Stock Futures Pointed Higher Ahead of Fed Minutes

Investors are unpacking Fed President James Bullard's latest remarks

Digital Content Manager
Feb 22, 2023 at 9:07 AM
facebook X logo linkedin


Wall Street is awaiting the Federal Reserve's meeting minutes, after stocks yesterday marked their worst daily performance since Dec. 15. Investors are concerned the central bank will stick to its hawkish stance, especially after St. Louis Fed President James Bullard said there's a "good shot" of beating inflation in 2023 while avoiding a recession. At last check, futures on the Dow Jones Industrial Average (DJIA) were up 51 points, while Nasdaq-100 Index (NDX) and S&P 500 Index (SPX) futures were also higher.

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

  • Why it may be time to reduce bullish exposure, per Senior V.P. of Research Todd Salamone.
  • This REIT could soon nab fresh 11-month high.
  • Plus, cybersecurity stock surging; Intel slashes quarterly dividend; and LOGI downgraded.

OV 0222

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.2 million call contracts and 845,924 put contracts traded on Tuesday. The single-session equity put/call ratio rose to 0.68 and the 21-day moving average stayed at 0.79.
  2. Palo Alto Networks Inc (NASDAQ:PANW) reported its third-straight profitable quarter after 10 years of losses, with fiscal second-quarter results easily beating analyst estimates. The cybersecurity name also shared an upbeat third-quarter outlook. PANW is up 8.8% premarket, and has already added 19.6% in 2023.
  3. Blue-chip Intel Corporation (NASDAQ:INTC) lowered its quarterly dividend in an effort to improve capital amid economic uncertainty. The stock was last seen down 0.8% before the bell and carries a 42.1% year-over-year deficit. 
  4. UBS downgraded Logitech International SA (NASDAQ:LOGI) to "neutral' from "buy." The analyst in question cited an "incrementally tougher" space, with tough competition. LOGI is down 0.8% ahead of the open and has shed 26.4% in the past 12 months.
  5. The Federal Open Market Committee's (FOMC) February meeting minutes are due out today.

OV Buzz Chart Feb 22

European, Asian Markets Slip After Stateside Losses

Asian markets finished lower on Wednesday, following sharp losses stateside. Japan’s Nikkei fell 1.3%, after the country’s producer price index (PPI) came in at 1.6% year-over-year. The South Korean Kospi posted the steepest drop, losing 1.7%, while China’s Shanghai Composite shed 0.5%. Meanwhile, Hong Kong released its budget, and the city’s Hang Seng fell 0.5%.

At last glance, European markets are falling as well, as investors await minutes from the U.S. Federal Reserve. London’s FTSE 100 is off 0.8% midday, while the French CAC 40 is down 0.3%, and the German DAX sports a 0.2% deficit.

 

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