Stock Futures Pointed Lower Despite Fed Chair Nomination

Dow Jones Industrial Average (DJIA), Nasdaq-100 Index (NDX), and S&P 500 Index (SPX) futures are pointed lower this morning, but pared steeper losses after President Donald Trump nominated Kevin Warsh as the next Federal Reserve chair. Warsh, who was a Fed governor from 2006 to 2011, is widely expected to advocate for lower interest rates. Meanwhile, December's producer price index (PPI) came in higher than expected, highlighting the battle against inflation. 

Apple (AAPL) shares are inching lower despite upbeat earnings, with gold and silver prices also taking a breather amid concentration concerns. For the week, the Dow is headed for its third-straight weekly loss, while the S&P 500 and Nasdaq eye weekly wins. 

• Breaking down options chain components.
• Bank stock could rally back toward record highs.
• Plus, V, AAPL, and SNDK respond to earnings.

5 Things You Need to Know Today

1. The Cboe Options Exchange saw over 3.1 million call contracts and more than 1.6 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. 
2. Shares of Apple Inc (NASDAQ:AAPL) are down 0.4% premarket, despite the Big Tech giant announcing a top- and bottom-line win for the fiscal first quarter tied to strong iPhone 17 revenue. Longer term, AAPL sports a 21.1% nine-month lead.
3. Visa Inc (NYSE:V) stock is down 0.7% before the bell, also brushing off better-than-expected earnings and revenue for the fiscal first quarter. The credit card stock has dipped 4% in the last six months.
4. SanDisk Corp (NASDAQ:SNDK) shares are 23.3% higher in electronic trading, after the data storage company reported a fiscal second-quarter earnings and revenue beat, and issued a strong fiscal third-quarter outlook. SNDSK sports a massive 1,554.8% lead for the last nine months.
5. More big name earnings and jobs data on tap next week.

European Stocks Higher as Earnings Roll In

Asian stocks were a mixed bag today. Hong Kong’s Hang Seng slid 2.1% after HSBC – the region’s largest bank – experienced member accessibility issues through the lender’s app, which still isn’t fully resolved. Elsewhere, South Korea’s Kospi tacked on 0.06%, Japan’s Nikkei fell 0.1%, while China’s Shanghai Composite that dipped 1%.

European bourses charged higher as investors unpacked big name company earnings and heightened focus on international relations. France’s CAC 40 was last seen up by 0.7%, while Germany’s DAX is gaining 0.8%, and London’s FTSE 100 is 0.4% higher.