng turned in a 0.3% win.

Stocks in Europe are seeking guidance at midday, as economic data and corporate earnings from around the globe continue to pour in. Meanwhile, a flash estimate of euro zone consumer confidence data for November is slated to be released just before Monday’s close. In response, London’s FTSE 100 is off 0.1%, Germany’s Dax is 0.2% higher, and France’s CAC 40 is up 0.5%.

Trader: Sell These 8 Stocks in 2021

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