Nasdaq Futures Rise After Tech Earnings

Rising bond yields are weighing on the broader market

Digital Content Manager
Feb 2, 2024 at 9:19 AM
facebook X logo linkedin

Wall Street is unpacking a stronger-than-expected jobs report before today's open, with nonfarm payrolls growing by 353,000 compared to the anticipated rise of 185,000, while the unemployment rate came in at a slightly cooler-than-expected 3.7%. Treasury yields pivoted higher in response, sending the Dow Jones Industrial Average (DJI) down nearly triple digits. Futures on the Nasdaq-100 (NDX) are still managing a comfortable lead, however, due to post-earnings gains from (AMZN) and Meta Platforms (META), while S&P 500 Index (SPX) futures inch higher as well. 

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

OV 0202

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.3 million call contracts and 858,066 put contracts traded on Thursday. The single-session equity put/call ratio fell to 0.64 while the 21-day moving average remained at 0.71.
  2. Inc (NASDAQ:AMZN) announced a fourth-quarter earnings and revenue win after yesterday's close, with growth in its cloud division contributing to these results. AMZN attracted at least 20 price-target hikes in response, with J.P. Morgan Securities and TD Cowen raising their objectives to $225 from $190 and $200, respectively. Over the last 12 months, the e-commerce stock has added 51.5%, and today sports a 7.1% premarket lead.
  3. Apple Inc (NASDAQ:AAPL) is brushing off a fiscal first-quarter top- and bottom-line beat, down 3.5% before the bell, due to shrinking China sales. Analysts are chiming in, with no fewer than three issuing price-target cuts while two hiked their objectives. The security still sports 28.5% year-over-year lead, though.
  4. Meta Platforms Inc (NASDAQ: META) stock boasts a 16.9% lead ahead of the open, after the Facebook parent revealed it tripled profits in the fourth quarter and saw a dramatic jump in revenue. The company attributed the blowout results to cost-cutting and a rebound in advertising. Plus, the company announced its first dividend, which will pay investors 50 cents a share on March 26. META added 157.8% in the last year.
  5. The week closes out with a slew of economic data

OV Buzz Chart Feb 2

Kospi Surges After Inflation Data

In Asian markets, the South Korean Kospi led the gainers with a 2.9% pop on Friday, after the country’s consumer price index (CPI) rose 2.8% year-over-year, slightly below analysts’ estimated 2.8% reading and a third-straight monthly decline. Japan’s Nikkei followed with a 0.4% rise, while China’s Shanghai Composite and Hong Kong’s Hong Song fell 1.5% and 0.2%, respectively.

European bourses are higher at last glance, with autos pacing the winning sectors so far after a busy week of earnings and bank decisions. London’s FTSE 100 is up 0.5%, while the French CAC 40 rises 0.6%, and the German DAX tacks on 0.8%.


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