Stock Futures Bounce Back After Abysmal Week

Retail sales jumped more than expected last month

Deputy Editor
Apr 15, 2024 at 9:23 AM
facebook X logo linkedin


Stock futures are higher across the board Monday morning, rebounding from a downbeat week thanks to two major catalysts. Futures tied to the Dow Jones Industrial Average (DJIA) and Nasdaq-100 Index (NDX) are up triple digits, as investors react positively to a round of bank earnings. Elsewhere, retail sales jumped 0.7% in March, beating expectations.

In other news, Iran attacked Israel on Saturday. The drone and missile strikes caused minimal damage, and though retaliation concerns remain there's optimism that there won't be a major interruption in oil supplies. 

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

  • Revisiting last week's inflation readings.
  • China headwinds pressured 2 chip stocks
  • Plus, Goldman Sachs' earnings; oil stocks respond to Iran's attack; and a surging REIT stock.

Futures Chart April 152024

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.5 million call contracts and 1 million put contracts exchanged Friday. The single-session equity put/call ratio rose to 0.68, while the 21-day moving average held steady at 0.71.
  2. Goldman Sachs Group Inc (NYSE:GS) helped kick off a week rife with earnings from major financial institutions. The bank name reported first-quarter earnings of $11.58 per share on $4.13 billion in profit, both of which beat analysts' expectations. Up 4% premarket, GS is looking to add to its slim 1% year-to-date gain.
  3. Exxon Mobil Corp (NYSE:XOM) stock is 0.4% higher before the bell, after Iran's drone attack on Israel this weekend resulted in less damage than anticipated. XOM is up 20.4% this year.
  4. The largest hospital landlord in the U.S. and real estate investment trust (REIT) Medical Properties Trust Inc (NYSE:MPW) is selling its interests in five Utah hospitals for $886 million. MPW boasts a 23.8% premarket lead following the news, as it looks to overcome an 18.7% year-to-date deficit. 
  5. The Fed's Beige Book and retail sales data are coming this week.

buzzapr15

Overseas Stocks React to Middle East Conflict

Asian markets took a hit today, as geopolitical tensions between Iran and Israel reached a boiling point, after the former launched over 300 drones at military targets in Israel over the weekend. Japan’s Nikkei shed 0.7% but pared steeper losses, while South Korea’s Kospi lost 0.4%, with small caps falling to two-month lows. Hong Kong’s Hang Seng gave back 0.7%, while China’s Shanghai Composite was the region’s only winner, adding 1.3% ahead of first-quarter gross domestic product (GDP) data due out tomorrow.

Bourses in Europe are choppy, with oil stocks vulnerable amid the turmoil. At last check, London’s FTSE 100 was marginally lower, the French CAC 40 and German DAX are 1.1% higher.

 

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