Stock Futures Fall as Week Winds Down

Bitcoin is having a rough morning as well

Deputy Editor
Aug 19, 2022 at 9:20 AM
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Futures on the Dow Jones Industrial Average (DJIA) and Nasdaq-100 (NDX) are down triple digits before the bell, as investors continue to sift through the latest batch of earnings. S&P 500 (SPX) futures are lower as well, with the index potentially on track to snap a four-week win streak. Meanwhile, crypto markets are falling, with Bitcoin (BTC) last seen slipping below the $22,000 level to hit a roughly three-week low.

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

  • Checking in on Macy's stock ahead of next week's earnings.   
  • Caterpillar stock seeing pressure on the charts. 
  • Plus, 2 stocks surging on quarterly results; and MSGE jumps on potential spin-off. 

Futures August19

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.41 million call contracts traded on Thursday, and 816,257 put contracts. The single-session equity put/call ratio fell to 0.58, and the 21-day moving average stayed at 0.67.
  2. The shares of Foot Locker Inc (NYSE:FL) are up 23.8% premarket, after the retailer announced a second-quarter earnings beat and executive transition, with former Ulta Beauty (ULTA) CEO Mary Dillon replacing CEO Richard Johnson on Sept. 1. On the charts, FL has been climbing since its July 14, two-year low of $23.85.  
  3. Bill.com Holdings Inc (NYSE:BILL) is up 15.9% before the bell, after the software concern's narrower-than-expected fiscal fourth-quarter losses of 3 cents per share, revenue beat, and upbeat guidance. No fewer than nine analysts lifted their price targets, including KBW to $269 from $245. Quarter-to-date, BILL is up 40%. 
  4. Madison Square Garden Entertainment Corp (NYSE:MSGE) is up 8.5% in electronic trading, after news that the board of directors is weighing a potential spin-off containing its live entertainment and MSG Networks businesses. MSGE is down 10.9% year-to-date.
  5. Today will bring an advance report on services.

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European Markets Eye Inflation, Retail Sales Data

Asian markets were quiet on Friday, with the Hong Kong Hang Seng inching 0.05% higher, and the Nikkei in Japan shedding 0.04%, while China’s Shanghai Composite and the South Korean Kospi both backpedaled 0.6%. Investors are taking cues from the rest of the global economy, which has been struggling for direction. Meanwhile, Japan reported a higher-than-expected 2.6% rise in headline inflation for July, which also topped the Bank of Japan’s (BoJ) target of 2.0%.

In Europe, stocks are also struggling as traders eye a record jump in German producer prices, per data out on Friday. Meanwhile, data out of the U.K. showed that consumer confidence dropped by 3 points to a fresh record low of -44 in August. Lightening the mood slightly, however, are U.K. retail sales, which rose 0.3% in July. At last glance, the London FTSE 100 is up 0.3%, the German DAX is 0.5% lower, and the French CAC 40 has shed 0.4%.

 

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