Dow Jones Industrial Average (DJIA) futures are slightly above breakeven this morning, with S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures also indicating a higher open. Wall Street is enjoying residual tailwinds from bank earnings, chip and bank stock strength, and the new trade deal between the U.S. and Taiwan. Investors remain cautious amid geopolitical concerns around Greenland, Iran, and Venezuela, however. Headed into the session, all three major benchmarks are on track for weekly losses.
- Unpacking Taiwan Semiconductor's record quarter.
- Sports betting stock drawing bullish attention.
- Plus, why JBHT is lower; another chip stock enjoying tailwinds; and biotech stock surges on upbeat guidance.
5 Things You Need to Know Today
- The Cboe Options Exchange saw over 2.4 million call contracts and more than 1.2 million put contracts traded on Thursday. The single-session equity put/call ratio fell to 0.52, while the 21-day moving average remained at 0.58.
- The shares of J.B. Hunt Transport Services Inc (NASDAQ:JBHT) are 0.4% lower premarket, after the company reported a 2% year-over-year sales drop in the fourth quarter, despite beating earnings and revenue expectations. JBHT sports a 59.8% nine-month lead and yesterday tapped a fresh annual high of $208.79.
- Micron Technology Inc (NASDAQ:MU) stock is 4.7% higher before the bell, after news that board member and Director Mark Liu bought $7.8 million worth of shares, according to a Securities and Exchange Commission (SEC) filing. In the last nine months, MU has added a whopping 389.3%.
- Immunitybio Inc (NASDAQ:IBRX) shares are 13.2% higher in electronic trading, thanks to the biotech name's positive outlook for bladder cancer drug Anktiva, with full-year revenue expected to rise 700%. IBRX already boasts a 65.3% year-over-year lead.
- Plenty of economic data encompasses the week of MLK Day.
Asian Markets Respond to U.S.-Taiwan Trade Deal
Asian markets were all over the place today, as investors weighed a fresh trade deal between the U.S. and Taiwan. South Korea’s Kospi gained 0.9%, landing in positive territory for its 11th-straight session, and tapped another record high. Elsewhere, Japan’s Nikkei dipped 0.3% and extended Thursday’s losses, led by SoftBank’s pullback from earlier gains. Meanwhile, Hong Kong’s Hang Seng finished 0.5% lower, while China’s Shanghai dipped 0.3%.
European bourses are sitting lower today, as investors await geopolitical developments. At last look, London’s FTSE 100 is marginally lower, while the German DAX is down 0.2%, and the French CAC 40 marks a 0.7% drop.
