Stock Futures Point to Rebound
Stock futures are higher this morning, after yet another volatile session yesterday. Dow Jones Industrial Average (DJI) futures are up over 100 points ahead of the bell, suggesting the index could retake the 25,000 level for the first time this week. S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are also higher ahead of the open,with help from earnings winners like Twitter (TWTR) and GrubHub (GRUB). Elsewhere, political tension remains in Washington, D.C., where the Senate's two-year spending bill to avoid a government shutdown now faces passage in the House.
Continue reading for more on today's market, including:
This stock market signal hasn't flashed in 40 years.Buy this freight stock after the S&P 500 selloff. 2 biotech stocks that could bounce.Plus... Amazon delivers Whole Foods; GrubHub and Yum team up; and CVS toasts an earnings beat.
5 Things You Need to Know Today
The Chicago Board Options Exchange (CBOE) saw 879,037 call contracts traded on Wednesday -- the lowest total since Dec. 29 -- compared to 594,585 put contracts. The single-session equity put/call ratio fell to 0.68, while the 21-day moving average remained at 0.58. Amazon.com, Inc. (NASDAQ:AMZN) stock is up 1.1% in electronic trading, after the e-commerce giant announced it will deliver Whole Foods groceries in 2 hours for Amazon Prime users. The service will first be offered in Austin, Cincinnati, Dallas, and Virginia Beach. Amazon stock touched a record high of $1,498 on Feb. 2, and has already gained 21% in 2018.GrubHub Inc (NYSE:GRUB) stock is up a whopping 21% ahead of the bell, after the food delivery concern reported solid quarterly earnings and announced a partnership with Yum Brands (YUM). Yum will buy $200 million of GRUB shares to help accelerate growth. GrubHub stock is now on track to open at record highs.CVS Health Corp (NYSE:CVS) stock is up 1.4% in electronic trading, after the drugstore chain beat fourth-quarter earnings and revenue forecasts. CVSalso announced wage increases for workers, citing the tax reform bill. Since falling to a three-year low of $66.45 on Nov. 6, CVS stock has added back 12%. Today will feature weekly jobless claims and the Fed's balance sheet. Minneapolis Fed President Neel Kashkari, Dallas Fed President Robert Kaplan, and Kansas City Fed President Esther George will all speak throughout the day. Activision Blizzard (ATVI), Expedia (EXPE), FireEye (FEYE),Kellogg Company (K), NVIDIA (NVDA), Philip Morris (PM), Regeneron Pharmaceuticals (REGN), Teva Pharmaceuticals (TEVA), and Zillow Group (ZG) are slated for earnings reports.
European Markets Sluggish Amid Spiraling Energy Stocks
It was a mostly higher finish in Asia today. Japan's Nikkei outperformed its regional peers, gaining 1.1% as bank stocks and exporters surged, and Bank of Japan Governor Haruhiko Kuroda reiterated support for the central bank's current monetary easing program. South Korea's Kospi added 0.5%, as tech shares gained ground, while Hong Kong's Hang Seng rose 0.4%. China's Shanghai Composite, however, fell 1.4% -- erasing its year-to-date gains -- after a sharp drop in the country's trade deficit sent the yuan tumbling.
European markets are lower at midday, taking their bearish cue from Wall Street. A hawkish tone from German central bank President Jens Weidmann and spiraling energy stocks are also weighing on investor sentiment, though the telecom sector is outperforming as takeover chatter swirls around Danish firm TDC. At last check, the German DAX was down 1.1%, the French CAC 40 was off 0.7%, and London's FTSE 100 was 0.9% lower -- with the Bank of England leaving interest rates unchanged, as expected.