Stock Futures Rise as More Uplifting Inflation Data Rolls In

The producer price index (PPI) fell 0.5% in July

Deputy Editor
Aug 11, 2022 at 9:25 AM
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Stock futures are looking to extend yesterday's strong gains, with Dow Jones Industrial Average (DJIA) futures up 260 points at last check, while S&P 500 (SPX) and Nasdaq-100 (NDX) futures sit comfortably in the black as well. Inflation concerns are continuing to ease after yesterday's consumer price index (CPI). Plus, the producer price index (PPI) dropped 0.5% in July, compared to estimates of a 0.2% rise. A strong earnings report from Walt Disney (DIS) is giving sentiment a boost as well. Meanwhile, initial jobless claims rose by 14,000 to 262,000. 

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

  • Bull signal flashing for Keurig Dr Pepper stock. 
  • Checking in with this automaker after earnings.  
  • Plus, SIX set to snap win streak; unpacking Bumble's dismal forecast; and UTZ looks to extend rally. 

Futures Aug115 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.46 million call contracts traded on Wednesday, and 843,661 put contracts. The single-session equity put/call ratio fell to 0.58, and the 21-day moving average stayed at 0.68.
  2. Six Flags Entertainment Corp (NYSE:SIX) is down 13.9% premarket, after the amusement park name posted lower-than-expected second-quarter earnings and revenue, as park attendance shrank. SIX had been moving higher on the charts, finishing 10 of its last 11 trading sessions with gains. Year-to-date, SIX is down 39.4%. 
  3. Bumble Inc (NASDAQ:BMBL) is down 7% before the bell, after the dating app company cut its full-year forecast after a mixed second-quarter report. Bumble's exit from Russia and Belarus due to the war in Ukraine took a hit. The security may drop back below its year-to-date breakeven, and is facing pressure at its 320-day moving average. 
  4. Fresh out of the earnings confessional, Utz Brands Inc (NYSE:UTZ) is up 3.6% in electronic trading. The company posted better-than-expected second-quarter results and raised its full-year sales forecast. Looking to extend its recent rally, UTZ added 47.2% in the last three months. 
  5. Check out what's on tap for the rest of the week.

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European, Asian Markets Weigh U.S. Inflation Data

Asian markets saw notable gains on Thursday, led by the Hong Kong Hang Seng, which added 2.4%, while the Shanghai Composite in China logged a 1.6% pop, and the South Korean Kospi added 1.7%. The Nikkei in Japan was closed for holiday. Investor sentiment was on the rise after Wednesday’s cooling CPI reading over in the U.S. Meanwhile, the People’s Bank of China (PBoC) released a report highlighting more inflation risk up ahead, following the country’s own CPI data, which was released on Wednesday and showed the index hitting a two-year high last month.

In Europe, markets are mixed as investors assess what the U.S.’ cooler-than-expected CPI could mean for markets globally against a backdrop of corporate earnings from big names like Aegon and Telekom. At last glance, the German DAX is up 0.2%, the French CAC 40 has shed 0.1%, and the London FTSE 100 has taken a 0.3% haircut.

 

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