The Dow and Nasdaq are indicating another triple-digit drop
Stock futures are pointed lower to end the week, with Dow Jones Industrial Average (DJI) and Nasdaq-100 Index (NDX) futures indicating another triple-digit move lower on quadruple witching Friday. Wall Street has proven incapable of getting past surging oil prices brought on by geopolitical tensions in the Middle East. Brent crude -- which cooled after yesterday's remarks from Israel -- has resumed its climb, despite reports that the U.S. may lift sanctions on Iranian crude.
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- Plus, SMCI busted; Planet Labs stock heads to the stars; and Chipotle stock upgraded.
5 Things You Need to Know Today
- The Cboe Options Exchange saw roughly 2.4 million call contracts and 1.4 million put contracts traded on Thursday. The single-session equity put/call ratio fell to 0.58, while the 21-day moving average rose at 0.60.
- Super Micro Computer Inc (NASDAQ:SMCI) stock is 24.7% lower before the bell, after the U.S. charged three of its employees with smuggling Nvidia (NVDA) chips to China. The semiconductor stock is poised to open at its lowest level in a year, and pad its 23% year-over-year deficit.
- Planet Labs PBC (NYSE:PL) stock is up 20.5% ahead of the open, after the satellite company announced a fourth-quarter win to go with a better-than-expected current-quarter and full-year revenue outlook. Wedbush hiked its price target to $40 from $30 in response. PL is set to open at a record high, and is 524% higher in the last 12 months.
- Shares of Chipotle Mexican Grill (NYSE:CMG) are 1.5% higher in electronic trading, after Mizuho upgraded the fast casual restaurant to "outperform" from "neutral." The analyst also hiked its price target to $40 from $37, with "comp inflection" a catalyst for the bull note. Chipotle stock is down 11% in 2026.
- There are still some earnings reports to keep an eye on next week.
European Bourses Bet on Rate Hikes Next Year
Asian markets settled mostly lower on Friday, as investors monitored the recent attacks to energy facilities in the Middle East. Also in focus was China’s central bank’s decision to keep benchmark lending rates unchanged for a 10th-straight month. South Korea’s Kospi was the only gainer, tacking on 0.3%, while Hong Kong’s Hang Seng and China’s Shanghai Composite shed 0.9% and 1.2%, respectively. Japan’s Nikkei paced the laggards, dropping 3.4%.
European stocks are higher midday, despite traders betting on the European Central Bank (ECB) and Bank of England (BoE) to hike rates later this year, after both kept them steady yesterday. At last glance, London’s FTSE 100 is 0.6% higher, France’s CAC 40 is up 0.2%, and Germany’s DAX has added 0.1%.