Dow Futures Dinged by Disney Earnings

All eyes are on the producer price index (PPI) this morning

Deputy Editor
May 11, 2023 at 9:09 AM
facebook X logo linkedin


This morning's producer price index (PPI) mimicked yesterday's consumer price index (CPI) by coming in slightly below analyst expectations. Wholesale prices rose 0.2% in April, compared to the anticipated 0.3% rise, and 2.3% on an annual basis -- the lowest reading since January 2021. Meanwhile, jobless claims came in at 264,000 for last week. 

Despite the encouraging data, Dow Jones Industrial Average (DJIA) futures are down triple digits, with Walt Disney (DIS) earnings taking their toll on the blue-chip index. Futures on the S&P 500 Index (SPX) are marginally lower, while Nasdaq-100 Index (NDX) futures sit modestly higher. 

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

  • Celsius stock can't be stopped. 
  • Restaurant stock flashing bull signal.   
  • Plus, 3 stocks moving after earnings. 

futures May11

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.3 million call contracts and 909,483 put contracts exchanged on Wednesday. The single-session equity put/call ratio rose to 0.68 and the 21-day moving average fell to 0.75.
  2. Robinhood Markets Inc (NASDAQ:HOOD) is up 4.4% premarket, after the trading platform reported narrower-than-expected first-quarter losses per share alongside a revenue beat, and showed growth in monthly subscribers. The company will also launch 24-hour trading of select stocks next week. Year-to-date, HOOD is up 11.5%. 
  3. Unity Software Inc (NYSE:U) is up 8.7% before the bell. The company topped first-quarter revenue expectations, raised its full-year forecast, and announced plans to cut its workforce by 8%. Two analysts raised their price targets while two others issued price-target cuts. Year-over-year, the stock is down 40.3%. 
  4. Tapestry Inc (NYSE:TPR) is up 8.4% in electronic trading, after the luxury fashion name announced strong fiscal third-quarter results and an upbeat annual profit forecast on higher prices and strong demand. Should these gains hold, TPR will break into positive territory for 2023. 
  5. There is no more economic data of note today.  

buzzmay11

Bank of England Raises Rates

Stocks in Asia finished mostly lower, though Japan’s Nikkei managed to eke out a fractional win after the yen strengthened against the greenback. China’s Shanghai Composite and Hong Kong’s Hang Seng fell 0.3% and 0.09%, respectively, following a slower-than-expected inflation print from China. Rounding out the region, South Korea’s Kospi dipped 0.2%.

European markets are mixed Thursday, after the Bank of England (BoE) raised interest rates by 25 basis points, following inflation figures from the U.S. The German DAX is down 0.2% at last glance, however, after pharmaceutical firm Bayer delivered a disappointing annual guidance. Meanwhile, London’s FTSE 100 is down 0.3%, while France’s CAC 40 is up 0.2%.

 

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