Stock Futures Choppy Ahead of "Triple Witching" Friday

Manufacturing data fell sharply, while import prices rose

Deputy Editor
Mar 15, 2024 at 9:18 AM
facebook X logo linkedin


Stock futures are mixed to finish off a busy week of inflation data, as investors brace for volatility that may come from "Triple Witching" Friday. This means that stock options, market index options and market index futures all expire today, as they do once every quarter. 

In the meantime, the New York Fed’s Empire State manufacturing gauge fell 18.5 points to negative 20.9 in March, its third-straight negative reading. Elsewhere, import prices rose for the second month, adding 0.3% in February and contributing to inflation. 

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

  • Back to basics: applying money management principles to options trading. 
  • Retail stock hit record highs after earnings. 
  • Plus, analyst sees upside for RIVN; and two stocks plummeting after earnings. 

Futures March 15

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.4 million call contracts and 926,923 put contracts exchanged Thursday. The single-session equity put/call ratio rose to 0.63, while the 21-day moving average remained at 0.71.
  2. Rivian Automotive Inc (NASDAQ:RIVN) stock is up 3.7% premarket, after an upgrade from Piper Sandler to "overweight" from "neutral," with a price-target hike to $21 from $15. Heading into today, the embattled electric vehicle (EV) stock is down 54.4% since the start of the year. 
  3. Jabil Inc (NYSE:JBL) stock is down 11.2% before the bell, after the electronics company's annual forecast came in below expectations, despite fiscal second-quarter earnings narrowly beating estimates. Dropping further from last week's record highs, the equity is up 83.6% since last March. 
  4. The shares of Adobe Inc (NASDAQ:ADBE) are off 11.3% in electronic trading, despite upbeat fiscal first-quarter results, after the software company's disappointing current-quarter guidance. A flood of analysts slashed their price targets after the earnings event. Year over year, ADBE is up 71%, but is slightly lower year-to-date. 
  5. Next week will bring a handful of economic data, as well as the Federal Reserve's latest interest rate decision

buzzmar15

Stocks Drop in Asia Despite Wage Growth in Japan

Markets in Asia were mostly lower today, as investors unpacked yesterday’s hotter-than-expected U.S. inflation data. China’s Shanghai Composite was the region’s only winner, adding 0.5% following a drop in housing prices and a People’s Bank decision to keep its one-year lending facility rate at 2.5%. Japan’s Nikkei slid 0.3%, even after Rengo, the country’s biggest trade union, said employees are expecting the largest surge in compensation in over 30 years. Elsewhere, Hong Kong’s Hang Seng pulled back 1.4% as healthcare stocks weighed, while South Korea’s Kospi led losses with a 1.9% drop.

Across the pond, investors are in better shape, with all three indexes higher at midday. At last check, London’s FTSE 100 is up 0.2%, Germany’s DAX has added 0.4% thanks to a 10% post-earnings pop from HelloFresh, and France’s CAC 40 is up 0.5%.

 

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