S&P 500, Nasdaq Futures Move Higher After Weekly Wins

Investors expect more sanctions on Russia to be announced soon

Digital Content Manager
Apr 4, 2022 at 9:12 AM
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Dow Jones Industrial Average (DJIA) futures are pointed slightly below breakeven this morning. Meanwhile, futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are looking to open in the black, with both fresh off their third-straight weekly wins. Traders are still eyeing Russia-Ukraine updates, with more sanctions from Western counties expected to hit Moscow in the next few days. Investors are also watching the bond market for recession signals, ahead of the release of the Federal Open Market Committee (FOMC) meeting minutes on Wednesday.

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

  • 7 weed stocks to watch amid decriminalization headlines.
  • Video game stock facing pressure on the charts. 
  • Plus, Elon Musk takes TWTR stake; analyst turns bullish on Logitech stock; and Hertz announces EV partnership.

Stock Futures 04045 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw over 1.5 million call contracts traded on Friday, and 912,126 put contracts. The single-session equity put/call ratio rose to 0.59, and the 21-day moving average stayed at 0.57.
  2. Twitter Inc (NYSE:TWTR) is soaring before the bell, last seen 21.1% higher. This impressive surge came after a Securities and Exchange Commission (SEC) filing revealed that Tesla (TSLA) CEO Elon Musk took a 9.2% stake in the social media giant. Year-over-year, TWTR remains down more than 38%.
  3. Goldman Sachs upgraded Logitech International SA (NASDAQ:LOGI) to "buy"  from "neutral." The analyst in question highlighted the company's upbeat financial performance. Last seen up 5% ahead of the open, the computer accessories stock has shed 42.1% in the last nine months.
  4. Hertz Global Holdings Inc (NASDAQ:HTZ) is up 2.4% in the premarket, after the car rental concern announced a new partnership with electric vehicle (EV) maker Polestar. Hertz is expected to buy as many as 65,000 EVs from the company in the next five years. Year-to-date, HTZ is still down 15.5%.
  5. Today will bring data on factory orders, and core capital equipment orders.
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European Markets Higher as Officials Weigh More Sanctions

Markets in Asia rose today. The Hong Kong Hang Seng led the charge with a 2.1% pop, after China-based tech stocks were given a boost on news that the China Securities Regulatory Commission made a statement to CNBC, saying Chinese and U.S. regulators' overall cooperation regarding the long-standing audit dispute is going smoothly, following last month's list of stocks failing to adhere to the Holding Foreign Companies Accountable Act (HFCAA). Meanwhile, Japan's Nikkei added 0.3%, while South Korea's Kospi tacked on 0.7%. China’s Shanghai Composite was closed for the Quingming Festival

European markets are muted midday, as the European Union (EU) considers further sanctions against Russia after accusations of civilian massacres in Bucha, Ukraine sparked a global outcry. London's FTSE 100 is up 0.09%, the German DAX is down 0.05%, and the French CAC 40 is sporting a 0.2% lead.

 

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