Good morning traders and investors of the r/stocks sub! Welcome to Thursday! Here are your pre-market stock movers & news on this Thursday, February the 16th, 2023-
Dow futures slide 150 points after another hot inflation report: Live updates
Stock futures fell Thursday as traders digest another hot inflation report along with jobless claims showing the economy is holding up amid the Federal Reserve’s rate hikes.
Futures linked to the Dow Jones Industrial Average shed 172 points, or 0.49%. S&P 500 futures dipped 0.71% and Nasdaq-100 futures fell 0.85%. Earnings beats sent some shares higher – Roku surged 12% in premarket trading, Cisco added more than 3% and Hasbro ticked 1% higher.
Stocks closed slightly higher Wednesday even after a stronger-than-expected January retail sales report suggested the Federal Reserve may have further to go in its efforts to tame inflation. The Dow Jones Industrial Average rose 38.78 points, or 0.11%, and the S&P 500 climbed 0.28%. Meanwhile, the Nasdaq Composite notched its third straight day of gains, rising 0.92%.
For some market observers, that suggested stocks could have more room to run from here — even after their strong start to the year.
“It looks like this rally does have some legs, and you can’t fight some of the tape right now,” Victoria Greene, chief investment officer at G Squared Private Wealth, said Wednesday on CNBC’s “Closing Bell: Overtime.”
“The Fed is saying that they’re going to be hawkish, but the technicals are saying this rally is in, and I really don’t think we’re going to retest those October lows anymore, because we’ve hit some really important technical supports,” Greene said.
Wall Street is expecting further economic insight from a slew of reports Thursday. For starters, another inflation gauge will be out in the morning, the January producer price index. Dow Jones estimates are calling for a rise of 0.4%, compared to December’s decline of 0.5%.
Weekly jobless claims data, as well as January’s housing starts report, are also due Thursday.
STOCK FUTURES CURRENTLY:
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YESTERDAY'S MARKET MAP:
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TODAY'S MARKET MAP:
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YESTERDAY'S S&P SECTORS:
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TODAY'S S&P SECTORS:
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TODAY'S ECONOMIC CALENDAR:
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THIS WEEK'S ECONOMIC CALENDAR:
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THIS WEEK'S UPCOMING IPO'S:
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THIS WEEK'S EARNINGS CALENDAR:
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THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:
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EARNINGS RELEASES BEFORE THE OPEN TODAY:
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EARNINGS RELEASES AFTER THE CLOSE TODAY:
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YESTERDAY'S ANALYST UPGRADES/DOWNGRADES:
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YESTERDAY'S INSIDER TRADING FILINGS:
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TODAY'S DIVIDEND CALENDAR:
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THIS MORNING'S STOCK NEWS MOVERS:
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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?
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