Quiet Start to Thanksgiving Week on Wall Street

Stock futures are inching lower before the bell

Deputy Editor
Nov 20, 2023 at 9:10 AM
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Stock futures are sluggish to start Thanksgiving week, as Wall Street looks to build on its three-straight weekly wins. Futures on the Dow Jones Industrial Average (DJIA) are down 28 points, while S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures hover just below fair value. Though the market will be closed on Thursday, and at 1 p.m. ET on Friday, there are still a handful of notable earnings reports this week. 

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

  • Options bulls eye surging healthcare stock
  • These retail stocks had a big week. 
  • Plus, BA upgraded; notes on coffee, donut chains; and DKNG's latest bull note. 

Futures Nov20

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw over 1.6 million call contracts and 918,777 puts traded Friday. The single-session equity put/call ratio fell to 0.54 and the 21-day moving average stayed at 0.69.
  2. Boeing Co (NYSE:BA) is up 1.5% premarket, after Deutsche Bank upgraded the blue-chip aerospace stock to "buy" from "hold," with a price-target hike to $270 from $204. Fresh off three-straight weekly wins, BA is up 9.2% in 2023. 
  3. Dutch Bros Inc (NYSE:BROS) stock is up 1.7% before the bell, after J.P. Morgan Securities upgraded the coffee chain to "overweight" from "neutral," while Krispy Kreme Inc (NASDAQ:DNUT) is down 1.8%, after the firm downgraded the donut stock to "neutral" from "overweight." Heading into today, BROS sports a 1.2% year-to-date deficit, while DNUT is up 26.4% since the start of the year. 
  4. DraftKings Inc (NASDAQ:DKNG) received a price-target hike from BTIG to $47 from $38. The stock is flat in electronic trading, but fresh off a two-year high last session. Since the start of the year, the sports betting stock is up 236.9%. 
  5. See what economic data is due out this week.  

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China Leaves Rates Unchanged

Markets in Asia were mostly higher to start the week, after the People’s Bank of China (PBC) left its benchmark one- and five-year loan prime rates unchanged. In response, China’s Shanghai Composite added 0.5%, while Hong Kong’s Hang Seng led the gainers with a 1.9% pop, and South Korea’s Kospi tacked on 0.9%. Elsewhere, Japan’s Nikkei brushed 33-year highs at the beginning of the session, but ultimately closed 0.6% lower.

The major European bourses are mixed this afternoon, as the release of third-quarter corporate earnings slow down. What’s more, investors in the region continue to weigh the prospects of future interest rate moves. At last glance, Germany’s DAX and London’s FTSE are both down 0.4%, while France’s CAC 40 sports a marginal 0.06% lead.

 

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