Futures Point Higher Thursday; Consumer Prices Expected to Rise, Rivian Rallies

First Look

Futures are pointed higher Thursday morning ahead of a key CPI report. The consumer price index is expected to rise at a faster pace of 0.7% in October, while core prices are expected to cool with a 0.5% jump. Cryptos are lower as the FTX fallout continues, with Sam Bankman-Fried telling investors that the company will have to file for bankruptcy unless it can get a cash injection. Rivian Automotive, Inc. (RIVN) is up 7.87% after the company topped earnings estimates and stuck to its 2022 production targets. Lastly, Six Flags Entertainment (SIX) is up 10.4% despite an earnings and revenue miss as, separately, the company amended its agreement with H Partners to increase its stake to 19.9% of the company's common stock. The Nasdaq is up 0.37%, the S&P is up 0.2%, the Dow Jones is up 0.12%.

Today's Sentiment

Quote of the Day

As you go through life, you've got to see the valleys as well as the peaks.
Neil Young

Stocks on the Move

International Markets

Stocks in Asia are down. The Hang Seng is down -1.7%, the Nikkei 225 is down -0.98%, the Mumbai Sensex is down -0.69% the Australia ASX All Ordinaries is down -0.58% and the Shanghai SE Composite Index is down -0.39%.In Europe stocks are mixed. The DAX is up 0.02%, the Euro Stoxx 50 is down -0.02%, the FTSE 100 is down -0.08% and the CAC 40 is down -0.44%.

Futures & Currencies

Energy futures are mixed today. The price for West Texas Intermediate crude oil is down -0.56 at 85.27 per barrel. Brent crude is down -0.46 at 92.19 per barrel. Natural Gas is up 0.11 at 5.98. Precious metals are mixed this morning. Gold is up 2.47 at 1709.21 per ounce. Platinum is up 6.86 at 996.71 while silver is down -0.13 at 21.2. The dollar is mixed compared to the major currencies today. The greenback is up against the euro, down against the Yen and down against the Pound. Bitcoin is down -5.97% to $16,617.21 while Ethereum is down -1.82% to $1,207.51.

Put/Call Ratio

Yesterday, 1,260,550 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 1,213,394 put contracts. The single-session put/call ratio was 0.96.

Today's Economic Calendar

Earnings Expected Today