Stock Futures Point to Healthy Gains
Stock futures are pointed higher, as markets look to rebound from their worst week since 2016. Dow Jones Industrial Average (DJI) futures are trading over 300 points above fair value, while the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are also slated for a positive open. Investors are anxious to see President Trump's infrastructure plan, which will be unveiled to some extent later today, and is lifting defense stocks in pre-market trading.
Continue reading for more on today's market, including:
Analyst: Take profits on this casino stock.Check out these 3 volatile drug stocks. The travel stock that shed over 17% last week.Plus... Amazon's expanding empire; Alibaba and Disney team up; and Ford sets lofty goals.
5 Things You Need to Know Today
The Chicago Board Options Exchange (CBOE) saw 1.1 million call contracts traded on Friday, compared to 967,087 put contracts, the most since January 2016. The single-session equity put/call ratio rose to 0.88, the highest since June 2016, while the 21-day moving average jumped to 0.60. Amazon.com, Inc. (NASDAQ:AMZN) stock is up 1.9% in electronic trading, after it was reported the e-commerce giant paid $90 million for the maker of Blink home security cameras last year. The magnitude of the deal highlights Amazon's interest in the company's energy-efficient chips. Amazon stock touched a record high of $1,498 on Feb. 2, but last week pulled back to its 50-day moving average amid the broad-market sell-off.Shares of Alibaba Group Holding Ltd. (NYSE:BABA) are up 2% ahead of the bell, after the Chinese e-commerce giant signed a licensing agreement with Walt Disney (DIS), allowing its content to be featured on BABA's Youku streaming platform. Alibaba stockpulled back since touching a record high of $206.20 on Jan. 31, although the dip appears to have been contained by its 160-day moving average.Ford Motor Company (NYSE:F) stock is 2% higher in electronic trading this morning, after the automaker announced it was boosting its production targets forLincoln Navigator and Expedition SUVs. The new goal is to increase production by 25% this year.Ford stock fell to a five-year low of $10.19 on Feb. 6, and has shed nearly 15% this year alone. The monthly Treasury budget will kick off the week, followed by a rather quiet day of earnings. Diamond Offshore Drilling (DO) is among the names expected to report.
Overseas Stocks on the Mend
Most Asian benchmarks bounced back from last week's stiff losses, though volume was light with markets in Japan closed for holiday. In South Korea, a rally in blue-chip tech stocks Samsung Elecronics and SK Hynix helped lift the Kospi 0.9%. And ahead of the Lunar Year holiday -- which kicks off later this week -- China's Shanghai Composite added 0.8%, while Hong Kong's Hang Seng gave back 0.2%.
Stocks are on the mend in Europe, as global markets stabilize alongside oil prices. In corporate news, Barclays was issued an unlawful financial assistance charge by U.K. regulators-- its second in relation to the bank's 2008 emergency fundraising effort. At last check, the German DAX is up 1.8%, the French CAC 40 is 1.5% higher, and London's FTSE 100 is flirting with a 1.3% lead.