Stocks Move Lower on Heels of 3-Day Win Streak

Weekly jobless claims hit their lowest level since 1969

Deputy Editor
Dec 9, 2021 at 9:08 AM
facebook X logo linkedin

Stock futures are pointed lower this morning, following the major benchmarks' three-day win streaks. Dow Jones Industrial Average (DJI) futures are off 137 points, while futures on the S&P 500 (SPX) and Nasdaq-100 (NDX) sit comfortably in the red as well. Investors are unpacking surprising jobless claims data this morning, with initial weekly claims for last week coming in at 184,000 -- the lowest level since 1969 -- amid the labor shortage. Following the data, bond yields are moving lower this morning. 

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

  • A look at AVGO ahead of today's earnings report.  
  • Behind CSCO's rebound from its recent lows. 
  • Plus, retailer enjoying a post-earnings surge; clothing rental name suffers after quarterly report; and FUBO's fresh coverage. 

Futures Dec9

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.5 million call contracts traded on Wednesday, compared to 689,316 put contracts. The single-session equity put/call ratio rose to 0.45, and the 21-day moving average stayed at 0.48.
  2. RH (NYSE:RH), formerly known as Restoration Hardware, is surging ahead of the bell, up 8.9% at last glance. The company reported better-than-expected third-quarter results and raised its full-year forecast. However, though Wedbush raised its price objective to $650 from $600, Jefferies and Citigroup slashed their price targets to $634 and $766, respectively. 
  3. Rent the Runway Inc (NASDAQ:RENT) is down 11.7% in electronic trading, after the e-commerce platform reported much wider-than-expected third-quarter loss, as well as disappointing subscriber numbers. RENT has landed on the Short Sale Restricted (SSR) list, and the newly publicly traded stock is looking to open at record lows. 
  4. J.P. Morgan Securities initiated coverage on FuboTV Inc (NYSE:FUBO) with an "overweight" rating and price target of $28, citing the streaming name's sports-centered offerings as its standout factor. FUBO is up 3.3% in pre-market trading. 
  5. Today will bring wholesale inventories. 

Asian Markets Closed Mostly Higher

Markets in Asia continued to rally into Thursday, with the exception of Japan’s Nikkei, which sunk 0.5%, amid lingering uneasiness over the Covid-19 omicron variant. Elsewhere in the region, China’s Shanghai Composite jumped 1%, the South Korean Kospi added 0.9%, and the Hong Kong Hang Seng rose 1.1%, the lattermost strengthened by Chinese tech companies listed on the index.

This uncertainty has crossed over into European markets, which are catching their breath midday. The German DAX and the French CAC 40 are 0.3% lower, while the London FTSE 100 has lost 0.4%.


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 calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI