Several Federal Reserve officials will give remarks
Stock futures are mixed this morning as Treasury yields edge higher, with Wall Street struggling to build on yesterday's broader rebound. Futures on the Dow Jones Industrial Average (DJI) are down triple digits, while S&P 500 Index (SPX) futures hover near breakeven, and Nasdaq-100 Index (NDX) futures inch higher.
Investors are awaiting remarks from several Federal Reserve officials for more insight into the central bank's path forward after Wednesday's rate hike. Meanwhile, Warren Buffett announced he is stepping down as Berkshire Hathaway's (BRK.B) chairman, with his son Howard set to take over.
Continue reading for more on today's market, including:
- ServiceNow stock is flashing a strong bearish signal.
- Why Meta Platforms stock could move back toward record highs.
- Plus, XENE plummets, NFLX downgraded, and STLD slips on earnings miss.
5 Things You Need to Know Today
- The Cboe Option Exchange saw roughly 2.7 million call contracts and 1.4 million put contracts traded on Thursday. The single-session equity put/call ratio fell to 0.52, while the 21-day moving average remained at 0.59.
- Xenon Pharmaceuticals Inc (NASDAQ:XENE) is down 22.4% before the bell, after the company temporarily paused enrollment for new patients in its clinical studies for treatments for major and bipolar depression. A slew of analysts have chimed in, including a downgrade at Deutsche Bank from "buy" to "hold." Year to date, the equity is up 28% heading into today's session.
- Netflix Inc (NASDAQ:NFLX) is off 3.4% premarket, after a downgrade from Wells Fargo to "underweight" from "equal weight," with a price-target cut to $57 from $80. The firm cited weak viewership and "tougher choices ahead" for the streamer. Since the start of 2026, NFLX has shed 19.7%
- Steel Dynamics Inc (NASDAQ:STLD) is down 2.1% in electronic trading, after reporting lower-than-expected second-quarter results and a weak third-quarter outlook. STLD is up 44.8% year to date.
- A handful of economic data is due out next week, including PMI readings.
Investors Digest BoJ Rate Hike, Economic Data
Markets in Asia moved higher today, as investors await the People’s Bank of China’s September loan rate decision, where the benchmark rate is expected to stay the same for the 16th-straight month. Elsewhere, China’s crude export reading for August rose 12.7% year-over-year -- exceeding pre-Iran war numbers. Meanwhile, the Bank of Japan (BoJ) hiked interest rates by 25 basis points as expected, to 1.25%, a 31-year high. The country also released August inflation data, which remained at 1.9%. In response, Japan’s Nikkei jumped 1.4%, South Korea’s Kospi surged 2.7%, Hong Kong’s Hang Seng added 0.6%, and China’s Shanghai Composite tacked on 0.9%.
European stocks, however, are moving lower to close out the week, while European Central Bank (ECB) Chief Christine Lagarde confirmed she will be stepping down from her post in 2027. London’s FTSE 100 is down 1.2% and both Germany’s DAX and France’s CAC 40 sport a 1.2% deficit, at last check.