Resumed trials from AstraZeneca are boosting morale on Wall Street, too
Stock futures are set to open higher on Tuesday, in an attempt to build off of yesterday's tech rebound. Futures on the Dow Jones Industrial Average (DJI) are looking to open with a 215-point jump this morning. Meanwhile, futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are pointed higher as well, with the likes of Apple (AAPL) and Microsoft (MSFT) leading pre-market gains. In other news, AstraZeneca (AZN) said it is resuming phase three coronavirus vaccine trials in the U.K., with present key data expected by the end of October.
Continue reading for more on today's market, including:
- What sent Micron stock surging higher.
- Schaeffer's V.P. of Research, Todd Salamone, indicates what could be next for stocks, based on investor sentiment.
- Plus, the largest semiconductor deal ever; Amazon's high-end shopping experience; Walmart's membership program is here.
5 Things You Need to Know Today
- The Cboe Options Exchange
(CBOE) saw over 1.5 million call contracts traded on Monday, and 740,552 put
contracts. The single-session equity put/call ratio dropped to 0.49 and the
21-day moving average stayed at 0.49.
- NVIDIA Corporation (NASDAQ: NVDA) is up 5.8% in pre-market trading, after the tech giant purchased Arm -- a semiconductor company that designs chips for nearly every smartphone sold today as well as several other devices -- for $40 billion. The acquisition could give Nvidia's data center business a boost and, if completed, will be the largest semiconductor deal of all time. The security is up 183% year-over-year.
- Amazon.com, Inc. (NASDAQ: AMZN) is up 1.2% before the bell, after the e-commerce company announced a new shopping platform called "luxury stores." The high-end shopping experience features Oscar de la Renta as its first store, and will be available on Tuesday on the Amazon app by invitation only. The equity is up 68.7% year-over-year.
- The shares of Walmart Inc (NYSE: WMT) are up 0.8% in electronic trading, as the major retailer officially launches Walmart+, which has been touted as Amazon.com Prime's competitor. The membership program features unlimited free deliveries on orders over $35 and discounts on gas, among other perks. Year-over-year, the security is up 16.9%.
- Today will bring the International Energy Agency (IEA) monthly oil market report, as well as export and import prices, manufacturing and industrial production data. The Fed's meeting will begin later today, too. The earnings docket will feature Adobe (ADBE), FedEx (FDX), and Hertz Global (HTZ).
Asian Markets Jump as Investors Cheer Upbeat Economic Data
Stocks in Asia were mostly higher today, as investors cheered China’s August economic data which revealed retail sales rose by 0.5% in August – the first positive report so far on the year. Additionally, the country saw industrial production grow 5.6% from a year ago. South Korea’s Kospi paced the region, tacking on 0.7%. Meanwhile, China’s Shanghai Composite and Hong Kong’s Hang Seng rose 0.5% and 0.4%, respectively. Lastly, Japan’s Nikkei bucked the broad market trend with a 0.4% fall.
European markets are rising this morning, as anticipation builds over central bank meetings from the U.S. Federal Reserve, Bank of Japan and Bank of England. The Fed’s two-day meeting kicks off today, but the central bank is not expected to change its monetary policy stance. London’s FTSE 100 has a commanding lead in the region, up 1.1%, while France’s CAC 40 is 0.5% higher. Lastly, the German DAX has managed a 0.4% rise so far.