Stock Futures Rise on Heels of Jobs Data

Wholesale data came in lower-than-expected but is still impressive considering inflation

Managing Editor
Jan 13, 2022 at 9:17 AM
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Futures on the Dow Jones Industrial Average (DJI)S&P 500 Index (SPX), and Nasdaq-100 Index (NDX) are moving higher this morning, as investors digest a deluge of earnings and the latest round of jobs data. Delta Air Lines (DAL) and KBH Home (KBH) are both taking the spotlight after impressive quarterly beats, and after the former reaffirmed its full-year outlook. Initial jobless claims came in 30,000 above the 200,000 estimate, and wholesale data came in lower-than-anticipated, but still marked a noteworthy benchmark after inflation yesterday hit an almost 40-year peak.

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

  • Buy the dip on this Dow stock.
  • Keep an eye on this BlackRock stock trendline.
  • Plus, a surging energy name; Lennar's latest dividend update; and Boeing's 737 Max jet may be ready for China.   

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5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.4 million call contracts traded on Wednesday, and 689,970 put contracts. The single-session equity put/call ratio rose to 0.49, and the 21-day moving average remained at 0.49.
  2. Shares of Sunrun Inc (NASDAQ:RUN) are up 1.6% in electronic trading, after the energy giant was named a top pick for 2022 at brokerage Morgan Stanley. The analyst cited strong growth has yet to be priced in for the equity. Over the past 12 months, RUN has struggled, shedding 64%.
  3. After increasing its dividend by 50% and subsequently hiking its payout to $1.50 from $1.00, Lennar Corporation (NYSE:LEN) is moving 2.8% higher before the bell. LEN has had a volatile past year, and is now staring up at the $10, long-term ceiling of resistance.
  4. Airline giant Boeing Co (NYSE:BA) is up 2.2% in early trading, after it was noted the company may begin a resumption of service for its 737 MAX jet in China, by the end of January, per Bloomberg. BA has struggled to maintain gains longer-term, the equity now sporting a 13.8%, nine-month deficit. 
  5. The producer price index (PPI) is also on tap for today. 
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Asian Investors Digest Deluge of U.S. Data

Asian markets were mostly lower on Thursday, as investors digested yesterday's red-hot U.S. consumer price index (CPI), as well as comments from the World Health Organization (WHO) that omicron infections are “off the charts.” Pacing the laggards was China’s Shanghai Composite with a 1.2% drop, after property developer Sunac fell more than 22% on plans to sell over 452 million shares to one of its shareholders. Elsewhere, Japan’s Nikkei fell 1%, while South Korea’s Kospi lost 0.4%, and Hong Kong’s Hang Seng added  0.1%.

The latest U.S. inflation reading is also weighing on European markets, though some believe it may have reached its peak. Investors were also considering comments from U.S. Federal Reserve Chairman Jerome Powell, who said on Tuesday that interest rate hikes are needed as the economy recovers from the pandemic. All eyes are now turning to the producer price index (PPI) for December, which was just released. At last check, London’s FTSE 100 is 0.1% higher, the German DAX is slightly above breakeven with a 0.09% gain, and  France’s CAC 40 is down 0.6%.

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