Weekly wins appear to be out of reach, barring a dramatic rally today
Stock futures are indicating another choppy open to end the week. Dow Jones Industrial Average (DJIA) futures were last seen off by triple-digits this morning, while futures on the Nasdaq-100 Index (NDX) and S&P 500 Index (SPX) are flat and higher, respectively. A Justice Department investigation into UnitedHealth (UNH) is weighing on blue chips, and weekly wins could be out of range for all three major indexes, should markets continue their unsteady price action.
Continue reading for more on today's market, including:
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 2.5 million call contracts and 1.5 million put contracts exchanged on Thursday. The single-session equity put/call ratio fell to 0.59 and the 21-day moving average stayed at 0.60.
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Celsius Holdings Inc (NASDAQ:CELH) stock is up 35% in premarket trading, after the
energy drink giant reported a top-line beat for the fourth quarter. The company also announced the acquisition of Alani Nutrition in a cash and stock deal. CELH is down 58.3% year-over-year heading into today.
- Coinbase Global Inc (NASDAQ:COIN) stock is 4.6% higher before the bell, after the Securities and Exchange Commission (SEC) dropped its enforcement action against the cryptocurrency platform. COIN has taken a 26.6% haircut off its Dec. 6 record high of $349.75, but is 58% higher year-over-year.
- The shares of Booking Holdings Inc (NASDAQ:BKNG) are 2.8% higher ahead of the open, after the travel platform reported fourth-quarter earnings and revenue that exceeded expectations. No fewer than seven price-target hikes have ensued, the highest coming from Deutsche Bank to $6,394 to $5,964. BKNG is poised to build on its 34.1% year-over-year lead.
- The personal consumption expenditures (PCE) price index is due out next week.
Asian Markets Shake Off Tariff Threats
Asian markets finished higher across the board today. Hong Kong’s Hang Seng hit three-year highs and closed 4% higher with the help of Alibaba (BABA) and other tech stocks, while China’s Shanghai Composite rose 0.9%, Japan’s Nikkei added 0.3%, and the South Korean Kospi tacked on 0.02%. Concerns over Trump-era tariffs remained in focus, as well as inflation data out of Japan, which rose 4% in January to its highest level since January 2023, while core inflation rose 3.2%.
European bourses are also trading higher. London’s FTSE 100 is up 0.1% at last glance, while the French CAC 40 and German DAX rise 0.4% and 0.2%, respectively. U.K. retail sales rose 1.7% month-on-month in January, boosted by food sales, which smashed analyst expectations of a 0.3% rise.