Stock Futures Eye Muted Slide on GDP Reading, Jobs Data

Initial jobless claims came in higher than expected

Deputy Editor
Jul 28, 2022 at 9:13 AM
facebook X logo linkedin


A promising update from the U.S. Federal Reserve helped stocks surge yesterday, but futures are stalling out heading into Thursday's session after the second-quarter gross domestic product (GDP) reading fell 0.9% for its second-straight decline, further signaling a looming recession. Additionally, initial jobless claims came in at 256,000 for the week ending July 23 -- a 5,000 decrease but still above the anticipated 249,000. Futures on the Dow Jones Industrial Average (DJIA) are eyeing a 58-point drop, while Nasdaq-100 Index (NDX) and S&P 500 Index (SPX) futures are also looking to open slightly below their respective fair values, thanks to disappointing earnings from Facebook-parent Meta Platforms (META).

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

  • The Big Tech giant brushing off an earnings blunder
  • Why this apparel stock could continue to crumble.
  • Plus, discount airliner's takeover battle concludes; why solar stocks are jumping; and HOG revs up after earnings beat.

futuresovjul28

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.26 million call contracts and 837,230 put contracts traded on Wednesday. The single-session equity put/call ratio fell to 0.66, and the 21-day moving average rose to 0.68.
  2. Hours after scrapping plans to merge with Frontier Group (ULCC), Spirit Airlines Incorporated (NYSE:SAVE) reached a deal to be bought by JetBlue Airways (JBLU) for $3.8 billion in cash, or $33.50 per share. The move comes after a drawn-out takeover battle, and helped SAVE add 4% in electronic trading. Year-to-date, Spirit Airlines stock is 11.2% higher.
  3. Shares of solar stocks are popping today, with Sunrun Inc (NASDAQ:RUN) and Sunnova Energy International Inc (NYSE:NOVA) boasting 11.4% and 15.6% premarket leads, respectively, after Democratic Senator Joe Manchin agreed to support a bill that would invest $369 billion in clean energy incentives. In 2022, RUN and NOVA are both sport deficits of slightly more than 30%.
  4. Harley-Davidson Inc (NYSE:HOG) is 5% higher ahead of the opening bell, after reporting top- and bottom-line beats for the second quarter. In addition, the motorcycle maker reaffirmed its prior full-year forecast. If today's gains hold, HOG will be on track for its fourth-consecutive winning week.
  5. Alongside day's jobs data, GDP data set to come out as well.

buzzjuly28

Stateside Fed Update Boosts Markets in Asia

Asian markets were mostly higher today, following the Fed’s rate hike decision stateside. Hong Kong’s Hang Seng was the only loser, shedding 0.2%. The South Korean Kospi added 0.8%, with a boost from Samsung’s second-quarter earnings, while Japan’s Nikkei rose 0.4%, and China’s Shanghai Composite tacked on 0.2%.

European markets are struggling for direction, as investors unpack a flood of corporate earnings, including a disappointing second-quarter report from Barclays after a costly trading error. London’s FTSE 100 is down 0.2%, while the French CAC 40 rises 0.07%, and the German DAX sheds 0.1%. 

 

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