Stock Futures Higher to Close Out Q1

There are plenty of PCE updates this morning

Deputy Editor
Mar 31, 2023 at 9:20 AM
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Futures on the Dow Jones Industrial Average (DJI) are up 117 points this morning, while S&P 500 Index (SPX) and Nasdaq Composite Index (NDX) futures move higher as well, as the latter two look to wrap up a winning first quarter. All three indexes are eyeing weekly and monthly wins. 

Investors are unpacking a flood of data this morning as well. The personal consumption expenditures (PCE) price index rose 0.3% in February, below estimates of 0.4%, while the core PCE rose 4.6% year-over-year. Personal income, meanwhile, increased 0.3%, while consumer spending rose 0.2%. 

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

  • Zillow Group stock flashing historically bullish signal
  • 3 stocks options traders are circling.
  • Plus, BB falls after earnings; BBBY eyes more record lows; and GNRC hit with downgrade.  

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5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw over 1.1 million call contracts and 773,894 put contracts traded on Thursday. The single-session equity put/call ratio rose to 0.66 and the 21-day moving average stayed at 0.78.
  2. BlackBerry Ltd (NYSE:BB) is down 2.8% premarket, after the software name's disappointing fourth-quarter results and full-year forecast. Still, TD Securities upgraded BB to "hold" from "reduce," with a price-target hike to $4 from $3.75. Pacing for its third-straight weekly gain, BB is up 22.7% year-to-date. 
  3. Bed Bath & Beyond Inc (NYSE:BBBY) is down 6.8% in electronic trading, and looking to extend yesterday's 26.2% drop, after the company announced plans to sell $300 million in shares, and warned of bankruptcy. Headed for new record lows, BBBY is down 76.4% since the start of the year. 
  4. BofA Global Research downgraded Generac Holdings Inc (NYSE:GNRC) to "underperform" from "neutral," with a price-target cut to $91 from $141. Down 2.2% before the bell, the equity is up 11.2% year-to-date. 
  5. Today features the Chicago business barometer and final consumer sentiment reading.

buzzmar31

European Markets Higher Following Euro Zone Drop

Asian markets closed out Friday with gains, following Wall Street’s tech rally and encouraging stateside jobless data. Investors also looked ahead to the U.S. PCE price index. South Korea’s Kospi paced the gainers with a 1% pop, followed by the Japanese Nikkei’s 0.9% rise. Meanwhile, Hong Kong’s Hang Seng and China’s Shanghai Composite added 0.5% and 0.4%, respectively.

European markets are also higher, after a preliminary reading showed euro zone inflation staged its sharpest drop on record, falling to 6.9% in March from 8.5% in February. In other news, German retail sales fell last month, while the U.K. economy grew 0.1% in the fourth quarter. France’s CAC 40 was last seen up 0.5%, the German DAX is 0.4% higher, and London’s FTSE 100 sports a 0.2% lead.

 

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