Several bouts of important economic data are due out in the coming days
After last week's attempt at a full recovery from the stock market selloff, indexes are moving modestly higher before the bell. Futures on the Nasdaq-100 Index (NDX), Dow Jones Industrial Average (DJIA), and S&P 500 Index (SPX) are comfortably in the black, as investors focus on the busy week ahead. Several important data releases are on the docket, including the highly anticipated consumer price index (CPI) reading for July and retail sales data.
Continue reading for more on today's market, including:
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 1.8 million call contracts and 1.1 million put contracts exchanged on Friday. The single-session equity put/call fell to 0.60, while the 21-day moving average remained at 0.66.
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Shares of beverage chain
Starbucks Corp (NASDAQ:SBUX) are up 2.3% ahead of the open, after The Wall Street Journal reported that in an attempt to lift the equity's value, Starboard Value bought into the company. SBUX has been
trending lower since May, and is down more than 21% since January.
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Popular airliner JetBlue Airways Corporation (NASDAQ:JBLU)is significantly lower before the bell, last seen off 9.9%. Shares are struggling after the company announced it will offer $400 million in convertible senior notes that will be due in 2029. JBLU also carries a 7.4% year-over-year deficit.
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Qualcomm Inc (NASDAQ:QCOM) is off 1.4% at $164.48 premarket, struggling after a downgrade to "peer perform" from "outperform" at Wolfe Research. The firm cited competitors such as Apple (AAPL) as
looming threats. QCOM is down 17.4% this quarter.
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Chip Exports Send Asian Stocks Mostly Higher
Asian markets settled mostly higher on Monday, following news that South Korea’s memory chip exports to Taiwan showed 225.7% growth compared to the same period last year. As a result, South Korea’s Kospi paced the gainers with a 1.2% gain. Japan’s Nikkei followed behind with a 0.6% pop, while Hong Kong’s Hang Seng settled 0.1% higher, and China’s Shanghai Composite shed 0.1%.
European markets are higher as investors look ahead to key inflation data out of the U.S. and the U.K., due out later this week. London’s FTSE 100 was last seen up 0.5%, the German DAX is 0.3% higher, and France’s CAC 40 is slightly above breakeven with a 0.05% gain.