EARN25

Stock Futures Mixed as Earnings Flood In

The Dow and S&P 500 are fresh off record closes

Deputy Editor
Jan 23, 2024 at 9:03 AM
facebook X logo linkedin


Stock futures are struggling for direction this morning, after last session saw both the Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) close at record highs. The airline sector is getting a boost from United Airlines' (UAL) post-earnings pop, while investors unpack several other big-name earnings. Elsewhere, keep an eye on the 10-year Treasury yield, last seen back above 4.13%.

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

  • Good news: the SPX is withstanding a sentiment shift, says Schaeffer's Senior V.P. of Research, Todd Salamone. 
  • Steel stock to buy on the dip. 
  • Plus, two key earnings reports to unpack, and wrestling comes to Netflix. 

Futures Janu23

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.6 million call contracts and 799,005 put contracts traded on Monday. The single-session equity put/call ratio fell to 0.49, and the 21-day moving average remained at 0.71. 
  2. United Airlines Holdings Inc (NASDAQ:UAL) stock is up 6.9% premarket, after the company reported upbeat fourth-quarter results and a strong full-year profit forecast. United expects losses in the first quarter, however, due to Boeing (BA) MAX 9 groundings, and is building a fleet without MAX 10's. Since last January, United Airlines stock is down 22.6%. 
  3. RTX Corp (NYSE:RTX) stock is also on the rise before the bell after the defense contractor's better-than-expected fourth-quarter results, up 4.2% at last glance. Aviation strength and defense demand globally gave profits a boost, and RTX will break above 2024 pressure at the $87 level should these gains hold. Year over year, the equity is down 9.9%. 
  4. Entertainment stock TKO Group Holdings Inc (NYSE:TKO) is soaring in electronic trading, up 22.7%, after the company made a deal with Netflix (NFLX) to stream "WWE Raw" in 2025. This bull gap would send TKO into positive territory over the past year and in 2024. 
  5. Plenty of blue-chip earnings reports this week. 

buzzjan23

Asian Bourses Boosted by BoJ Policy

Markets in Asia were mostly higher today, as investors digested an unchanged monetary policy from the Bank of Japan (BoJ) and a surge in tech stocks. In China, officials are allegedly looking to stabilize the region’s stock market, with a 2 trillion yaun stimulus package of measures. For the session, Japan’s Nikkei fell a fractional 0.08%, while a resurgent video game sector helped Hong Kong’s Hang Seng pace the region with a 2.6% pop. Elsewhere, South Korea’s Kospi climbed 0.6%, and Shanghai Composite managed a 0.5% win.

Over in Europe, stocks are also struggling for direction midday. At last glance London’s FTSE 100 and Germany’s DAX are flat, while France’s CAC 40 carries a 0.3% deficit.

 

“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