Stock futures are mixed before the bell
Stocks are mixed this morning, with futures on the Nasdaq-100 Index (NDX) up 60 points as tech rebounds following both the Nasdaq Composite (IXIC) and Nvidia's (NVDA) worst days since April. S&P 500 Index (SPX) futures are inching higher ahead of the open as well, while futures on the Dow Jones Industrial Average (DJI) are modestly lower. The S&P CoreLogic Case-Shiller 20-city house price index posted a lift of 0.4% for April, another record high.
Continue reading for more on today's market, including:
- Outperforming stocks to watch this year, per Schaeffer's Senior V.P. of Research Todd Salamone.
- Options bulls doubled their money with this call recommendation.
- Plus, SEDG looks to extend recent lows; SE downgraded; and blue-chip stock lands new coverage.
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 1.6 million call contracts and 937,013 put contracts exchanged on Monday. The single-session equity put/call fell to 0.58, while the 21-day moving average stayed at 0.68.
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Solaredge Technologies Inc (NASDAQ:SEDG) is down 18.3% before the bell, after the company announced a $300 million private offering of convertible notes. In response, no fewer than three analysts slashed their price targets. Looking to extend last session's six-year lows, SEDG is down 64.5% year to date.
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Sea Limited (NYSE:SE) is down 4.2% premarket, after a downgrade from J.P. Morgan Securities to "neutral" from "overweight." Looking to pull back from last session's 52-week highs, SE is up 87.4% since the start of 2024.
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Goldman Sachs initiated coverage on
Walt Disney Co (NYSE:DIS) with a "buy" rating, pushing the stock 0.6% higher in electronic trading. Year to date, the
entertainment giant is up 12.9% heading into today.
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Asian Stocks Mixed Amid Fresh Consumer Data
While stocks in Asia were mostly higher Tuesday, China’s Shanghai Composite lost 0.4% after Reuters reported the Biden administration’s probe into China Mobile, China Telecom, and China Unicom. According to the report, worries are arising that the three telecommunications firms might have access to American data through cloud and internet units. Elsewhere, Japan’s Nikkei gained 1%, after the services producer price index (PPI) rose 2.5% in May. South Korea’s Kospi tacked on 0.4%, after the consumer confidence index bounced to 100.9 in June, while Hong Kong’s Hang Seng gained 0.3%.
The major European bourses are lower this afternoon, as investors in the region are reacting to downbeat stateside market sentiment. At last glance, Germany’s DAX is 1.1% lower, France’s CAC 40 is down 0.9%, and London’s FTSE 100 is off 0.2%.