Chinese officials said Covid cases in mainland China are slowing down
Stock futures are mixed this morning, after yesterday's selloff. Futures on the Nasdaq-100 Index (NDX) are pointed higher, while S&P 500 Index (SPX) futures are flat, and Dow Jones Industrial Average (DJI) futures are looking to open firmly below breakeven. The Chinese government earlier reported Covid cases in mainland China are slowing down, after protests broke out against its strict zero-Covid policy. Also in focus is the S&P Case-Shiller U.S. home price index and personal consumption data.
Continue reading for more on today's market, including:
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 1.2 million call contracts and 929,604 put contracts traded on Monday. The single-session equity put/call ratio rose to 0.76, while the 21-day moving average stayed at 0.71.
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KeyBanc downgraded
Roku Inc (NASDAQ:ROKU) to
“sector weight” from “overweight," with the analyst in question noting the streaming giant's business has failed to meet its bullish expectations. ROKU is down 3.7% before the open, and has shed 76.4% in 2022.
- China-based social platform Bilibili Inc (NASDAQ:BILI) announced a third-quarter top- and bottom-line win, as well as a 25% year-over-year jump in daily and monthly active users. BILI is up 9.9% in premarket trading, but over the last 12 months the equity is down 81.7%.
- The shares of Chemours Co (NYSE:CC) are down 6% ahead of the opening bell, after the company noted slowing titanium dioxide demand in Europe and Asia has its full-year earnings results falling behind. Quarter-to-date, CC has added 27.5%.
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Today features the S&P Case-Shiller U.S. home price, the FHFA U.S. home price, and the consumer confidence indexes.
European Markets Edge Higher on German CPI Data
Stocks in Asia closed mostly higher, despite the continued unrest surrounding China’s Covid lockdown measures. The country’s health officials reported an increase in vaccinations in elderly populations, leading many around the globe to hope China’s harsh Covid restrictions could soon ease. In Japan, the Nikkei dropped 0.5%, as retail sales numbers came in below expectations. Meanwhile, Hong Kong’s Hang Seng added 5.2% thanks to a surging tech sector, China’s Shanghai Composite tacked on 2.3%, and South Korea’s Kospi managed a 1% gain.
Over the pond, markets are inching higher, after the German consumer price index (CPI) posted a surprising 0.5% fall in inflation. Improved sentiment in the euro zone is also boosting investor mood. At last glance, London’s FTSE 100 is up 0.7%, Germany’s DAX has added 0.02%, and France’s CAC 40 is sporting a 0.2% lift.