Stock futures are modestly higher this morning, as Wall Street continues to unpack yesterday's trade updates amid a slew of corporate earnings reports. President Donald Trump's tariffs went into effect overnight, with Syria, Laos, and Myanmar seeing some of the biggest duties. U.S. gold futures already hit a record high this morning, following news of surprise levies on 1-kg gold bars. At this point, all three major indexes are headed for weekly wins.
Continue reading for more on today's market, including:
- AMC Entertainment stock pulls back before report.
- Options strategy to utilize during earnings season.
- Plus, three stocks making big moves after earnings.
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw over 2.5 million call contracts and more than 1.4 million put contracts traded on Thursday. The single-session equity put/call ratio came in at 0.57, while the 21-day moving average fell to 0.58.
- Tech stock Trade Desk Inc (NASDAQ:TTD) is down 33.7% premarket. The company posted a second-quarter earnings miss and announced the departure of CFO Laura Schenkein, which attracted a slew of downgrades and price-target cuts. Plus, CEO Jeff Green warned of tariff impacts. The shares are already down 24.8% year to date.
- Shares of Expedia Group Inc (NASDAQ:EXPE) are up 15.1% before the bell, after the company posted better-than-expected second-quarter earnings results and lifted its full-year outlook. In response, no fewer than eight firms raised their price targets. Should these gains hold, EXPE will add immensely to its 0.7% year-to-date lead.
- Monster Beverage Corp (NASDAQ:MNST) stock is up 8.1% in electronic trading, after the energy drink company's strong second-quarter results yielded an upgrade from Piper Sandler to "overweight" from "neutral." At least six other analysts lifted their price targets as well. MNST is up 15.7% since the start of the year.
- There are plenty more earnings reports due out next week, as well as inflation data.
Japan Rises on Trade Agreement Correction
Asian markets settled mostly lower, apart from Japan’s Nikkei, which added 1.9% after government officials announced President Trump will fix a trade agreement error, a move expected to bring the country some relief. Other markets slipped, including Hong Kong’s Hang Seng, which fell 0.9%, and China’s Shanghai Composite, which stumbled 0.1% as the semiconductor sector struggled to find its footing. South Korea’s Kospi also closed 0.6% lower.
European markets are mixed, with London’s FTSE 100 0.09% lower as uncertainty lingers following the Bank of England’s (BoE) divisive decision to slash the key interest rate by 25 basis points. On a more positive note, France’s CAC 40 and Germany’s DAX are aiming to end the week higher, up 0.2% and 0.04% respectively at last glance.
