Stock Futures Set to Extend Losses as Bond Yields Rise

The 10-and 2-year Treasury yields are surging

Digital Content Manager
Feb 17, 2023 at 9:04 AM
facebook X logo linkedin


Stock futures are looking to extend yesterday's steep losses. Interest rate fears and Fed fatigue are still prevalent, especially after St. Louis Federal Reserve President James Bullard said he would not rule out a 50 basis point rate hike in March. Meanwhile, the 10-and 2-year Treasury yields hit their highest levels since November.

At last check, futures on the Dow Jones Industrial Average (DJIA) are eyeing a 128-point move lower, while Nasdaq-100 Index (NDX) and S&P 500 Index (SPX) futures are also pointed lower. The tech-heavy benchmark is still looking to finish the week with solid gains, though.

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

  • Several reasons to avoid Walgreens stock
  • Call traders blasted this Roku rival yesterday.
  • Plus, DraftKing's quarterly win; ROKU double upgraded; and DoorDash to buy back shares.

OV Futures Feb 17

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.3 million call contracts and 837,784 put contracts traded on Thursday. The single-session equity put/call ratio fell to 0.60 and the 21-day moving average stayed at 0.79.
  2. DraftKings Inc (NASDAQ: DKNG) yesterday reported better-than-anticipated results, while also raising its 2023 revenue outlook. The stock is up 7.2% ahead of the open, and earned a price-target hike from Benchmark to $23. So far this year, the sports betting stock has added 56.4%.
  3. Bank of America double upgraded Roku Inc (NASDAQ: ROKU) to "buy" from "underperform," while raising its price target to $85 from $45. The firm noted the company is set to improve margins and revenue, and that ad spending could improve this year. ROKU is up 2.1% in premarket trading, but carries a 56.3% year-over-year deficit.
  4. The shares of DoorDash Inc (NYSE:DASH) are brushing off the food delivery company's wider-than-expected fourth-quarter losses, thanks to a revenue beat, a share buyback program of up $750 million, and a strong annual forecast. The stock is up 3.8% before the bell and has already added 37% in 2023.
  5. Today brings the import price index and leading economic indicators. 

OV Buzz Feb 17

European Markets Dip on Global Inflation Data

Markets in Asia slipped today, led by the Hong Kong Hang Seng, which lost 1.3%. The South Korean Kospi dropped 1%, amid comments from the region’s finance ministry warning of a slowing economy, while China’s Shanghai Composite and Japan’s Nikkei shed 0.8% and 0.7%, respectively.

European markets are trading lower as well, as investors unpack global inflation data for the week. Germany’s producer price index (PPI) rose to a higher-than-expected 8.7% in January, though the rate has still steadily been decreasing over the past four months. The German DAX is down 0.7%, while London’s FTSE is 0.2% lower, and the French CAC 40 has shed 0.5%.

 

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