Futures Point Higher Thursday; Headline PCE Expected to Rise, Dollar General Strumbles on Earnings

First Look

Futures point mostly higher Thursday morning. Fed Chair Jerome Powell signaled that the central bank will slow the pace of rate hikes next month. PCE Prices for November are expected to show a 0.4% rise, while core PCE prices are expected to increase by 0.2%. Meanwhile, the ISM Manufacturing Index is expected to fall into contraction territory with a reading of 49.8%. Dollar General (DG) is down 5.35% in pre-market trading after the retailer missed earnings estimates and issued downside fourth-quarter revenue guidance. Lastly, Kroger (KR) is up 3.23% after topping estimates and raising full-year 2023 earnings guidance. The S&P is up 0.12%, the Nasdaq is up 0.07%, the Dow Jones is down -0.02%.

Today's Sentiment

Quote of the Day

Doubt kills more dreams than failure ever will.
Suzy Kassem

Stocks on the Move

International Markets

Stocks in Asia are up. The Australia ASX All Ordinaries is up 0.98%, the Nikkei 225 is up 0.92%, the Hang Seng is up 0.75% the Shanghai SE Composite Index is up 0.45% and the Mumbai Sensex is up 0.29%. In Europe stocks are up. The DAX is up 0.82%, the Euro Stoxx 50 is up 0.64%, the CAC 40 is up 0.23% and the FTSE 100 is up 0.11%.

Futures & Currencies

Energy futures are up today. The price for West Texas Intermediate crude oil is up 1.02 at 81.56 per barrel. Brent crude is up 0.99 at 87.96 per barrel. Natural Gas is up 0.09 at 7.02. Precious metals are mixed this morning. Gold is up 16.34 at 1784.87 per ounce. Platinum is down -3.57 at 1033.65 while silver is up 0.61 at 22.4. The dollar is down compared to the major currencies today. The greenback is down against the euro, down against the Yen and down against the Pound. Bitcoin is up 1.83% to $17,139.21 while Ethereum is up 2.12% to $1,287.89.

Put/Call Ratio

Yesterday, 1,551,104 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 1,962,474 put contracts. The single-session put/call ratio was 1.27.

Today's Economic Calendar

Earnings Expected Today