Dow Futures Eye Triple-Digit Open After Last Week's Drop Off

Pfizer's Covid-19 vaccine may soon be approved for children

Managing Editor
Sep 13, 2021 at 9:25 AM
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Stock futures are on the rebound this morning, with all three major indexes reversing course from Friday's steep losses. The Dow Jones Industrial Average (DJI) is up 230 points in electronic trading, a remarkable bounce from last week, which marked its longest losing streak since June. Covid-19 infections look to be trending lower in the U.S., and whispers that Pfizer's (PFE) vaccine could be approved for kids ages five to 11 are also catching investors' attention. Futures on the S&P 500 Index (SPX) and the Nasdaq-100 Index (NDX) are notably higher as well.

Continue reading for more on today's market, including:

  • Options traders responded to Affirm stock's revenue beat.
  •  Behind Zumiez stock's post-earnings options buzz.
  • Plus, DELL's big bull note; the Chinese tech giant under pressure; and gambling name gets analyst praise.

FuturesSept13

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.9 million call contracts traded on Friday, compared to 1,053,026 million put contracts. The single-session equity put/call ratio rose to 0.53 and the 21-day moving average stayed at 0.51.
  2. Dell Technologies Inc (NYSE:DELL) is up 2.4% in electronic trading, buzzing after being added to Goldman Sachs' "Conviction Buy" list. The brokerage firm praised the company's strong financial standing, including debt and cash flow. DELL has enjoyed a 29.9% climb in 2021.
  3. Chinese tech concern Alibaba Group Holding Ltd (NYSE:BABA) is 1.8% lower heading into Monday's trading, struggling after a Financial Times report claimed the Chinese government is looking to put a halt to Jack Ma's Ant Group's payments company, Alipay. BABA has struggled on the charts, and is down 27.7% in 2021.
  4. MGM Resorts International (NYSE:MGM) is moving 2% higher in early trading. The stock is enjoying a fresh bull note from Bernstein, who upgraded the equity to "outperform" from "market perform." The analyst cited the company's real estate portfolio and its presence in the sports and gaming betting field. Over the past 12 months, MGM has surged more than 85%.
  5. Today's economic data is slow, with only the Federal budget balance on deck.
OV Buzz Chart Sept 13 

European Stocks Move Higher Ahead of Inflation Data

Asian markets were mostly higher today, despite a broader pullback from tech stocks. E-commerce giant BABA was a notable loser, shedding 4.2%, on the aforementioned news. Hong Kong’s Hang Seng lost 1.5%, while China’s Shanghai Composite managed a 0.3% win. Elsewhere, South Korea’s Kospi gained 0.1% and Japan’s Nikkei added 0.2%, despite a lackluster outing from auto stocks Toyota and Honda.

Meanwhile in Europe, stocks are climbing, as investors gear up for the latest inflation readings later this week, after the European Central Bank’s (ECB) interest rate decision last week. At last check, London’s FTSE 100 is up 0.8%, the French CAC 40 sports a 0.9% lead, and the German DAX is 1.1% higher.

Trader: Sell These 8 Stocks in 2021

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