Stock Futures Flat After Busy Fed Week

A few last-minute, big-name earnings reports will trickle in this week

Emma Duncan

Managing Editor

Aug 26, 2024 at 9:05 AM

After Friday's comments from Federal Reserve Chair Jerome Powell implied looming rate cuts, futures on the S&P 500 Index (SPX), Dow Jones Industrial Average (DJIA), and Nasdaq-100 Index (NDX) are modestly mixed. Though reports have slowed, a few big-name earnings are slated to enter the confessional this week, including Nvidia (NVDA), Salesforce (CRM), and CrowdStrike (CRWD).

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

Analyst: Ample growth potential for this retailer
Catch up on last week's Fed updates.
Plus, quarterly report drags PDD; Boeing's latest buzz; and retailer lands bull note.

5 Things You Need to Know Today

The Cboe Options Exchange (CBOE) saw 1.4 million call contracts and 778,210 put contracts exchanged on Friday. The single-session equity put/call ratio fell to 0.55 and the 21-day moving average remained at 0.66.
Shares of PDD Holdings Inc (NASDAQ:PDD) are suffering a steep 16.6% plunge to trade at $116.30 before the bell, struggling after a disappointing quarterly report. Increasing competition and an inability to deal with rising revenue pressure were the main catalysts behind the result. Coming into today, PDD is just below breakeven for 2024.
Boeing Co (NYSE:BA) is off 0.9% ahead of the open, after NASA said it will work with SpaceX to bring home the stranded astronauts aboard the International Space Station. Controversial BA is extending its long-term losses, now sporting a 32% year-to-date deficit.
Retailer BJ's Wholesale Club Holdings Inc (NYSE:BJ) is enjoying a pre-market jump of 1.4%, slated to open at $83.90, after landing a bull note from JPMorgan Securities. The brokerage upgraded BJ to "neutral" from "underweight," citing the company's reinvestment into itself and its benefits. BJ is fresh off a bear gap, but with today's gains will look to break back above the new pressure at its 100-day moving average.
Stay up-to-date with the latest earnings and economic schedule.

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Markets in Asia Mixed as Conflicts Rise in the Middle East

Asian markets were mixed on Monday, as traders unpacked last week’s remarks from Powell and monitored the conflict between Israel and Hezbollah. They also looked ahead to China’s medium-term lending rate decision. Japan’s Nikkei shed 0.7%, while South Korea’s Kospi dropped 0.1%. Elsewhere, China’s Shanghai Composite and Hong Kong’s Hang Seng added 0.04% and 1.1%, respectively.

European markets are mostly higher on the heels of Germany’s Ifo survey, which pointed to declining business sentiment in August. Investors are already looking ahead to euro zone inflation data, which is due out on Friday, as they monitor conflict in the Middle East as well. The German DAX was last seen 0.09% lower, France’s CAC 40 sports a 0.3% lead, and London’s FTSE is up 0.5%.

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