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 Amazon.com'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.

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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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