Dow futures are sharply lower once again
Stocks are a mixed bag this morning after yesterday's losses. Nasdaq-100 Index (NDX) futures are pointed higher, looking to brush off Nvidia's (NVDA) woes and Oracle's (ORCL) dismal report. Dow Jones Industrial Average (DJIA) futures are down nearly triple digits, while S&P 500 Index (SPX) futures are hovering near breakeven.
Investors are unpacking the NFIB Small Business Optimism Index that hit its highest level since 2021 last month, while also prepping for the consumer price index (CP) reading for November due out tomorrow.
Continue reading for more on today's market, including:
- Why the S&P 500 could rally into 2025, per Senior V.P. of Research Todd Salamone.
- 2 fintech stocks getting analyst attention.
- Plus, three tech stocks sliding after earnings.
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw over 2.6 million call contracts and more than 1.4 million put contracts exchanged Monday. The single-session equity put/call ratio rose to 0.56 and the 21-day moving average remained at 0.62.
- Oracle Corp (NYSE:ORCL) stock is down 6.5% in premarket trading, after the tech giant reported disappointing earnings and revenue for the fiscal second quarter, while also issuing a lackluster outlook for the current quarter. ORCL boasts an 80.6% lead for 2024.
- Artificial intelligence (AI) concern C3.ai Inc (NYSE: AI) announced smaller-than-expected losses for the fiscal second quarter, and surpassed revenue expectations. The company also raised its annual revenue outlook, but the shares are down 6.9% before the bell, looking to trim their 45.2% year-to-date lead.
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MongoDB Inc (NASDAQ:MDB) stock is down 8% ahead of the open, brushing off a top- and bottom-line win for the third quarter and raised revenue guidance for 2025. Weighing on MDB is news that CEO and CFO Michael Gordon
will step down in January. MDB is down 14.4% this year.
- There's a host of inflation data and earnings ahead.
European Markets Respond to Economic Data
Upbeat sentiment boosted Asian markets Tuesday, thanks to a change in fiscal measures and “moderately” looser monetary policies in 2025 out of Beijing. Meanwhile, budget updates from South Korea sent the region’s Kospi up 2.4%, marking its best day in nearly three months. China’s Shanghai Composite tacked on 0.6%, Japan’s Nikkei rose 0.5%, and Hong Kong’s Hang Seng was the only loser, shedding 0.5%.
European stocks are mostly lower today, pulling back from Monday’s highs, and taking in several bouts of economic data. Germany finalized its inflation number for November, citing a 2.4% year-over-year growth, while data from Indeed showed a slowdown in hiring within the U.K. At last glance, France’s CAC 40 is off 0.6%, Germany’s DAX is up 0.2%, and London’s FTSE 100 is down 0.5%.