Stock Futures Flat to Start Fed-Heavy Week

Inflation data will also be sprinkled throughout the week

Deputy Editor
Dec 11, 2023 at 9:21 AM
facebook X logo linkedin


Stock futures are flat this morning, as Wall Street looks towards the Federal Reserve's final interest rate decision of the year. Investors hope to see signs that the central bank will begin to cut interest rates at its meeting later this week. Further, traders await inflation data amid the heat of the holiday shopping season.

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

Futures Chart December 112023

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.5 million call contracts and 892,147 put contracts traded Friday. The single-session equity put/call ratio fell to 0.56, and the 21-day moving average stayed at 0.69.
  2. Shares of Macy's Inc (NYSE:M) is 15.5% higher before the open, after the Wall Street Journal broke the news that two investment firms have offered to buyout the retail giant for $5.8 billion, or $21 per share. Should today's premarket gains hold, it will bring Macy's stock back within striking distance of its year-to-date breakeven mark, which it currently sits nearly 16% below. 
  3. Citi upgraded Nike Inc (NYSE:NKE) to "buy" from "neutral" and hiked its price target to $135, on confidence blue chip's ability to protect its earnings-per-share. Nike stock is 1.6% higher in electronic trading, looking to scale its 0.9% year-to-date deficit.
  4. Meanwhile, RBC upgraded Pinterest Inc (NYSE:PINS), sending the shares 2.7% higher ahead of the start to add to a 54.3% year-over-year lead. The analyst upgraded PNS "outperform" from "sector perform" and hiked its priced target to $46, calling the social media name the way to play the "shift from internet-based ad platforms."
  5. The Fed's final interest rate decision and more inflation data is due out this week.

buzzdec11

Chinese Economic Data Influences Asian markets

Asian markets settled mostly higher on Monday, following a slew of economic data out of China. Specifically, the country’s consumer price index (CPI) fell a wider-than-expected 0.5% compared to last year – its biggest drop since November 2020 – while the producer price index (PPI) shed 3%, which was also more than analysts anticipated. In response, China’s Shanghai Composite added 0.7%, while the South Korean Kospi rose 0.3%. Elsewhere, Japan’s Nikkei jumped 1.5% amid hopes the Bank of Japan (BoJ) will forego an interest rate hike next week, and Hong Kong’s Hang Seng fell 0.8%.

European markets are mixed, as investors anxiously await the U.S. Federal Reserve’s interest rate decision later this week. France’s CAC 40 is up 0.4%, the German DAX is sporting a 0.1% lead, and London’s FTSE 100 is 0.5% lower.

 

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 C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI