Stock Futures Pointed Lower as Earnings Season Continues

Microsoft stock is staging a post-earnings drop

Deputy Editor
Jan 25, 2023 at 9:11 AM
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Dow futures are down 287 points ahead of the open, while the Nasdaq-100 Index (NDX) eyes a triple-digit drop as well, and the S&P 500 Index (SPX) sit firmly in the red. Investors are still sifting through earnings, with all eyes on Microsoft's (MSFT) post-earnings plunge, following a dismal forecast for its current quarter. 

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

  • Schaeffer's Senior Quantitative Analyst Rocky White unpacks this S&P 500 signal
  • Zscaler stock could suffer a short-term pullback. 
  • Plus, BA drops after earnings; ENPH sees bear notes; and OMC's investor news.

Futures Jan25

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw more than 1.1 million call contracts and 758,093 contracts traded on Tuesday. The single-session equity put/call ratio fell to 0.68 and the 21-day moving average stayed at 0.81.
  2. Boeing Co (NYSE:BA) is down 2.4% premarket, after the airliner reported lower-than-expected fourth-quarter results, despite also announcing its first positive free cash flow since 2018, as demand recovered. Heading into today, BA is up 11.3% for 2022. 
  3. Piper Sandler downgraded Enphase Energy Inc (NASDAQ:ENPH) to "neutral" from "overweight," with a steep price-target cut to $255 from $350, citing a potential reset in the U.S. solar market in 2023. BofA Global Research also slashed its price target to $236 from $277. ENPH is down 4.3% in electronic trading, but remains up 71.3% year-over-year.
  4. Omnicom Group Inc (NYSE:OMC) is up 1.9% before the bell, after news that BlackRock added to its stake in the company, making its holding 9.4%. Year-over-year, the equity is up 13.9%. 
  5. There are no notable economic indicators scheduled for today.

buzzjan25

European Markets Eye German Economic Data

While stocks in China and Hong Kong are still closed for the Lunar New Year Holiday, markets in South Korea and Japan snagged crucial wins. South Korea’s Kospi added 1.4%, led by gains in the tech sector on expectations of a slower pace of rate hikes. The Nikkei in Japan, meanwhile, logged its fourth-straight win after tacking on 0.4%, holding above the psychologically significant 27,000 level.

The major bourses in Europe are lower this afternoon, despite upbeat German business sentiment data. The widely watched Ifo Institute survey showed the Business Climate Index rose to 90.2 points, signaling “considerably less pessimistic expectations.” Still, Germany’s DAX and France’s CAC 40 are both 0.4% lower at last check, while London’s FTSE 100 is down 0.2%.

 

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