Futures Point Higher Thursday; Musk Scraps Tesla Margin Loan, Macy's Surges on Earnings Beat

First Look

Stock futures are pointed higher Thursday morning. Cryptos are lower. Weekly jobless claims are expected to fall to 210k claims. Elon Musk revised financing for his Twitter (TWTR) buyout bid, scrapping the $6.25 billion margin loan tied to Tesla (TSLA) stock. Tesla is down nearly 40% since Musk announced his stake in Twitter. Lastly, Macy's (M) is up 13% in pre-market trading after beating earnings and offering upside full-year 2023 earnings guidance. The Dow Jones is up 0.61%, the S&P is up 0.59%, the Nasdaq is up 0.26%.

Today's Sentiment

Quote of the Day

Fearless means trusting your instincts and clarity of thought. Once you have made up your mind, don't be scared of what if.
Ravi Shastri

Stocks on the Move

International Markets

Stocks in Asia are mixed. The Mumbai Sensex is up 0.94%, the Shanghai SE Composite Index is up 0.5%, the Hang Seng is down -0.27% the Nikkei 225 is down -0.28% and the Australia ASX All Ordinaries is down -0.71%. In Europe stocks are up. The DAX is up 0.89%, the CAC 40 is up 0.79%, the Euro Stoxx 50 is up 0.78% and the FTSE 100 is up 0.05%.

Futures & Currencies

Energy futures are up today. The price for West Texas Intermediate crude oil is up 0.84 at 111.17 per barrel. Brent crude is up 0.77 at 114.8 per barrel. Natural Gas is up 0.18 at 9.15. Precious metals are mixed this morning. Gold is down -7.43 at 1846.03 per ounce. Platinum is down -5.4 at 944.37 while silver is up 0.04 at 21.91. 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 down -1.42% to $29,033.53 while Ethereum is down -6.42% to $1,822.29.

Put/Call Ratio

Yesterday, 1,069,749 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 668,807 put contracts. The single-session put/call ratio was 0.63.

Today's Economic Calendar

Earnings Expected Today