Dow Futures Rise as Weekly Gains Pile Up

All three major indexes have solid weekly wins in sight

Laura McCandless

Deputy Editor

Sep 13, 2024 at 9:04 AM

Futures on the Dow Jones Industrial Average (DJIA) are up 65 points ahead of the bell, while S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures hover around fair value. Barring a dramatic turn of events, all three major indexes will look to build on sizable weekly wins today. With this week's key inflation data in the rear view, investors are looking ahead to next week's interest rate decision from the Federal Reserve. In the meantime, import prices fell 0.3% in August.

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

Goldman Sachs stock could continue to rebound.
Options strategies: understanding iron condors.
Plus, Boeing workers strike; AZN downgraded; and ADBE drops on guidance.

5 Things You Need to Know Today

The Cboe Options Exchange (CBOE) saw over 1.8 million call contracts and more than 1 million put contracts exchanged on Thursday. The single-session equity put/call ratio fell to 0.57 and the 21-day moving average remained at 0.65.
Boeing Co (NYSE:BA) stock is down 4.4% premarket, after the airline manufacturer's factory workers rejected the new labor contract and went on strike. Year to date, the equity is down 37.6%.
AstraZeneca plc (NASDAQ:AZN) stock is off 1.8% before the bell, after the drugmaker was downgraded by Deutsche Bank to "sell" from "hold." On track for its biggest weekly decline since July 2023, the equity is still up 17.3% year to date.
Shares of Adobe Inc (NASDAQ:ADBE) are down 8.8% in electronic trading, after the software company's disappointing current-quarter guidance overshadowed upbeat fiscal third-quarter results. Heading into today, ADBE is down 1.7% in 2024.
What's coming up next week aside from the Fed's interest rate decision.

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Yen Hits Year High

Indexes in Asia finished on either side of the aisle today, as Samsung Electronics suffered a steep loss, and the yen in Japan hit a 2024 high. In response, markets in China slipped to five-year lows and the region’s Shanghai Composite fell 0.5%. Consumer price index (CPI) data out of India was also in focus, coming in better than expected. For the session, South Korea’s Kospi finished up 0.1%, Hong Kong’s Hang Seng added 0.8%, and Japan’s Nikkei shed 0.7%.

The European Central Bank’s (ECB) decision to slash inflation rates yesterday is still in focus, as well as news that France saw a 1.8% inflation drop in August, indicating softening price pressure. The major indexes are higher in response, with London’s FTSE 100 up 0.3% alongside France’s CAC 40, while Germany’s DAX is 0.6% higher at last check.

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