Stocks are mixed ahead of the open
Fresh off sharp weekly losses, the market is struggling for direction before the bell this morning. Futures on the Dow Jones Industrial Average (DJI) are down 50 points, while S&P 500 Index (SPX) futures sit flat. Nasdaq-100 Index (NDX) futures are sporting a solid lead, however, as Tesla (TSLA) shares jump following a Bloomberg report that President-elect Donald Trump wants to relax self-driving regulations.
Continue reading for more on today's market, including:
- Quick recap of last week's inflation data.
- Aerospace stock with ample support in place.
- Plus, SMCI jumps before delisting deadline; GME announces new board member; and ROKU rises on upgrade.
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw over 2.7 million call contracts and more than 1.6 million put contracts exchanged on Friday. The single-session equity put/call ratio fell to 0.60 and the 21-day moving average remained at 0.62.
- Super Micro Computer Inc (NASDAQ:SMCI) is up 11.3% premarket, amid news that the embattled stock plans to avoid delisting ahead of today's deadline. Fresh off a 52-week closing low on Thursday, SMCI is down 34.6% year to date.
- GameStop Corp (NYSE:GME) is up 0.2% ahead of the open, after reports that Collector Holdings CEO Nat Turner has joined the video game retailer's board. Collector and GME announced a collaboration last month. Since the start of the year, the equity is up 51.7%.
- The shares of Roku Inc (NASDAQ:ROKU) are up 3% before the bell, after an upgrade from Baird to "outperform" from "neutral." Year to date, ROKU is down 24.9%.
- Manufacturing and services data on tap this week.
Economic Data Ahead Overseas
Asian markets were all over the place to kick off the week, ahead of a loaded slate of economic data. The Nikkei gave back 1.1%, with Japan’s trade data and inflation metric on tap later this week. South Korea’s Kospi tacked on 2.2%, with tech titan Samsung Electronics leading the way. Hong Kong’s Hang Seng added 0.8%, while the Shanghai Composite lost 0.2%, as investors look ahead to China’s loan prime rate on Wednesday.
European bourses are in the red midday, with euro zone inflation data slated for later this week. At last check, London’s FTSE 100 is 0.05% lower, the French CAC 40 is off by 0.4%, and the German DAX is down 0.4%.