Stocks recovered some of their September selloff yesterday
Stock futures are on the rise this morning, as Wall Street looks to extend its rebound from last week's selloff. Futures on the Nasdaq-100 Index (NDX) are indicating the strongest open, while S&P 500 Index (SPX) and Dow Jones Industrial Average (DJI) futures sit modestly higher as well. The NFIB Business Optimism Index dropped 2.5 points to 91.2, as small business owners grow concerned over profits.
Investors are also unpacking the latest Apple (AAPL) event while looking ahead to the first -- and potentially only -- debate tonight between Presidential candidates Kamala Harris and Donald Trump.
Continue reading for more on today's market, including:
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw over 1.1 million call contracts and 744,025 put contracts exchanged on Monday. The single-session equity put/call ratio fell to 0.64 and the 21-day moving average remained at 0.65.
- Oracle Corp (NYSE:ORCL) stock is up 8% premarket, after the cloud company reported better-than-expected fiscal first-quarter results. Should these gains hold, the shares will open at an all-time high. Year to date, ORCL is up 32.7% heading into today.
- Johnson Controls International PLC (NYSE:JCI) is up 2.3% before the bell, after the industrial stock was upgraded by BofA Global Research to "buy" from "neutral." The firm cited 'best-in-class' data center assets. JCI is up 19% in 2024.
- Shares of Hewlett Packard Enterprise Co (NYSE:HPE) is down 5.6% in electronic trading, after the company announced it will sell $1.35 billion in Series C convertible notes to fund recently acquired Juniper Networks. Should these losses hold, HPE will drop into negative territory for the year.
- What's out this week aside from inflation data.
Markets Muted Overseas
Markets in Asia finished on either side of the aisle, as investors digested strong export data out of China, which showed 8.7% year-over-year growth for August. Meanwhile, imports rose a lower-than-expected 0.5%. Shares of Alibaba (BABA) gave Hong Kong’s Hang Seng a lift, with the index closing 0.2% higher. Elsewhere, China’s Shanghai Composite added 0.3%, Japan’s Nikkei fell 0.2%, and South Korea’s Kospi dropped 0.5%.
Indexes across the pond are also mixed, as the tech sector shifts higher and healthcare stocks struggle. At last look, London’s FTSE 100 is down 0.5%, France’s CAC 40 is up 0.3%, and Germany’s DAX is sporting a 0.4% deficit.