Stock Futures Sink; Bond Yields Hit 16-Year High

The 10-year Treasury yield conquered 5% after yesterday's close

Digital Content Manager
Oct 20, 2023 at 9:17 AM
facebook X logo linkedin


Dow Jones Industrial Average (DJIA), S&P 500 Index (SPX), Nasdaq-100 Index (NDX) futures are firmly in the red this morning, with comments from Federal Reserve Chairman Jerome Powell noting lower economic growth may be needed to bring down inflation in focus. Plus, the 10-year Treasury yield conquered 5% for the first time in 16 years after yesterday's close, putting the major benchmarks on track for weekly losses.

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

  • Options bears love this struggling REIT.
  • Pultegroup stock soon could resume rally.
  • Plus, AXP brushes off earnings beat; SEDG sinks on slashed outlook; and crypto stock surging.

Futures 1020

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.3 million call contracts and 1 million puts traded on Thursday. The single-session equity put/call ratio rose to 0.78 and the 21-day moving average stayed at 0.68.
  2. American Express Company (NYSE:AXP) stock is down 0.4% before the open, despite the credit card name reporting better-than-expected earnings and revenue for the third quarter. Should these losses hold, AXP could slip for a third straight session.
  3. SolarEdge Technologies Inc (NASDAQ:SEDG) yesterday slashed its outlook for the third quarter amid cancellations, and attracted a downgrade from Deutsche Bank to "hold" from "buy" as demand weakens. The shares are down 29.8% in premarket trading, and shed more than 10% in just the last two days.
  4. Marathon Digital Holdings Inc (NASDAQ:MARA) is up 4.2% ahead of the bell, as the crypto sector enjoys tailwinds from Bitcoin's (BTC) surge. MARA is up 125.4% so far in 2023.
  5. Check out what's coming next week

OV Buzz Chart Oct 20

Notable Losses Across Asian, European Markets

Markets in Asia closed with notable losses, following stateside inflation comments. and Japan’s inflation rising above the Bank of Japan’s (BOJ) 2% goal – its 18th consecutive month above the mark. In China, central banks kept rates unchanged. Japan’s Nikkei dropped 0.5%, China’s Shanghai Composite and Hong Kong’s Hang Seng both slid 0.7%, and South Korea’s Kospi fell 1.7%.

Sights remain grim over in Europe, too, with all the major indexes suffering steep drops. In Germany, the country’s producer pricing for industrial products suffered a record drop for September, sending the DAX off 1.3% at last glance. London’s FTSE 100 was last seen 0.9% lower, while France’s CAC 40 suffers a 1.2% midday drop.

 

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