Schaeffer's Top Stock Picks for '25

Stock Futures Inch Lower on Triple Witching Friday

U.S. manufacturing and services PMI readings are due out later

Deputy Editor
Jun 21, 2024 at 9:15 AM
facebook X logo linkedin


Stock futures are moving lower, as investors mind the potential added volatility for today's triple witching Friday and the release of U.S. manufacturing and services Purchasing Managers' Index (PMI) data. Even though Nasdaq-100 Index (NDX), Dow Jones Industrial Average (DJIA), and S&P 500 Index (SPX) futures are solidly in the red before the opening bell, all three major benchmarks are still pacing for big weekly wins.

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

  • 3 chip stocks worth your consideration.
  • Revisiting one of the world's most valuable public companies.
  • Plus, SRPT's massive jump; Gilead Sciences' HIV treatment; and CarMax stock posts earnings.

Futures Chart June 212024

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 2 million call contracts and 1.2 million put contracts exchanged on Thursday. The single-session equity put/call rose to 0.62, while the 21-day moving average stayed at 0.68.
  2. Sarepta Therapeutics Inc (NASDAQ:SRPT) stock is up 37.9% premarket, after the Food and Drug Administration (FDA) approved an expansion to the indications  for the company's treatment for Duchenne muscular dystrophy, Elevidys. Coming into today, SRPT was up 28.1% in 2024.
  3. Gilead Sciences, Inc. (NASDAQ:GILD) is up 2.8% before the bell, looking to extend yesterday's 8.5% gain. The bounce comes after after the firm's Phase 3 trial of its twice-yearly antiviral injections for HIV prevention was 100% effective. GILD still has some ground to cover if it wants to overcome its 15.5% year-to-date deficit.
  4. Down 7% since the start of the year, CarMax Inc (NYSE:KMX) is up 1.6% in electronic trading after earnings. The used car retailer reported fiscal first-quarter earnings that beat analysts expectations, while comparable-store used unit sales fell 3.8%. 
  5. Economic indicators and earnings to close out June.

Buzz 0621

Japan's Core Inflation Misses the Mark

Asian markets settled lower after core inflation data out of Japan missed expectations, coming in at 2.5%. Plus, the Japanese yen fell for a seventh-straight session, and SoftBank stock tumbled after CEO Masayoshi Son cited a need for “immense capital” to develop artificial intelligence (AI) robotics. Japan’s Nikkei saw a modest 0.09% loss, while China’s Shanghai Composite dropped 0.2%. Meanwhile, South Korea’s Kospi and Hong Kong’s Hang Seng shed 0.8% and 1.7%, respectively.

European markets are unpacking better-than-expected retail sales data out of the U.K., steady French business confidence data, and lackluster German and British flash PMI readings. Investors are also monitoring elections across the continent, as they continue to digest the Bank of England’s (BoE) decision to keep interest rates unchanged, at 5.25%. London’s FTSE 100, the German DAX, and France’s CAC 40 are all 0.6% lower at last glance.

 
 

You have the chance to join one of Bernie's most exclusive programs, complete access at HUGE savings!

As we prepare for a new administration to take the reins in Washington, the near-term market landscape is rife with uncertainty.

The Federal Reserve has already hinted at the turbulence ahead, lowering its interest rate outlook for 2025.

Meanwhile, breakthroughs in artificial intelligence (AI), quantum computing, and other transformative sectors have unlocked incredible profit potential.

But these opportunities are fleeting, and timing is everything. That's where Quick-Hit Trader comes in.

Quick-Hit Trader is designed for precision and speed, getting you in and out of the market in a flash. While other investors scramble to navigate volatile conditions, you'll have access to expertly curated trades that leverage these rapid shifts to deliver explosive profits in short order.

This is your chance to capitalize on the fast-moving market like never before. Are you ready to make your move?

 

 

(function(doc, script) { var js, fjs = doc.getElementsByTagName(script)[0], frag = doc.createDocumentFragment(), add = function(url, id) { if (doc.getElementById(id)) {return;} js = doc.createElement(script); js.src = url; id && (js.id = id); frag.appendChild( js ); }; // Google+ button //add('https://apis.google.com/js/platform.js', async="defer"); // Facebook SDK add('//connect.facebook.net/en_US/all.js#xfbml=1&appId=772755279557744', 'facebook-jssdk'); // Twitter SDK //add('//platform.twitter.com/widgets.js', charset='utf-8'); fjs.parentNode.insertBefore(frag, fjs); }(document, 'script'));