The major indexes nabbed record closes yesterday
Stock futures are struggling for direction after more record highs for the major indexes on Monday. Futures on the Dow Jones Industrial Average (DJIA) are modestly higher this morning, while futures on the Nasdaq-100 Index (NDX) and S&P 500 Index (SPX) sit flat. Remarks from several Federal Reserve officials are due out today, alongside the National Federation of Independent Business' (NFIB) optimism index. Meanwhile, Treasury yields are inching higher ahead of this week's inflation data.
Continue reading for more on today's market, including:
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw over 2.5 million call contracts and more than 1.2 million put contracts exchanged on Monday. The single-session equity put/call ratio fell to 0.48 and the 21-day moving average remained at 0.62.
- Shopify Inc (NYSE:SHOP) is up 23% premarket, looking to extend last session's 52-week highs, after the Canada-based e-commerce name's strong third-quarter results. Year to date, the equity is up 15.5% coming into today.
- Home Depot Inc (NYSE:HD) is up 1.5% in electronic trading, after the company announced better-than-expected third-quarter earnings and revenue and lifted its full-year forecast. Since the start of the year, HD is up 17.8%.
- Shares of Twilio Inc (NYSE:TWLO) are 1.6% higher before the bell, after an upgrade from Wells Fargo to "overweight" from "equal weight." Looking to build on last session's two-year highs, TWLO is 23.9% in 2024.
- Key inflation data due out this week.
Stocks Lower Overseas
Asian markets cooled off today across the board. Hong Kong’s Hang Seng paced the region with a 2.8% loss, while China’s Shanghai Composite gave back 1.4%. Japan’s Nikkei brushed off an upbeat earnings report from Softbank to finish 0.4% lower, while South Korea’s Kospi shed 1.9%.
Over in Europe, bourses are also in the red, with mining stocks the notable laggards. London’s FTSE 100 is 0.9% lower at last check, as investors brace for U.K. inflation data later this week. The French CAC 40 is off by 1.4%, while the DAX is 1.1% lower after German inflation rose 2.4% in October, on par with estimates but starkly above the 1.8% rise in September.