The Nasdaq could log its fifth-straight loss today
Stock futures are muted today, following a session that saw the Dow Jones Industrial Average (DJI) log a record close. At last check, the blue-chip index was up 40 points, as more corporate earnings continue to pour in. Meanwhile, S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are hovering near breakeven, with the latter looking to add to its four-straight negative trading days. Elsewhere, U.S. weekly jobless claims came in at 498,000 versus estimates of 527,000, indicating a sunny picture concerning employment prospects as the country continues to recover from the pandemic.
Continue reading for more on today's market, including:
- Grocery stock that should be on every bulls' radar.
- With earnings coming up, is Johnson Outdoors stock a buy?
- Plus, UBER notches bear notes after earnings; 1 drug stock that's plummeting; and Anheuser-Busch announces a C-suite shakeup.
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 1.4 million call contracts traded on Tuesday, and 657,240 put contracts. The single-session equity put/call ratio fell to 0.46 and the 21-day moving average stayed at 0.47.
- The shares of Uber Technologies Inc (NYSE:UBER) are down 3.5% ahead of the open and being bombarded with bear notes, after the ride-sharing staple reported better-than-expected first-quarter losses, with revenue that was well below analysts' estimates. Separately, Uber said it would driver pay to put more cars on the road, as the economy begins to reopen. Year-over-year, UBER is up 82.3%.
- Moderna Inc (NASDAQ:MRNA) is plunging, down 6.4% before the bell, following the drugmaker's upbeat trip to the earnings confessional. The company turned in earnings for the first quarter that were better than Wall Street's forecasts, though revenue fell short of expectations. In addition, Moderna raised its Covid-19's 2021 sales forecasts to $19.2 billion. Year-to-date, MRNA has added 55.9%.
- Shares Anheuser Busch Inbev SA (NYSE:BUD) are set to open at a 14-month high near $74.34, after CEO Carlos Brito announced he is stepping down from his position in July, after 15 years leading the company. North America division chief Michel Doukeris will succeed Brito. In addition, Anheuser-Busch announced an upbeat first-quarter, with a substantial rise in revenue from a year ago, a timespan in which BUD has tacked on 70.2%.
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A fresh round of initial and continuing jobless claims is due out today. Additionally, data on productivity and unit labor costs is scheduled for release as well.
Asian Stocks Mixed After Extended Break
Asian markets were mixed on Thursday, as multiple benchmarks returned from holidays and investors awaited the U.S. jobs report. Japan’s Nikkei led the charge with an 1.8% gain, while South Korea’s Kospi added 1%. Elsewhere, Hong Kong’s Hang Seng rose 0.8%, and China’s Shanghai Composite fell 0.2%.
European markets are mostly lower, with the Bank of England (BoE) expected to maintain its lending rate and quantitative easing program unchanged. However, a final U.K. composite purchasing managers’ index (PMI) showed better-than-expected business activity in April, while euro zone retail sales came in above estimates as well. Investors are also eyeing the Scottish Parliament election, and corporate reports from Volkswagen and Air-France KLM. In response, London’s FTSE 100 is slightly above breakeven with a 0.09% gain, France’s CAC 40 is down 0.1%, and the German DAX was last seen down 0.2%.