Nasdaq, Dow Futures Drop Triple Digits as Rates Rise

Samsung Electronics' profit warning could weigh on the chip and tech sector today

Deputy Editor
Jan 9, 2024 at 9:08 AM
facebook X logo linkedin

Wall Street is facing pressure from rising bond yields ahead of the open this morning, with Dow Jones Industrial Average (DJI) and Nasdaq-100 Index (NDX) futures down triple digits. The tech sector in particular could see headwinds today, after Samsung Electronics' fourth-quarter profit warning due to falling smartphone demand. Elsewhere, the U.S. trade deficit narrowed 2% to $63.2 billion after a decline in imports, which could potentially lift gross domestic product (GDP) in the fourth quarter. 

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

  • Schaeffer's Senior V.P. of Research, Todd Salamone sees a short-term pullback to this SPX trendline. 
  • Signal says pharma stock could stay hot. 
  • Plus, more job cuts to unpack; MTCH's activist investor buzz; and NFLX downgraded. 

futures jan9

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.4 million call contracts and 835,380 put contracts traded on Monday. The single-session equity put/call ratio fell to 0.59, and the 21-day moving average also rose to 0.70. 
  2. Unity Software Inc (NYSE:U) stock is up 2.5% premarket, after the video game company announced a 25% reduction of its workforce, or roughly 1,800 employees. In response, Wedbush raised its price target to $50 from $31. Over the past year, the stock is up 43%. 
  3. Match Group Inc (NASDAQ:MTCH) stock is soaring before the bell, up 13.5% at last glance, after the Wall Street Journal reported activist investor Elliott Investment Management has built a $1 billion stake in the company. The stock has been climbing since its early-November bear gap, and will break into positive territory year-over-year should these gains hold. 
  4. Netflix Inc (NASDAQ:NFLX) stock is down 1.6% in electronic trading, after a series of analyst notes this morning. Citigroup downgraded NFLX to "neutral" from "buy," though BMO initiated coverage with an "outperform" rating and TD Cowen raised its price target to $565 from $500. In the past year, the streaming giant has added 53.7%. 
  5. Pivotal inflation data is looming this week, as well as bank earnings. 


Nikkei Hits 33-Year Highs

Stocks in Asia were mixed Tuesday. Japan’s Nikkei led the gainers with a 1.2% pop, hitting 33-year highs after Tokyo’s inflation rate slowed to 2.4% last month. Elsewhere, China’s Shanghai Composite added 0.2%, Hong Kong’s Hang Seng lost 0.2%, and South Korea’s Kospi lost 0.3%, the latter weighed down by Samsung's profit warning.

European markets are lower this afternoon, as investors in the region await this week's deluge of stateside inflation data. London’s FTSE 100 sports a fractional loss, while France’s CAC 40 is down 0.4% at last glance. Germany’s DAX is off 0.3%, following an unexpected drop in industrial production in November.


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