Stock Futures Fall Despite Strong Earnings Results

General Motors, McDonald's, and PepsiCo reported earnings today

Deputy Editor
Apr 25, 2023 at 9:10 AM
facebook X logo linkedin


Futures on U.S. equities were lower Tuesday, even after General Motors (GM), McDonald's (MCD), and PepsiCo (PEP) posted better-than-expected results. At last glance, Dow Jones Industrial Average (DJIA), Nasdaq-100 Index (NDX), and S&P 500 Index (SPX) futures are all solidly in the red. Elsewhere, U.S. President Joe Biden announced his reelection bid.

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

  • Bears are still in control, according to Schaeffer's Senior V.P. of Research Todd Salamone.
  • Why call traders love this storage stock.
  • Plus, First Republic deposits drop; Spotify beats subscriber estimates; and UPS whiffs on revenue. 

futures Chart April 252023

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.2 million call contracts and 741,814 million put contracts exchanged on Monday. The single-session equity put/call ratio fell to 0.57 and the 21-day moving average moved down to 0.77.
  2. First Republic Bank (NYSE:FRC) is down 22% premarket, after the company reported a 41% drop in deposits in the first quarter. In addition, the bank plans to cut 20% of its workforce. Coming into today, FRC was already down nearly 89.8% over the last 12 months.
  3. Spotify Technology SA (NYSE:SPOT) is up 6.1% before the bell and on track to add to its 66.5% year-to-date lead, after the streaming giant beat subscriber expectations for the first quarter. Profits, however, fell well below analyst forecasts.
  4. United Parcel Service, Inc. (NYSE:UPS) delivered profits that were in line with Wall Street's expectations, but revenue fell short as retail sales in the U.S. decelerated. Down 4.5% in electronic trading, UPS is set to pull dangerously close to its year-over-year breakeven level.
  5. The S&P Case-Shiller home price index, new home sales, and consumer confidence data are due out today.

buzzapril25

Hong Kong Unemployment Rate Hits More Than 3-year Low

Japan’s Nikkei was the only winner amongst Asian markets on Tuesday, adding 0.09%. Hong Kong’s Hang Seng fell 1.7%, despite reports that Hong Kong’s unemployment rate fell to 3.1% in the first quarter – its lowest level since Oct. 2019. Meanwhile, South Korea’s gross domestic product (GDP) grew 0.8% year-over-year in the first quarter, while automaker Hyundai Motor scored a 92% year-on-year jump in net profit. Nevertheless, the South Korean Kospi and China’s Shanghai Composite finished the day down 1.4% and 0.3%, respectively.

European markets are lower as well, as investors pore over a slew of earnings reports. Both the mining and banking sectors leading the losses, at last glance. London’s FTSE 100 is down 0.4%, the French CAC 40 is off 0.6%, and the German DAX is marginally lower.

 

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