Dow Futures Flat Amid Hot Consumer Spending Data

Investors are unpacking personal consumption expenditures data

Digital Content Manager
Oct 27, 2023 at 9:27 AM
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Nasdaq-100 Index (NDX) futures are comfortably higher this morning, on the heels of Amazon.com's (AMZN) blowout quarterly results. Futures on the S&P 500 Index (SPX) sport a solid gain as well, while the Dow Jones Industrial Average (DJIA) is looking to open near breakeven. Also in focus is the personal consumption expenditures reading for September, which was in line with estimates, while consumer spending rose a hotter-than-expected 0.7%. 

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

  • Cooling travel demand weighed on airline stock.
  • Options traders blasted IBM stock after earnings.
  • Plus, more on AMZN; Chipotle's rising operating margins; and toy stock downgraded.

Futures 1027

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 exchanged Thursday. The single-session equity put/call ratio fell to 0.77 and the 21-day moving average stayed at 0.68.
  2. Amazon.com, Inc. (NASDAQ:AMZN) stock is up 4.8% in before the bell, after the e-commerce giant reported better-than-expected third-quarter earnings and revenue, the latter of which saw rose 13%. AMZN already boasts a 42.3% year-to-date lead.
  3. Restaurant chain Chipotle Mexican Grill, Inc. (NYSE:CMG) bested analysts' earnings estimates for the third quarter, while revenue met expectations. What's more, level operating margins rose compared to the previous year. CMG is up 4.1% premarket, and boasts a 30.2% lead for 2023.
  4. BofA Global Research downgraded Hasbro, Inc. (NASDAQ: HAS) stock to "neutral" from "buy," and slashed its price target to $35 from $90. The analyst in question noted problems in its consumer products division. The equity also saw another two price-target cuts, and is down 1% ahead of the bell, while sporting 20.7% deficit for the year.
  5. Consumer sentiment and personal spending data came out today

OV Buzz Chart Oct 27

Asian Markets Finish Higher; European Stocks Move Lower

Asian markets finished higher on Friday, as investors unpacked corporate earnings. Hong Kong’s Hang Seng led the gains with a 2.1% pop, while Japan’s Nikkei rose 1.3%, China’s Shanghai Composite added 1%, and the South Korean Kospi tacked on 0.2%.

European stocks, on the other hand, are moving lower today. London’s FTSE 100 is down 0.3% at last look, while the French CAC 40 drops 1.1%, and the German DAX sheds 0.1%.

 

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