Stock Futures Claw Higher After Earnings, Jobs Data

Jobs data implied the labor market remains resilient

Deputy Editor
Apr 18, 2024 at 9:19 AM
facebook X logo linkedin

After the three major indexes yesterday saw additional losses, futures tied to the Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq-100 Index (NDX) are above fair-market value, as more quarterly reports roll in. So far, more than 11% of SPX components have reported earnings, with mostly positive results.

In other news, jobless claims for last week came in at 212,000, staying within a range not consistently seen since the 1960s. The flat reading implies the labor market is still resilient, with layoffs and unemployment both lower than expected. 

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

Futures Chart April 182024

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw nearly 1.1 million call contracts and more than 1.3 million put contracts exchanged Wednesday. The single-session equity put/call ratio surged to 1.13, while the 21-day moving average stayed at 0.71.
  2. Shares of Taiwan Semiconductor Mfg. Co. Ltd. (NYSE:TSM) are 3.2% lower before the bell, despite the semiconductor name beating earnings and revenue estimates for the first quarter. An earthquake in Taiwan led it to scrape some of its wafers, however. TSM is up 33.7% this year.
  3. DR Horton Inc (NYSE:DHI) sports a 5.2% premarket lead, looking to overcome a 4.1% year-to-date deficit after earnings. This rise follows the home builders' fiscal second-quarter financial report, in which the company beat earnings and revenue expectations.
  4. Casino name Las Vegas Sands Corp. (NYSE:LVS) reported first-quarter profits of 66 cents per share, beating analyst estimates thanks to strong growth in Singapore, as well as a revenue beat. LVS is brushing off the results, down 4.7% ahead of the open, due to disappointing Macau results.
  5. Speeches from multiple central bank presidents are slated to close out the week.


Asian Markets Stage Comeback

Asian markets bounced back today, with airline stocks as notable winners across the board thanks to falling oil prices. South Korea’s Kospi paced the region with a nearly 2% win, thanks to outsized moves from small caps. Japan’s Nikkei snapped a three-day skid to tack on 0.3%, after a Bank of Japan (BoJ) member noted their pace of rate hikes would be slower than its global peers.  Hong Kong’s Hang Seng rose 0.8%, while China’s Shanghai Composite finished just above breakeven.

European bourses are also mostly higher, at last check. London’s FTSE 100 is up 0.2% as the British pound outpaces the U.S. dollar, the French CAC 40 is 0.3% higher, and the German DAX is flat.


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