Wall Street is struggling for direction today as earnings reports trickle in, with all three major indexes sitting at or near record highs. Futures on the Dow Jones Industrial Average (DJIA) and S&P 500 Index (SPX) are quietly higher at last check, while Nasdaq-100 Index (NDX) futures are lower, weighed down by lackluster quarterly report from Netflix (NFLX). Gold prices are extending their recent slump, with December-dated bullion last seen 1.4% lower at $4,054 an ounce.
- Does lingering below record highs spell trouble for stocks? Senior Quantitative Analyst Rocky White has the data.
- 25 stocks to target for the fourth quarter, historically.
- Plus, robotics stock showing life; Beyond Meat's crazy action; and Mattel earnings disappoint.
5 Things You Need to Know Today
- The Cboe Options Exchange saw more than 2.3 million call contracts and roughly 1.1 million put contracts exchanged on Tuesday. The single-session equity put/call ratio fell to 0.48, while the 21-day moving average remained at 0.58.
- Intuitive Surgical Inc (NASDAQ:ISRG) stock is up 17% ahead of the bell, after the robotics specialist reported a third-quarter earnings beat. ISRG is poised to reclaim its year-to-date breakeven level today, and potentially trade at its highest levels since early July.
- Beyond Meat Inc (NASDAQ:BYND) stock is up another 87% before the open, after the fake meat company becomes the latest target of the retail trading crowd. BYND has added over 600% in the last two days, trading at a record low of 50 cents on Oct. 16 and now poised to hit $6.73.
- The shares of Mattel Inc (NASDAQ:MAT) are 5.7% lower in electronic trading, after the toymaker's third-quarter earnings and revenue came in below estimates. North American sales and tariff troubles were the culprits for the dismal report. MAT will be testing its 2025 breakeven level today, and has stalled out at $18 multiple times now this year.
- Dow earnings and inflation data are due out this week.
Asian Markets Cool Off as Europe Unpacks Earnings
Asian markets finished mostly lower, with the exception of South Korea’s Kospi, which rose 1.6%, tapping more record highs and marking its sixth-straight win. Exports out of Japan rose 4.2% year-over-year, moving higher for the first time in four months but still missing expectations. The country’s first female prime minister, Sanae Takaichi, was sworn in today. Japan’s Nikkei settled down 0.02%. Hong Kong’s Hang Seng shed 0.9%, while China’s Shanghai Composite sank 0.07%.
Earnings are keeping investor attention in Europe, though stocks are trading mostly in the red. Bank leader Barclays announced a £500 million buyback and raised its full-year guidance, while inflation in the U.K. remained unchanged at 3.8% in September. At last check, London’s FTSE 100 is up 0.9%, France’s CAC 40 is off 0.3%, and Germany’s DAX is 0.1% lower.
