Stock Futures Rise on 2-Year Anniversary of Pandemic

Oil prices are still rising as well, though far from their recent highs

Deputy Editor
Mar 11, 2022 at 9:09 AM
facebook X logo linkedin


It has been exactly two years today since Covid-19 was declared a pandemic, and stock futures are pointed confidently higher, with the market looking to close out this volatile week on a positive note. Dow Jones Industrial Average (DJIA) and Nasdaq-100 Index (NDX) futures are eyeing triple-digit pops before the bell, while futures on the S&P 500 Index (SPX) rise as well. The Senate passed a funding bill Thursday that included $13.6 billion in aid to Ukraine, as Russia continues its invasion. Meanwhile, West Texas Intermediate Crude (WTI) is inching higher, but is still on track for a weekly deficit after Wednesday's tumble. 

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

  • Sysco stock has pulled back to historically bullish trendline. 
  • A look at what could be next for the cannabis industry.  
  • Plus, DOCU plummets on weak forecast; UBER receives fresh bull note; and PSO soars on potential buyout. 

futures 0311

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw over 1.1 million call contracts traded on Thursday, and 692,848 put contracts. The single-session equity put/call ratio rose to 0.60, and the 21-day moving average stayed at 0.57.
  2. DocuSign Inc (NASDAQ:DOCU) is down 17.3% premarket, after the company issued a weak revenue forecast alongside its better-than-expected fourth-quarter results. To follow, Oppenheimer downgraded the stock to "perform," and no fewer than four analysts slashed their price targets, including Wedbush to $80 from $200. Should these losses hold, DOCU will trade at its lowest since the pandemic started. 
  3. Deutsche Bank initiated coverage on Uber Technologies Inc (NYSE:UBER) with a "buy" rating and $50 price target, noting an attractive entry point for the underperforming stock. UBER is down 27.5% year-to-date, and recently hit a March 8 18-month low of $28.27. Before the bell today, the stock is up 2.5%. 
  4. Pearson PLC (NYSE:PSO) is up 20.5% in electronic trading, amid news that Apollo is considering a possible cash offer for the global education company. Year-over-year, PSO is down 23.8%. 
  5. Today will bring the University of Michigan consumer sentiment index and five-year inflation expectations. 

OV Buzz March 11

 

European Markets Rise Amid Data

Asian markets were mostly lower to close out the week, as investors continued to monitor the Russia-Ukraine crisis. Pacing the laggards was Japan’s Nikkei with a 2.1% drop, while Hong Kong’s Hang Seng shed 1.6%, as tech stocks including Tencent Music Entertainment (TME) and Alibaba (BABA) struggled. Elsewhere, South Korea’s Kospi was 0.7% lower, while China’s Shanghai Composite added 0.4%.

European markets are higher, after new data showed the United Kingdom’s gross domestic product (GDP) grew a better-than-expected 0.8% in January, despite Covid-19 shutdowns. Meanwhile, German consumer prices rose 5.5% year-over-year. Investors are still digesting the European Central Bank’s (ECB) decision to end its bond-buying program in the third quarter, as they weigh news of failed cease-fire talks between Russia and Ukraine. At last check, the German DAX is 3% higher, France’s CAC 40 is up 1.9%, and London’s FTSE 100 is eyeing a 1.3% pop.

 

 

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