Stock Futures Backtrack Amid Big Tech Earnings

The Fed will likely be announcing another interest rate hike later today

Deputy Editor
Jul 26, 2023 at 9:00 AM
facebook X logo linkedin

Stock futures are lower this morning, as investors await the Federal Open Market Committee's (FOMC) latest interest rate decision, due out later today. In the meantime, Big Tech earnings are in focus, after reports from Alphabet (GOOGL), Microsoft (MSFT), and Snap (SNAP). All three major indexes are in the red, with futures on the Dow Jones Industrial Average (DJI) down 79 points, following the blue-chip index's 12th consecutive daily win

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

  • A look at Dow streaks, historically, with Schaeffer's Senior Quantitative Analyst Rocky White. 
  • Casino stock flashing historically bullish signal. 
  • Plus, two big names moving after earnings, and WFCs buyback plan. 

Futures July26

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.6 million call contracts and over 957,408 put contacts exchanged on Tuesday. The single-session equity put/call ratio rose to 0.58 and the 21-day moving average stayed at 0.65.
  2. Coca-Cola Co (NYSE:KO) stock is up 1.2% premarket, after the beverage giant announced better-than-expected second-quarter results and lifted its full-year revenue and profit forecasts due to higher prices and steady demand. Heading into today, KO is down 2.1% year-to-date. 
  3. Teladoc Health Inc's (NYSE:TDOC) second-quarter results also beat estimates, leading a handful of analysts to raise their price targets. TDOC is up 7.6% before the bell, and also looking to break into positive territory for 2023. 
  4. Wells Fargo & Co (NYSE:WFC) stock is up 2.1% in electronic trading, after the bank announced a $30 billion buyback plan. Fresh off a four-week win streak, WFC is up 10.1% since the start of the year. 
  5. Today, after the FOMC's interest rate decision, Federal Reserve Chairman Jerome Powell's presser is due. 

Buzz 0726

Stocks Lower Overseas as Well

Asian markets fell on Wednesday, as investors looked ahead to what could be the 11th U.S. interest rate hike since March 2022. South Korea’s Kospi paced the laggards with a 1.7% drop as consumer services and tech stocks tumbled, while Hong Kong’s Hang Seng shed 0.4%. Meanwhile, China’s Shanghai Composite fell 0.3%, and Japan’s Nikkei settled slightly below breakeven.

European markets are also lower ahead of the stateside interest rate decision. Earnings reports are in focus, too, with Deutsche Bank pivoting lower despite its quarterly win, while Rolls-Royce surged after hiking its 2023 profit forecast. At last check, France’s CAC 40 is down 1.8%, the German DAX is 0.8% lower, and London’s FTSE 100 is off by 0.6%.



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 calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI