Q2 STOCKS TO BUY

Dow Futures Signal Lower Open

Facebook stock is pacing for a sharp pullback at the open

Jan 30, 2020 at 9:13 AM
facebook X logo linkedin


Dow Jones Industrial Average (DJI) futures are trading below fair value this morning despite a mostly strong round of corporate earnings, with blue chips Microsoft (MSFT) and Coca-Cola (KO) headlining the winners with their pre-market gains. On the bearish side, traders are monitoring a sharp post-earnings pullback in Facebook (FB) shares, while fellow tech giant Amazon.com (AMZN) prepares for its post-close report.

Quarterly updates are only a small piece of the puzzle this morning, however, as the growing death count from the coronavirus is likely contributing to most of this morning's headwinds. There's also economic data to consider, namely an advanced reading of fourth-quarter gross domestic product (GDP) that showed the U.S. economy growing 2.1% in the period, matching expectations.

Continue reading for more on today's market, including: 

US stock futures jan 30

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw 1.61 million call contracts traded on Wednesday compared to 799,003 million put contracts. The single-session equity put/call ratio dipped to 0.50, and the 21-day moving average was 0.53.
  2. The shares of Tesla Inc (NASDAQ:TSLA) are set to extend the rally they've enjoyed in recent months, posting a pre-market gain of 10% following the electric automaker's quarterly results. The company posted an earnings beat on record deliveries, while delivering a strong guidance, as well. TSLA had already doubled in value over the past six months, and is now set up for more record highs.
  3. Carnival Corp (NYSE:CCL) is in focus on headlines that some passengers aboard one of its cruise ships are being tested for coronavirus. The company is expected to provide updates on the situation soon, but CCL stock -- which has already been struggling -- is down another 6% before the open.
  4. Bloomberg is reporting that Nike Inc (NYSE:NKE) is being probed by the Securities and Exchange Commission (SEC) about whether it made illicit payments to youth basketball players. NKE shares have been testing their 50-day moving average, which served as strong support back in October and November.
  5. Visa (V), Altria (MO), Amazon, Biogen (BIIB), Eli Lilly (LLY), Sprint (S), UPS (UPS), and U.S. Steel (X) will all throw their hats into the earnings ring

Buzz Chart Jan 30

Overseas Shares Hit Hard Again

There was a lot more selling in Asian equities overnight due to coronavirus headwinds. China's Shanghai Composite had the worst day, down 2.8%, while Hong Kong's Hang Seng slipped 2.6%. In Japan, both the Nikkei and South Korea's Kospi fell 1.7%. Meanwhile, the losses have spread to Europe, where the FTSE 100 was last seen down 1.5%. France's CAC 40 was down even more, shedding 1.6% so far, and Germany's DAX is down 1.3%.

 
 

“Buy This Stock Now!” - Expert Who Called 11x On TSLA

He called a rare 11x on Tesla…

But now, thanks to Elon & Trump’s new alliance…

He says there’s a new opportunity that could be 1,000x BIGGER than Tesla – and it could completely revolutionize a $23 Trillion market.

It’s trading for less than $5 per share right now…

But it won’t be under the radar for long.

Discover The 1,000x Bigger Elon Opportunity Here

GRAND SLAM COUNTDOWN

 
 

Featured Articles from Trusted Partners:

👀Learn How Dividends Create Passive Income for Life
Receive $200 Off Motley Fool Epic. The Motley Fool Epic $299 discounted offer is based on $499/year list price. Introductory promotion for new members only. Take control of your money and your portfolio with Motley Fool Epic.

💵New Income System Could Pay You $4,243 Monthly
You could collect an average of $4,243 per month starting as early as next week with a new payout system for income investors. New registrations are being accepted for investors who want to be in a position to start with their first payout next week.

🚀Easy 92% Crypto Dividends (No Coins Required)
COIN stock doesn't pay a dividend... But there's actually a new way to collect a massive dividend that's indirectly based on the stock and offers a terrific monthly income (currently yielding nearly 92% on a forward basis).

🤝Free Advisor Match with Wiseradvisor.com
Don't leave your retirement to chance! Get matched with a trusted financial expert for FREE and make the most of your tax refund. Get started now.

⚠️Dennis Quaid's #1 Warning for Americans
Here's the thing: life doesn't come with guarantees. The economy shifts, markets stumble, and years of hard work could slip through your fingers like sand. But it doesn't have to be that way for you. So request a free copy of this Gold & Silver Guide that will arrive right to your doorstep when you act now.

 

 
 

Follow us on X, Follow us on Twitter