Dow Futures Up 120 Points, Headed for Weekly Win

The S&P 500 and Nasdaq are headed for their third-straight weekly wins as well

Deputy Editor
Nov 17, 2023 at 9:18 AM
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Futures on the Dow Jones Industrial Average (DJIA) are enjoying a solid triple-digit lead ahead of the bell this morning, while the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) hover around fair value. For the week, all three benchmarks are headed for a third-straight win. Meanwhile, this morning's U.S. housing starts data showed construction of new homes rose 1.9% in October. 

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

Futures Nov17

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw over 1.3 million call contracts and 846,207 puts traded Thursday. The single-session equity put/call ratio rose to 0.64 and the 21-day moving average stayed at 0.69.
  2. Gap Inc (NYSE:GPS) is up 18.4% premarket, soaring after its upbeat third-quarter earnings report, brushing off a bleak holiday-quarter forecast. Plus, no fewer than nine analysts lifted their price targets. Should these gains hold, GPS will mark a fresh 52-week high. 
  3. Expedia Group Inc (NASDAQ:EXPE) is up 3% before the bell, after an upgrade from Evercore ISI to "outperform" from "in line," with a price-target hike to $200 from $135. Since the start of the year, EXPE is up 48.2%, and on track for a new 2023 peak. 
  4. Marriott Vacations Worldwide Corp (NYSE:VAC) is down 2.1% in electronic trading, after BofA Global Research downgraded the stock to "underperform" from "neutral." Since the start of the year, the equity is down 39.5%. 
  5. See what economic data is due out next week.  

buzznov17

Alibaba Stock Dragged the Hang Seng

Stocks in Asia closed the week mixed. Hong Kong’s Hang Seng paced the laggards, shedding 2.1% after Alibaba (BABA) lost roughly 10% on Friday. The South Korean Kospi, meanwhile, turned in a 0.7% loss. Rounding out the region, Japan’s Nikkei rose 0.5%, and China’s Shanghai Composite added 0.1%.

European markets are higher this afternoon, with financial services and basic resources stocks leading the charge. At last glance, London’s FTSE was up 0.7%, while France’s CAC 40 and Germany’s DAX were both 0.8% higher.

 

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