Stock Futures Higher After Disappointing First Session of 2023

The Dow is up triple digits ahead of the open

Laura McCandless

Deputy Editor

Jan 4, 2023 at 9:04 AM

Stock futures are on the rise this morning, following a disappointing first trading day of 2023. Futures on the Dow Jones Industrial Average (DJIA) are up triple digits, while the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures point higher as well. Encouraging inflation data out of France and Germany is giving sentiment a boost, as investors look ahead to today's U.S. job openings and ISM manufacturing data.

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

Why options bulls blasted this biotech stock.
Chevron stock has a solid technical foundation.
Plus, CRM announces restructuring plan; MSFT receives a downgrade; and AZN eyes more highs.

Futures Jan4

5 Things You Need to Know Today

The Cboe Options Exchange (CBOE) saw over 1.2 million call contracts and 787,982 put contracts traded on Tuesday. The single-session equity put/call ratio fell to 0.63 and the 21-day moving average rose to 0.80.
Salesforce Inc (NYSE:CRM) is up 1.7% premarket, after news that the blue-chip software giant is cutting about 10% of its staff in its new restructuring plan. CRM was a notable underperformer in 2022, down 47.2% year-over-year.
UBS downgraded Microsoft Corp (NASDAQ:MSFT) to "neutral" from "buy," with a price-target cut to $250 from $300, citing a series of field checks directed at the company's Azure and Office businesses. MSFT is down 2.3% in electronic trading.
AstraZeneca plc (NASDAQ:AZN) is up 1.6% before the bell, after the European Medicines Agency validated its Type II Variation application for its non-small cell lung cancer treatment. Should these gains hold, AZN will extend yesterday's record highs.
Once again, the ISM manufacturing index is scheduled today, along with job openings/quits, and the federal open market committee (FOMC) meeting minutes.

buzzjan4

Euro Zone Data Gives Global Boost to Stocks

Asian markets were mostly higher today, led by Hong Kong’s Hang Seng 3.2% burst. Chinese technology and healthcare stocks listed in Hong Kong gave the bourse a major boost, with Baidu (BIDU) and Alibaba (BABA) both adding nearly 7%. Elsewhere, South Korea’s Kospi and China’s Shanghai Composite added 1.7% and 0.2%, respectively, while Japan’s Nikkei shed 1.5% as traders in the region looked ahead towards the U.S. Federal Reserve’s latest meeting minutes.

Stocks in Europe, meanwhile, are solidly higher, as investors unpack encouraging inflation data out of France and Germany that indicated the euro zone is seeing slowing consumer price increases across the board. At last glance, France’s CAC 40, Germany’s DAX, and London’s FTSE 100 are up 2%, 1.8%, and 0.4%, respectively.

Follow @Schaeffers

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.