ELECT 24 Top Ad

Stock Futures Flat as Inflation Data Resassures

Bank earnings are beginning to roll in, the unofficial signal of earnings season

Deputy Editor
Oct 11, 2024 at 9:22 AM
facebook X logo linkedin


Stock futures are struggling for direction in Friday's premarket trading, as investors begin to unpack the beginnings of the final earnings earnings season of 2024. The latest inflation data is easing some concerns on Wall Street, after September's producer price index (PPI) came in flat and below economists' expectations of a 0.1% gain. For now, all three major benchmarks are pacing for their fifth-straight weekly gains.

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

  • 3 fintech stocks to eye as 2024 wraps up.
  • Walgreens stock desperate for a post-earnings pop.
  • Plus, Tesla's taxi falls flat; blue-chip bank earnings; and Mobileye eyes record lows.

Futures Chart October 112024

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.6 million call contracts and 792,227 put contracts exchanged on Thursday. The single-session equity put/call ratio fell to 0.49 and the 21-day moving average stayed at 0.64.
  2. Tesla Inc (NASDAQ:TSLA) stock is 6% lower premarket, after the electric vehicle maker's big robotaxi reveal left a lot to be desired. An analyst at Barclays called the event 'light on details.' Year over year, TSLA is nearly 10% lower going into today.
  3. JPMorgan Chase & Co (NYSE:JPM) stock is marginally lower before the opening bell, even after the banking giant reported third-quarter earnings and revenue that beat Wall Street's estimates. Coming into today, JPM was up roughly 25%.
  4. Mobileye Global Inc (NASDAQ:MBLY) stock is down 3% before the open, after Mizuho downgraded the autonomous-driving tech company to "neutral" from "outperform." The analyst in coverage also slashed its price target to $13 from $30, citing growing competition and slowing sales. Mobileye stock is down 71.6% in 2024 and is set to open at record lows.
  5. Take a look at what to expect next week.

newbuzzoct11

Korea's Central Bank Trims Benchmark Interest Rate

Asian bourses were mostly lower to end the week, taking their cues from U.S. equities. China’s Shanghai Composite shed 2.6%, with all eyes on the Ministry of Finance’s press conference tomorrow, where new stimulus efforts will be revealed. South Korea’s Kospi finished 0.09% lower, even after the Bank of Korea (BoK) trimmed its benchmark interest rate by 25 basis points to 3.25%, its lowest level since the pandemic. Japan’s Nikkei added 0.6%, as bank and healthcare stocks popped, while Hong Kong’s Hang Seng was closed for holiday.

European stocks are flat across the board. London’s FTSE 100 is off by 0.07% at last check, with drug giant GSK in focus after securing a $2.2 billion resolution to the Zantac lawsuit over heartburn treatments. The French CAC 40 is up 0.05% at last check, while the German DAX is 0.2% higher, even as the latter forecasts the first recession in over 20 years.

 

Biden’s government just announced a new government "stimulus program"...

And it could hand you a payment for as much as $7,882 — each quarter.

See, it has to do with a recent 19-page memo from Biden’s office...

Directing the government to once again send a form of "stimulus payments" to the mailboxes of Americans during these difficult times.

Better still, you can collect these payouts every single quarter — for life...

Payments run as high as $7,882... And it only takes five minutes to sign up.

I call this the "Stimulus Stipends" program…

And Forbes recently declared that you can "retire rich" thanks to this program.

So if you want to start cashing in your quarterly payouts — courtesy of the U.S government...

Discover how to receive your FIRST "Stimulus Stipends" payment for up to $7,882 here. 
 (ad)
 

election 2024 report

                                                  AD                                                  
best AI trade you can make today…?
(it’s not MSFT, GOOGL, AMZN or AAPL)

                                                  AD                                                  

 
 

VOLATILITY SCORECARD

 


                                               AD                                                    
Crazy Opportunity!! Tiny AI Stock just $3
“This Type of AI Will Be Worth “Ten MSFTs.”

                                               AD                                                    

 
4 AI STOCKS TO BUY NOW
 

                                                  AD                                                  
best AI trade you can make today…?
(it’s not MSFT, GOOGL, AMZN or AAPL)

                                                  AD