Stock Futures Higher as Wall Street's Rally Looks to Resume

Payrolls data suggests an easing jobs market

Deputy Editor
Dec 6, 2023 at 9:24 AM
facebook X logo linkedin

It looks like Wall Street's rally is getting back on track, with futures on all three benchmarks higher before the bell. The pop follows a batch of upbeat economic data, including a larger-than-expected drop in labor costs, a jump in productivity, and ADP's private payroll data that showed the job market is easing up. 

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

Futures Chart December 62023

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw nearly 1.1 million call contracts and 626,550 put contracts traded Tuesday. The single-session equity put/call ratio rose to 0.57 and the 21-day moving average stayed at 0.69.
  2. Shares of Shopify Inc (NYSE:SHOP) are 1.5% lower before the bell, after the e-commerce company held its investor day. At least one analyst in attendance called the event "half a victory lap," while another said the "shares may consolidate a bit here." Year-to-date, Shopify stock is up 115.3%.
  3. PayPal Holdings Inc (NASDAQ:PYPL) is down 0.6% premarket after Bank of American downgraded the shares to "neutral" from "buy," saying new CEO Alex Chriss puts the online payments company in position for a "transition year." Coming into today, PYPL was down 18.7% in 2023.
  4. Toast Inc (NYSE:TOST) is 3.2% lower in electronic trading, looking to add to a  17.5% year-to-date deficit following a bear note from BoFA Global Research. The analyst downgraded TOST to "neutral" from "buy," saying uncertainties regarding macro spending trends and competition could pressure the restaurant services software company.
  5. The first week of December features a deluge of economic data and earnings.


Stocks in Asia Pop Amid BoJ Survey

Asian markets were mostly higher on Wednesday, as investors digested the Bank of Japan’s (BoJ) Tankan survey, which pointed to improving sentiment among manufacturers in the region. In response, Japan’s Nikkei added 2%, as commercial services and utilities stocks rallied. Meanwhile, Hong Kong’s Hang Seng rose 0.8%, South Korea’s Kospi saw a marginal 0.04% increase, and China’s Shanghai Composite shed 0.1%.

European markets are higher as well, with mining stocks enjoying tailwinds from higher metal prices. France’s CAC 40 is up 0.6% at last glance, while London’s FTSE 100 sports a 0.5% lead. The German DAX boasts a 0.4% gain, too, as it looks to extend yesterday’s record highs.


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