Stock Futures Muted as Oil, Bond Yields Cool

Wall Street continues to weigh the risks of the Israel-Hamas war

Digital Content Manager
Oct 10, 2023 at 9:04 AM
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Futures on the Dow Jones Industrial Average (DJIA) are modestly higher this morning, while Nasdaq-100 Index (NDX) and S&P 500 Index (SPX) futures sit flat, as oil prices and the 10-year Treasury yield take a breather. Wall Street continues to weigh the risks associated with the Israel-Hamas war, which CFRA Research says is unlikely to spur a bear market.

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

  • Can bulls keep newly seized control?
  • Biotech stock downgraded after buyout.
  • Plus, PEP rises on earnings beat; Palantir scored U.S. army contract; and EV stock upgraded.

Futures 1010

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw 973,669 million call contracts and 640,185 puts exchanged on Monday. The single-session equity put/call ratio dropped to 0.66 and the 21-day moving average stayed at 0.67.
  2. PepsiCo, Inc. (NASDAQ:PEP) reported a fiscal third-quarter earnings and revenue beat this morning, and raised its annual profit forecast. PEP is up 1.6% in premarket trading, but carries a 10.7% year-to-date deficit.
  3. Palantir Technologies Inc(NYSE:PLTR) scored a $250 million contract with the U.S. army to test and develop artificial intelligence and machine learning. PLTR is up 1.8% ahead of the open, and has added more than 174% so far this year.
  4. UBS upgraded Rivian Automotive Inc (NASDAQ:RIVN) to "buy" from "neutral" earlier, with the analyst in question noting the company's improving fundamentals. Shares are up 2.5% before the bell, and have shed 44.7% in the past 12 months.
  5. Wholesale inventories data is on tap today.

OV Buzz Chart Oct 10

European Markets Higher

Japan’s Nikkei came back from holiday to score an impressive 2.4% pop, as energy and distribution stocks gave the benchmark a boost. Hong Kong’s Hang Seng finished up 0.8%, while China’s Shanghai Composite dropped 0.7%. The South Korean Kospi reversed its earlier gains to settled 0.3% lower, hitting its lowest level since March.

European bourses are firmly higher at last glance. London’s FTSE 100 is up 1.5%, after U.K. retail sales rose by 2.7% in September, while the French CAC 40 tacks on 1.3%, and the German DAX jumps 1.5%.

 

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