Index Futures Mixed as Jobless Claims Hit Nearly 2-Year High

Stock futures are pointing to another meek session on Wall Street

Digital Content Manager
Jun 8, 2023 at 9:28 AM
facebook X logo linkedin


Following yesterday's mixed session, stock futures are headed for another meek open this morning, as investors dig through the latest round of jobs data. Unemployment claims hit their highest level since October 2021 last week, with Ohio and California accounting for most of the increase to 261,000. At last check, futures on the Dow Jones Industrial Average (DJIA) are down 61 points, while the Nasdaq-100 Index (NDX) and S&P 500 Index (SPX) sit at, or just above, breakeven.

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

Futures 0608

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 2 million call contracts and more than 1.1 million put contracts exchanged on Wednesday. The single-session equity put/call ratio rose to 0.59 and the 21-day moving average stayed at 0.69.
  2. GameStop Corp (NYSE:GME) is down 20.9% ahead of the open, after the video game retailer reported wider-than-expected first-quarter losses and a revenue miss. The company also fired CEO Matt Furlong and made top shareholder Ryan Cohen its executive chairman. GME is down 28.7% year-over-year, despite its 41.4% lead in 2023.
  3. T-Mobile Us Inc (NASDAQ: TMUS) attracted an upgrade form Wolfe Research to "outperform" from "peer perform." Though the security carries a 9.6% year-to-date deficit, the analyst in question said it stands to gain more than 20% after a recent selloff. In response, TMUS is up 0.7% before the bell.
  4. Signet Jewelers Ltd (NYSE: SIG) stock is down 10.8% in premarket trading, after the company issued disappointing second-quarter revenue and operating-income forecasts, and cut its earnings and revenue outlook for 2024. The jewelry retailer cited macro economic pressures that impacted Mother’s Day sales. SIG still sports a 7.8% year-over-year lead, though.
  5. Today also features wholesale inventories.

OV Buzz Chart June 8

European Markets Inch Higher Despite Technical Recession

Stocks in Asia finished on both sides of the aisle on Thursday. China’s Shanghai Composite led gains with a 0.5% win, after the country’s six state-owned commercial banks cut deposit rates, per CNBC. Hong Kong’s Hang Seng followed behind with a 0.3% win, while the South Korean Kospi shed 0.2%, and Japan’s Nikkei dropped 0.9%. Japan’s annualized gross domestic product (GDP) for the first quarter was revised to 2.7%, which is higher than the anticipated 1.9% and initial 1.6% reading.

European markets are inching higher today. The latest GDP figures revealed that the euro zone was in a technical recession during the first quarter of the year, while the Organisation for Economic Cooperation and Development (OECD) unemployment rate for the region decreased slightly to 6.5% in April. London’s FTSE 100 is up 0.03% at last glance, while the French CAC 40 and German DAX rise 0.5% and 0.3%, respectively.

 

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