Good Friday morning traders and investors of the r/stocks sub! Welcome to the final trading day of the week. Here are your pre-market movers & news on this Friday, September the 20th, 2024-
Dow futures are little changed after index closes above 42,000 for the first time: Live updates
Dow Jones Industrial Average futures flickered near the flatline Friday after the 30-stock benchmark closed at a record, bolstered by enthusiasm over the Federal Reserve’s interest rate cut.
Dow futures slipped just 21 points, or 0.05%. Futures tied to the S&P 500 dipped 0.3%, while Nasdaq 100 futures slipped 0.5%.
Stocks surged during Thursday’s regular session, with the S&P 500 rising 1.7% to close over the 5,700 level for the first time. The blue-chip Dow ended the day more than 500 points higher to post its first-ever close above 42,000. Both indexes also registered all-time highs during the day. The Nasdaq Composite advanced 2.5%.
Unemployment data, along with the Fed’s half-point rate cut on Wednesday, seemed to bolster investors’ sentiment. Initial jobless claims, which came in at 219,000 for the week of Sept. 14, were lower than expected and showed a decline from the prior week.
“The first economic data point since the ‘jumbo’ rate cut should please the Fed,” said Chris Larkin, managing director of trading and investing for E-Trade from Morgan Stanley. “Lower-than-expected jobless claims won’t raise any immediate concerns about the labor market slowing too much.”
The Fed’s Wednesday decision marked the first rate cut since 2020.
The three major averages are on pace for weekly gains, with the S&P 500 up nearly 1.6% through Thursday’s close. The Dow is toting a 1.5% jump on the week, while the Nasdaq is outperforming with a 1.9% advance.
In corporate news, shipping behemoth FedEx pulled back 11% in extended trading after the company slashed the top end of its full-year earnings outlook and trimmed its revenue guidance. Nike surged more than 7% after announcing that CEO John Donahoe will step down from his post on Oct. 13.
STOCK FUTURES CURRENTLY:
(CLICK HERE FOR STOCK FUTURES CHARTS!)
YESTERDAY'S MARKET MAP:
(CLICK HERE FOR YESTERDAY'S MARKET MAP!)
TODAY'S MARKET MAP:
(CLICK HERE FOR TODAY'S MARKET MAP!)
YESTERDAY'S S&P SECTORS:
(CLICK HERE FOR YESTERDAY'S S&P SECTORS CHART!)
TODAY'S S&P SECTORS:
(CLICK HERE FOR TODAY'S S&P SECTORS CHART!)
TODAY'S ECONOMIC CALENDAR:
(CLICK HERE FOR TODAY'S ECONOMIC CALENDAR!)
THIS MONTH'S ECONOMIC CALENDAR:
(CLICK HERE FOR THIS MONTH'S ECONOMIC CALENDAR!)
NEXT WEEK'S UPCOMING IPO'S:
(CLICK HERE FOR NEXT WEEK'S UPCOMING IPO'S!)
NEXT WEEK'S EARNINGS CALENDAR:
([CLICK HERE FOR NEXT WEEK'S EARNINGS CALENDAR!]())
(T.B.A. THIS WEEKEND.)
THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:
(CLICK HERE FOR THIS MORNING'S EARNINGS CALENDAR!)
EARNINGS RELEASES BEFORE THE OPEN TODAY:
(CLICK HERE FOR THIS MORNING'S EARNINGS RELEASES!)
THIS AFTERNOON'S AFTER-HOURS EARNINGS CALENDAR:
(CLICK HERE FOR THIS AFTERNOON'S EARNINGS CALENDAR!)
EARNINGS RELEASES AFTER THE CLOSE TODAY:
([CLICK HERE FOR THIS AFTERNOON'S EARNINGS RELEASES!]())
(NONE.)
YESTERDAY'S ANALYST UPGRADES/DOWNGRADES:
(CLICK HERE FOR YESTERDAY'S ANALYST UPGRADES/DOWNGRADES LINK #1!)
(CLICK HERE FOR YESTERDAY'S ANALYST UPGRADES/DOWNGRADES LINK #2!)
YESTERDAY'S INSIDER TRADING FILINGS:
(CLICK HERE FOR YESTERDAY'S INSIDER TRADING FILINGS!)
TODAY'S DIVIDEND CALENDAR:
(CLICK HERE FOR TODAY'S DIVIDEND CALENDAR LINK #1!)
(CLICK HERE FOR TODAY'S DIVIDEND CALENDAR LINK #2!)
(CLICK HERE FOR TODAY'S DIVIDEND CALENDAR LINK #3!)
THIS MORNING'S MOST ACTIVE TRENDING TICKERS ON STOCKTWITS:
-
ZVRA
Zevra Therapeutics Inc -
FDX
Fedex Corp -
GSIW
Garden Stage Limited -
NKE
Nike Inc -
APLS
Apellis Pharmaceuticals Inc -
PLTR
Palantir Technologies Inc -
DJT
Trump Media & Technology Group Corp. -
CEG
Constellation Energy Corporation -
APLD
Applied Blockchain Inc
THIS MORNING'S STOCK NEWS MOVERS:
(source: cnbc.com)
Nike — Shares rose 6% after the athletic apparel company announced CEO John Donahue would be retiring from the position. Company veteran Elliott Hill will be coming out of retirement to take the position.
STOCK SYMBOL: NKE
(CLICK HERE FOR LIVE STOCK QUOTE!)
FedEx — Shares of the shipping giant shed more than 13% after posting a significant decline in profits and cutting its full-year guidance.
STOCK SYMBOL: FDX
(CLICK HERE FOR LIVE STOCK QUOTE!)
Lennar — The homebuilding stock slipped 3% despite beating analysts’ expectations for its fiscal third quarter. The company reported earnings of $4.26 on revenue of $9.42 billion, while analysts polled by LSEG had expected earnings of $3.63 on revenue of $9.17 billion.
STOCK SYMBOL: LEN
(CLICK HERE FOR LIVE STOCK QUOTE!)
Trump Media & Technology Group — Shares traded nearly 5% lower as selling restrictions on former President Donald Trump and other early investors ended.
STOCK SYMBOL: DJT
(CLICK HERE FOR LIVE STOCK QUOTE!)
MillerKnoll — The office furniture stock lost more than 5% after reporting a fiscal first-quarter earnings and revenue miss. The company also issued weak guidance for its current quarter.
STOCK SYMBOL: MLKN
(CLICK HERE FOR LIVE STOCK QUOTE!)
Automobile stocks — Auto stocks were broadly trading lower after Mercedes trimmed its annual forecasts on the back of deteriorating economic conditions, specifically in China. Ford and Tesla each slipped less than 1%, while shares of General Motors lost more than 1%.
PepsiCo — The snacks and beverage stock slipped 1% following a downgrade at Morgan Stanley to equal weight from overweight. The bank cited Pepsi’s lingering organic sales growth and earnings-per-share risks, as well as market share losses, for the call.
STOCK SYMBOL: PEP
(CLICK HERE FOR LIVE STOCK QUOTE!)
ASML — Shares slipped 2% after Morgan Stanley downgraded the semiconductor manufacturer to equal weight from overweight. Analyst Lee Simpson cited that risks of a slowdown in expectations could be materializing for the company.
STOCK SYMBOL: ASML
(CLICK HERE FOR LIVE STOCK QUOTE!)
Contessa Pharmaceuticals — The biotech stock was trading more than 5% higher following an upgrade from Morgan Stanley to overweight from equal weight. The bank said it saw potential for Contessa’s orexin 2 to become a best-in-class treatment for narcolepsy.
STOCK SYMBOL: CNTA
(CLICK HERE FOR LIVE STOCK QUOTE!)
Aptiv — Shares of the automobile technology supplier rose more than 1% after an upgrade to overweight from equal weight at Wells Fargo. The investment firm said Aptiv’s stock looks more attractive after a recent slump erased much of its premium valuation.
STOCK SYMBOL: APTV
(CLICK HERE FOR LIVE STOCK QUOTE!)
Valero Energy — Shares fell 1.2% after Piper Sandler downgraded Valero Energy to neutral from overweight, saying it sees “less room for outperformance” for the refinery even as it remains “best in class.”
STOCK SYMBOL: VLO
(CLICK HERE FOR LIVE STOCK QUOTE!)
Chewy — The pet products retailer lost nearly 3% after announcing a public offering of $500 million of its Class A stock. Chewy also said it would buy $300 million in shares from Buddy Chester, an entity affiliated with the company’s largest shareholder; Chewy plans to cancel and retire those repurchased shares following the transaction.
STOCK SYMBOL: CHWY
(CLICK HERE FOR LIVE STOCK QUOTE!)
FULL DISCLOSURE:
/u/bigbear0083 has no positions in any stocks mentioned. Reddit, moderators, and the author do not advise making investment decisions based on discussion in these posts. Analysis is not subject to validation and users take action at their own risk.
DISCUSS!
What's on everyone's radar for today's trading day ahead here at r/stocks?
Leave a Reply