Stock futures are headed lower despite yesterday's gains
Futures tied to the Nasdaq-100 Index (NDX), Dow Jones Industrial Average (DJIA), and S&P 500 Index (SPX) are lower before the bell, cooling off from yesterday's impressive gains. Goldman Sachs analysts noted market recovery may not be linear, with indexes expected to be “choppy but higher.” Earnings season is also in full swing, with traders taking in reports from Paramount Global (PARA), e.l.f Beauty (ELF), Take-Two Interactive Software (TTWO), and more.
Continue reading for more on today's market, including:
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 1.4 million call contracts and 1.3 million put contracts exchanged on Thursday. The single-session equity put/call rose to 0.97, while the 21-day moving average remained at 0.66.
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Entertainment stock
Warner Bros. Discovery Inc (NASDAQ:WBD) is up 0.3% ahead of the open, attempting to brush off a disappointing second-quarter earnings report and $9.1 billion write-down, which triggered a flurry of bear notes.
WBD is off nearly 40% in 2024.
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A generative artificial intelligence (AI) assistant is coming to employees of
JPMorgan Chase & Co (NYSE:JPM),
as the company begins its technology growth phase. LLM Suite has been introduced to over 60,000 employees already. JPM
fell after earnings and is down 0.2% before the open, but rose roughly 20% since January.
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Taiwan Semiconductor Co. Ltd. (NYSE:TSM) stock is enjoying a 2.3% pre-market lead, after the company shared
upbeat revenue for July. Despite a pullback on the charts in the last few weeks, TSM boasts a more than 75% year-over-year gain.
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Chinese Data Sends Stocks Mostly Higher
Asian markets settled mostly higher on Friday, after China’s consumer price index (CPI) reading showed a bigger-than-expected increase in July, while the producer price index (PPI) fell less than analysts anticipated. In response, Hong Kong’s Hang Seng gained 1.2%, while China’s Shanghai Composite dropped 0.3%. Meanwhile, South Korea’s Kospi and Japan’s Nikkei added 1.2% and 0.6%, respectively.
European markets are also higher, mirroring their U.S. and Asia counterparts as investors unpack earnings reports and await inflation data out of Germany. London’s FTSE 100 was last seen up 0.4%, France’s CAC 40 is 0.3% higher, and the German DAX is slightly above breakeven with a 0.07% gain.