Stock Futures Mixed with Iran, Data in Focus
Investors are weighing a big drop in the U.S. trade deficit
U.S. stock futures are mixed this morning, as the Dow Jones Industrial Average (DJI) will try to again shrug off the lingering tensions around Iran. Outside of this, traders are considering a bigger-than-expected decline in the U.S. trade deficit for November, with more economic data due out shortly after the open. With little else on today's calendar, however, futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are pointing to a mostly flat open.
Continue reading for more on today's market, including:
Traders grab calls before homebuilder's quarterly release.The bull signal flashing on Nordstrom stock. Plus, Pfizer a top pick; retailer gets crushed; and 2 companies making self-driving headlines.
5 Things You Need to Know Today
The Cboe Options Exchange (CBOE) saw 1.21 million call contracts traded on Monday, compared to 603,208 put contracts. The single-session equity put/call ratio moved down to 0.54, while the 21-day moving average was 0.55.RBC yesterday named Salesforce.com (CRM) a top pick in the software space, and last evening said Pfizer Inc. (NYSE:PFE) was its top pick among large-cap pharma stocks. The brokerage firm set a $46 price target, and PFE shares closed yesterday at $38.88. The shares of Pier 1 Imports Inc (NYSE:PIR) are down 15% before the open, on news the company is closing about half its stores and has drafted bankruptcy plans. PIR stock was already down 40% on a year-over-year basis, and could hit record lows today. There's a lot of self-driving car buzz coming out of this year's CES event, including from Intel Corporation (NASDAQ:INTC) and Sony Corp (NYSE:SNE). The former company released a video of its Mobileye autonomous vehicle driving through Jerusalem for 20 minutes, while the latter revealed plans for an electric concept car featuring various Sony technology that it will test later this year.Today will bring the Institute for Supply Management's (ISM) non-manufacturing index, weekly crude inventories, and factory orders. AngioDynamics (ANGO) will step into the earnings confessional.
Overseas Stocks Mostly Higher
Stocks in Asia made outsized gains across the board. Japan's Nikkei paced the region with a 1.6% win on the strength of the auto and tech sectors. Tech stocks also boosted South Korea's Kospi by 1%, while China's Shanghai Composite and Hong Kong's Hang Seng added 0.7% and 0.3%, respectively.
Over in Europe, markets are trading higher, as concerns in the Middle East over U.S.-Iran relations eased for the time being. London's FTSE 100 is up 0.2% at last check, with retailer Marks & Spencer a big riser and automaker Aston Martin a notable laggard after a profit warning. The French CAC 40 is up 0.4% and the German DAX is 0.9% higher.