The Job Openings and Labor Turnover Survey (JOLTS) is due out later today
Dow Jones Industrial Average (DJIA) futures are sluggish, but pointed slightly higher this morning. The S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are also flat, after the indexes touched record highs yesterday. Earnings season continues to chug along, while markets await the Labor Department's latest Job Openings and Labor Turnover Survey (JOLTS), due out at 10:00 a.m. ET. President Trump's tour of Asia will also be in focus, with the commander-in-chief visiting South Korea today.
Elsewhere, departing Fed Chair Janet Yellen will speak later today. It'll be the first time we hear from Yellen since Trump nominated Fed Governor Jerome Powell as her successor. In addition, Fed Vice Chair for Supervision Randal Quarles will also speak.
Continue reading for more on today's market, including:
- The small-cap options spread we like this week, courtesy of Schaeffer's Senior V.P. of Research Todd Salamone.
- Breaking down Snapchat's ugly earnings history.
- Analyst: This drug stock could quintuple.
- Plus, Red Robin reports earnings; and two travel stocks headed lower.
5 Things You Need to Know Today
- The Chicago Board Options Exchange (CBOE) saw 1.1 million call contracts traded on Monday, compared to 685,571 put contracts. The single-session equity put/call ratio rose to 0.61, and the 21-day moving average fell to 0.64.
- Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) stock is pointed 20% lower in pre-market trading, after the company reported earnings and sales below expectations. In addition, the restaurateur issued lackluster current-quarter guidance, and said average spending per guest dropped in the latest quarter. RRGB stock could give up its year-to-date lead, and test its August lows.
- Priceline Group Inc (NASDAQ:PCLN) stock is pacing for an 8.2% drop out of the gate, after the company's current-quarter guidance fell short of estimates. A handful of analysts cut their price targets on PCLN stock, including a drop to $1,775 from $1,850 at MoffettNathanson. PCLN closed Monday at $1,903.
- Fellow travel stock TripAdvisor Inc (NASDAQ:TRIP) is pointed 11.5% lower, after the firm reported lackluster quarterly sales. TRIP shares are now in danger of touching a five-year low, after closing at $39.53 yesterday.
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Crocs (CROX), Dean Foods (DF), Dish Network (DISH), Fossil Group (FOSL), Hain Celestial (HAIN), Halozyme Therapeutics (HALO), LendingClub (LC), Myriad Genetics (MYGN), Norwegian Cruise Line (NCLH), Royal Caribbean Cruises (RCL), SeaWorld (SEAS), Take-Two Interactive (TTWO), Valeant Pharmaceuticals (VRX), and Zillow Group (ZG) will report earnings.
The ongoing rise in oil prices led to another upbeat session for Asian stocks. Most notably, Japan’s Nikkei rallied 1.7% for its highest close in 26 years, with the energy sector leading the charge. This group also outperformed in China, where the Shanghai Composite ended up 0.8%, while Hong Kong’s Hang Seng jumped 1.4%. South Korea’s Kospi was a negative outlier, however, dipping 0.2%.
The oil rally has failed to boost European equities, though. Lackluster retail sales data out of the U.K. seems to be overshadowing strong housing data, with October home prices rising at the fasting pace since January in October. At last check, the FTSE 100 was down 0.3%. Meanwhile, the French CAC 40 has dipped 0.1% and Germany’s DAX is down 0.04%.