All three major indexes are higher before the bell
Stock futures are higher Monday, following record highs for the Nasdaq Composite Index (IXIC) on Friday, with Nasdaq-100 Index (NDX) futures up triple digits ahead of a batch of mega-cap tech earnings. Futures on the Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) are firmly higher as well, as traders keep an eye on the global geopolitical situation.
Specifically, Wall Street is watching the Middle East after Israel launched an airstrike assault on Iran. The barrage avoided the latter's oil and nuclear facilities, calming fears surrounding the potential impact on crude prices.
Continue reading for more on today's market, including:
- How this ETF is outrunning the SPX.
- Watch for this homebuilding stock to move even higher.
- Plus, why oil stocks are lower; McDonald's stock attempts to recover; and a pre-earnings look at F.
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 2 million call contracts and 1 million put contracts exchanged on Friday. The single-session equity put/call ratio fell to 0.51 and the 21-day moving average stayed at 0.63.
- Diamondback Energy Inc (NASDAQ:FANG) is 3.2% lower before the bell, falling alongside crude prices and other oil-related equities after Israel's weekend airstrikes on Iran. Year to date, FANG is up 18.9%.
- McDonald's Corp (NYSE:MCD) stock is attempting to recover the recent E. coli breakout across its U.S. locations. Testing by the fast-food giant ruled out beef as the source of the outbreak, which has spread to 75 people in 13 states and resulted in one death. Up 1.1% in electronic trading, MCD could potentially reestablish itself above its year-to-date breakeven mark.
- Shares of Ford Motor Co (NYSE:F) are 0.9% higher in premarket trading, looking to add to a 4.8% quarter-to-date lead before reporting earnings. The auto maker is expected to report third-quarter results after today's close, and analysts estimate profits of 46 cents per share on revenue of $45.1 billion -- both big leaps from financial figures reported one year ago.
- Employment data and more earnings are due out this week.
Japan's LDP Loses Parliamentary Majority
Asian markets moved higher on Monday. Japan’s Nikkei rose 1.8% today, as investors consider future interest rate cut moves from the Bank of Japan (BoJ) amid political uncertainty, after the Liberal Democratic Party lost its parliamentary majority for the first time since 2009. Elsewhere, the South Korean Kospi rose 1.1%, while Hong Kong’s Hang Seng and China’s Shanghai Composite added 0.04% and 0.7%, respectively.
European bourses are tepidly lower. London’s FTSE 100 was last seen down 0.4%, while the German DAX drops 0.3%, and the French CAC 40 sheds 0.03%.