All three major benchmarks are eyeing weekly losses
Stock futures are inching higher as investors unpack this morning's inflation data. The consumer price index (CPI) for January rose 2.4% on an annual basis, below Dow Jones economists' estimates of 2.5%, while core CPI of 2.5% came in line with estimates. Plenty of stocks are making outsized post-earnings moves in premarket trading, as yesterday's broader AI concerns seem to ease. At this point, all three major benchmarks are headed for a weekly loss.
- Palo Alto Networks in focus ahead of earnings.
- In case you missed it: 18 stocks ripe for a short squeeze.
- Plus, two stocks plummeting after earnings; ROKU soars after a strong Q4.
5 Things You Need to Know Today
- The Cboe Options Exchange saw over 2.2 million call contracts and more than 1.5 million put contracts traded on Thursday. The single-session equity put/call ratio came in at 0.67, while the 21-day moving average remained at 0.59.
- DraftKings Inc (NASDAQ:DKNG) is down 11.9% premarket, despite better-than-expected fourth-quarter results, after a disappointing full-year revenue forecast. Looking to open at two-year lows, the sports betting giant is down 27% year to date heading into today.
- Pinterest Inc (NYSE:PINS) is off 21.8% before the bell, after the social media name's disappointing fourth-quarter results and weak current-quarter sales guidance. Should these losses hold, PINS will hit its lowest level since March 2020. Since the start of 2026, the equity is down 28.4%.
- Roku Inc (NASDAQ:ROKU) is up 16% in electronic trading, after the streaming company's strong fourth-quarter results and annual revenue forecast. Rosenblatt Securities upgraded the stock to "buy" from "neutral," with a price-target hike to $118 from $106, while a flood of other analysts lifted their price targets as well. Looking to break into positive territory year over year, ROKU is also set to erase most of its 2026 deficit.
- A holiday-shortened week will bring the Federal Reserve's meeting minutes.
AI Concerns Bleed Into Global Markets
Asian markets settled lower on Wednesday, mirroring stateside losses triggered by AI disruption fears. Hong Kong’s Hang Seng paced the laggards with a 1.7% drop, as basic material stocks weighed, while China’s Shanghai Composite shed 1.3%. Japan’s Nikkei gave back 1.2% after briefly eclipsing 58,000, and South Korea’s Kospi snapped its four-day win streak with a 0.3% loss amid energy sector weakness.
AI fears are also pressuring European markets, which are either flat or below breakeven as investors unpack the latest batch of earnings reports. London’s FTSE 100 was last seen rangebound despite upbeat results from lender NatWest Group, as commercial property development giant Land Securities struggles. France’s CAC 40 is 0.4% lower as cosmetics stock L’Oreal gaps lower, and the German DAX is marginally higher after food delivery stock Delivery Hero fell in response to its report.