Stock Futures Modestly Lower After Yesterday's Rally

Quadruple witching could make for a choppy market today

Deputy Editor
Sep 15, 2023 at 9:22 AM
facebook X logo linkedin


It's a fairly quiet morning on Wall Street following yesterday's rally, but with quadruple witching looming, it could be a choppy day for investors. Stock futures are inching lower at last glance, though all three major benchmarks are eyeing weekly wins. The New York Fed’s Empire State business conditions index rebounded 21 points to 1.9 in September, reversing August's steep loss and wiping out analyst expectations of negative 10. Elsewhere, U.S. import prices rose 0.5% for the biggest gain so far this year. 

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

  • Smooth sailing for these 2 cruise stocks
  • Semiconductor stocks get halo lift from Arm's IPO
  • Plus, NKLA extends gains; auto workers strike; and another airline lowers forecast. 

futures sep15

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw over 1.3 million call and more than 1.1 million put contracts exchanged on Thursday. The single-session equity put/call ratio fell to 0.85 and the 21-day moving average stayed at 0.66.
  2. Nikola Corp (NASDAQ:NKLA) is up 13.9% premarket, after news that the company is partnering with ITD Industries to expand in Canada. The stock is extending yesterday's 32.3% pop, after newly appointed CEO Steve Girsky addressed key investor concerns. Year-to-date, the equity is down 46.8%. 
  3. General Motors Company (NYSE:GM) is down 0.3% before the bell, while Ford Motor Co (NYSE:F) drops 1%, as workers continue to strike at key auto plants. Since the start of the year, GM is flat, while F sports a 14% lead. 
  4. Delta Air Lines Inc (NYSE:DAL) has been in the spotlight this week. The airline yesterday cut its earnings forecast amid higher fuel costs, and earlier this week made it harder for customers to get into exclusive airport lounges. Delta stock is down 0.1% premarket and up 19.7% since the start of the year. 
  5. See what economic data is scheduled next week. 

buzzsept15

China Posts Upbeat Economic Data

Stocks in Asia closed out the week mostly higher, bolstered by upbeat economic data out of China. Specifically, the country’s retail sales and factory output beat expectations in August, but fixed asset investment missed the mark. Surprisingly, China’s Shanghai Composite was the only laggard, losing 0.3%, while Hong Kong’s Hang Seng tacked on 0.8%. Rounding out the region, South Korea’s Kospi and Japan’s Nikkei both rose 1.1%, the latter nearing 33-year highs.

European markets are higher midday, as investors continue bask in rumors that the European Central Bank (ECB) may have just issued its last interest rate hike. In a statement, the ECB said, “Based on its current assessment, the Governing Council considers that the key ECB interest rates have reached level that… will make a substantial contribution to the timely return of inflation to the target.” At last glance, London’s FTSE 100 was 0.8% higher, while France’s CAC 40 and Germany’s DAX were up 1.7% and 1%, 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