Stock Futures Rise After Jobless Data, Disney Earnings

Investors are hopeful the Fed will continue to back off its hawkish stance

Digital Content Manager
Feb 9, 2023 at 9:03 AM
facebook X logo linkedin


Investors are unpacking the latest batch of corporate earnings reports this morning, which brought quarterly wins from Walt Disney (DIS) and PepsiCo (PEP). Jobless data is also on tap, with weekly claims jumping to a higher-than-anticipated 196,000, sending Treasury yields lower and fueling hopes that the Federal Reserve will continue to back off its hawkish stance.

Futures on the Dow Jones Industrial Average (DJIA) and Nasdaq-100 Index (NDX) are pacing for a triple-digit pop, while S&P 500 Index (SPX) futures are also comfortably higher.

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

  • Surging Fortinet stock loves February.
  • Uber stock is trading at multi-month highs.
  • Plus, Disney layoffs; casino name beats on revenue; and Tesla exonerated. 

OV 0209

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.3 million call contracts and 805,101 put contracts traded on Wednesday. The single-session equity put/call ratio rose to 0.63 and the 21-day moving average stayed at 0.80.
  2. Walt Disney Co (NYSE:DIS) is up 6.1% in ahead of the bell, after the company revealed better-than-expected first-quarter earnings and revenue, thanks in part to a return to its theme parks. The media giant also announced it will be laying off 7,000 workers as it looks to reduce costs and make its streaming business profitable. Year-over-year, DIS is down 21.5%.
  3. MGM Resorts International (NYSE:MGM) beat revenue expectations for the fourth quarter, despite worse-than-anticipated losses. The casino operator also plans to scrap a buyout by gambling firm Entain. At least seven analysts have lifted their price objectives, sending the shares 6.4% higher before the open. Year-to-date, MGM has already added 23.6%.
  4. The shares of Tesla Inc (NASDAQ: TSLA) are up 3.2% in premarket trading, after a U.S. prone found no evidence of autopilot use during an April 2021 fatal crash of a Tesla Model S. Plus, CEO Elon Musk announced plans to reveal his “Master Plan 3.” TSLA has shed 34.5% over the last 12 months.
  5. No relevant indicators are on tap today.

OV Buzz Chart Feb 9

European Markets React to Stateside Fed Comments

Asian markets settled on both sides of the aisle Thursday, as investors consider future rate hikes globally. Hong Kong’s Hang Seng led the winners with a 1.6% gain, as several casino stocks enjoying a post-earnings boost. China’s Shanghai Composite followed behind with a 1.2% win, while the South Korean Kospi and Nikkei in Japan fell 0.09% and 0.08%, respectively.

Over in Europe, shareholders are also unpacking the latest Fed comments stateside. The bourses are all higher at midday, with London’s FTSE 100 sporting a 0.7% lead, while the French CAC 40 and German DAX both jump 1.2%.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI