Stock Futures Rise Despite Another Brutal Jobs Report
President Trump will announce guidelines to reopening the economy later today
After a sluggish start, Dow Jones Industrial Average (DJI) futures are climbing, shaking off subpar economic data this morning. The positive price action comes even after the latest weekly jobless claims report of 5.24 million, that topped the 5 million estimate. Futures on the Nasdaq-100 Index (NDX) and S&P 500 Index (SPX) are also modestly above fair value, as Wall Street prepares for remarks from U.S. President Donald Trump later today, who will lay out guidelines on a gradual reopening of parts of the economy shut down by the coronavirus outbreak. Elsewhere, housing starts fell by 22.3% in March to 1.2 million, lower than the anticipated 1.3 million drop.
Continue reading for more on today's market, including:
Clorox stock is ripe for a short squeeze.This cereal stock just keeps climbing. Plus, Abbot Labs soars post-earnings; Square stock downgraded; and bank stock whiffs onearnings, revenue. 
5 Things You Need to Know Today
The Cboe Options Exchange (CBOE) saw 1.2 million call contracts traded on Wednesday, and 808,354 put contracts. The single-session equity put/call ratio soared to 0.70, and the 21-day moving average fell to 0.72.Abbott Laboratories (NYSE:ABT) stock is pointed 1.1% lower in premarket trading, despite the drug company reporting first-quarter earnings and revenue that exceeded analyst expectations. ABT did share a 16% fall in profit, but remains up 15% this quarter.Square Inc (NYSE:SQ) stock is down 3.1% before the open, after Raymond James downgraded the payments processor to "underperform" from "market perform." The analyst in coverage warned of a disconnect between Square's stock performance and business fundamentals. SQ is facing off with its year-to-date breakeven point, but is a ways away from its March 18, three-year low of $32.33.The shares of Morgan Stanley (NYSE:MS) are down 2.5% in electronic trading, after the banking concern reported first-quarter earnings and revenue that whiffed on Wall Street expectations. The company did assert its liquidity and balance sheet remain viable. MS was down 24% year-to-date heading into today.Today will deliver building permits and the Philly Fed manufacturing index.BlackRock (BLK), Delta Air Lines (DAL), Honeywell (HON), Ride Aid (RAD), Sonoco (SON), and Skechers USA (SKX) will throw their hats into the earnings ring.
Asian Markets Mixed, Europe Weighs COVID-19 Restrictions
Markets in Asia were mixed on Thursday, as investors continued to monitor the economic effects of the coronavirus globally. Japan's Nikkei shed 1.3%, dragged lower by robot name Fanuc, while the Hong Kong Hang Seng lost 0.6%. The South Korean Kospi finished flat, and the Shanghai Composite in China added 0.3%.
Over in Europe, the major bourses are modestly higher, with the German DAX taking the lead on a 1% pop, as the country began easing COVID-19-related restrictions on public life. Meanwhile, the London FTSE 100 is up 0.3%, and the French CAC 40 has added 0.4% so far today.