Stock Futures Static as Earnings Roll In

All three major benchmarks extended their win streaks yesterday

Deputy Editor
Nov 8, 2023 at 9:20 AM
facebook X logo linkedin

The stock market is quiet this morning, as investors unpack the latest corporate reports and look ahead to see if all three major indexes can extend their win streaks. Comments from Fed Chair Jerome Powell this morning could move the needle when the market opens. At last check, futures on the Dow Jones Industrial Average (DJIA) are sporting a modest gain, while S&P 500 (SPX) and Nasdaq-100 Index (NDX) futures hover around fair value. 

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

  • What day should you buy stocks? Schaeffer's Senior Quantitative Analyst Rocky White broke down the data. 
  • Podcast: all about this absurd 0DTE volume
  • Plus, two stocks moving higher after earnings, and an entry point for PWR. 

futures nov8

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw over 1 million call contracts and 697,222 puts traded Tuesday. The single-session equity put/call ratio fell to 0.65 and the 21-day moving average stayed at 0.68.
  2. Roblox Corp (NYSE:RBLX) stock is up 12.9% premarket, after the online gaming company's narrower-than-expected third-quarter losses per share and upbeat revenue. Roblox also beat booking estimates, with bookings up 20% from a year ago. Should these gains hold, RBLX will have completely recovered its early-August post earnings bear gap. 
  3. Ralph Lauren Corp (NYSE:RL) stock is up 1.5% before the bell, after steady demand helped the retailer to a fiscal second-quarter sales beat. Since the start of the year, the equity is up 6.8%. 
  4. The shares of Quanta Services Inc (NYSE:PWR) are up 2.1% in electronic trading, after Goldman Sachs upgraded the utility stock to "buy." The firm sees an attractive entry point for the "beaten-down stock," amid continued need for the company's services. PWR is up 15.8% in 2023. 
  5. See what economic data is scheduled this week.  


European Markets Rise Despite Retail Sales Data

Markets in Asia closed Wednesday lower, with South Korea’s Kospi losing 0.9% and erasing most of its early week gains that followed a re-imposed ban on short selling. In Japan, the Nikkei closed 0.3% lower, even after business sentiment improved for the first time since August. Rounding out the region, Hong Kong’s Hang Seng and China’s Shanghai Composite lost 0.6% and 0.2%, respectively.

Sentiment in Europe is higher, as investors brush off falling retail sales data amid upbeat corporate earnings. Eurostat’s latest report showed euro zone retail sales dipped 0.3% in September, slightly more than the expected 0.2% drop. At last glance, London’s FTSE 100 is 0.1% higher, while Germany’s DAX is up 0.2%, and France’s CAC 40 sports a 0.4% lead.



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