Stock Futures Drop for Last Trading Day of 2022

The major benchmarks are on track to snap a two-month win streak

Deputy Editor
Dec 30, 2022 at 9:19 AM
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Stock futures are poised for a lower open, as Wall Street limps into the last trading day of 2022. The major benchmarks are eyeing their worst annual outing since 2008, as they look to snap a two-month winning streak. At last check, futures on both the Dow Jones Industrial Average (DJIA) and Nasdaq-100 Index (NDX) are carrying triple-digit losses, while S&P 500 Index (SPX) futures are pointed lower as well.

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

  • Tesla stock seeing unusual options volume.
  • Schaeffer's Market Mashup holiday medley out now.
  • Plus, Li Auto's delivery update; Mesa Air's earnings miss; and Southwest Airlines  promises reimbursements.

Futures Chart December 302022

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.3 million call contracts and over 1.7 million put contracts traded on Thursday. The single-session equity put/call ratio fell to 1.33 and the 21-day moving average stayed at 0.79.
  2. Li Auto Inc (NASDAQ:LI) is down 1.4% in premarket trading, despite the electric vehicle (EV) company announcing it expects to deliver 20,000 of its vehicles this month. Last December, Li Auto delivered 14,087 EVs. The shares have shed 33.8% in 2022.
  3. Mesa Air Group Inc (NASDAQ:MESA) is 6.7% lower ahead of the session's open, and looking to add to its 75.9% year-over-year deficit after earnings. The regional air carrier reported bigger-than-expected fourth-quarter losses, and missed revenue estimates as well.
  4. After thousands of cancellations, Southwest Airlines Co (NYSE:LUV) said it plans to return to a regular flight schedule Friday. The company also said it would reimburse customers for certain expenses and refund tickets. LUV is 0.8% lower ahead of the bell, and 22.1% lower in 2022.
  5. The Chicago purchasing managers' index (PMI) is due out.


Asian, European Markets Closing Out 2022

Asian markets finished the calendar year on a high note. China’s Shanghai Composite added 0.5%, while Hong Kong’s Hang Seng gained 0.2%. Japan’s Nikkei finished flat, as the yen strengthened against the dollar. South Korea’s Kospi was closed for holiday.

Over in Europe, stocks are in the red as 2022 winds down. London’s FTSE 100 was open for a half day but closed down 0.8%. The French CAC 40 and the German DAX shed 0.8% and 1.1%, respectively.


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