Stock Futures Lower Amid Retail Data, Earnings

U.S. retail sales were little changed in July

Deputy Editor
Aug 17, 2022 at 9:15 AM
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Futures on the Dow Jones Industrial Average (DJIA) are down 202 points ahead of the open, as the blue-chip index looks to snap its five-day winning streak. S&P 500 Index (SPX) and Nasdaq-100 (NDX) futures on sinking as well, with the latter also down triple digits, as big-name retailers including Target (TGT) and TJX (TJX) announce earnings. Meanwhile, U.S. retail sales fell flat for July, while auto sales rose 0.7%, and internet sales jumped 2.7% -- helped by's (AMZN) Prime Day. 

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

  • Schaeffer's Senior Quantitative Analyst Rocky White measures consumer strength.  
  • How put traders scored a nice profit with Chewy stock
  • Plus, tech stock jumps after earnings; DNUT plummets after cutting forecasts; and BBBY looks to extend rally. 

Futures August17

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.64 million call contracts traded on Tuesday, and 877,001 put contracts. The single-session equity put/call ratio fell to 0.53, and the 21-day moving average stayed at 0.67.
  2. The shares of Agilent Technologies Inc (NYSE:A) are up 5.5% premarket, after the company reported better-than-expected fiscal third-quarter results and raised its full-year forecast. In turn, at least seven brokerages raised their price targets. Plus, Agilent is partnering with Mytide Therapeutics on automation solutions. Year-to-date, A is down 16.8%. 
  3. Krispy Kreme Inc (NASDAQ:DNUT) is lower before the bell, down 8.1% at last glance, after the donut giant's second-quarter profit and revenue missed estimates. The company cut its annual forecasts as well, with customer demand slipping due to inflation. Quarter-to-date, DNUT has added 6.8%, though it still sports a 23.3% year-to-date deficit. 
  4. Looking to continue its recent rally out of penny stock territory, Bed Bath & Beyond Inc (NASDAQ:BBBY) is up a whopping 32.4% in electronic trading. The retailer, which has been a popular "meme stock" of late, is up 41.6% year-to-date. 
  5. Retail sales and business inventories are due out today.


European Markets Cool on Euro Zone Data

Asian markets were mostly higher on Wednesday, with the exception of the South Korean Kospi, which dropped 0.7%, as investors cycled out of equities. Meanwhile, the Nikkei in Japan led the gainers, adding 1.2% after the country’s exports growth for July rose to a better-than-expected 19%, as car imports from the country strengthened. Finally, China’s Shanghai Composite and the Hong Kong Hang Seng both tacked on 0.5%.

In Europe, markets are taking a breather as investors took at look at economic data out of the euro zone and the U.K. Specifically, the euro zone shared revised economic growth that fell to 0.6% from 0.7% for the quarter, and to 3.9% from 4% annually. Meanwhile, the consumer price index (CPI) in the U.K. saw a hotter-than-expected 10.1% year-on-year rise in July, marking a 40-year high for the reading as inflation continues to run rampant. In response, the London FTSE 100 is 0.4% lower, the French CAC 40 has shed 0.6%, and the German DAX is down 1.2%.



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