Futures Point Higher Thursday; Producer Prices Expected to Cool, Disney Tops Estimates

Last Updated: Thursday, August 11, 2022 8:20 AM | Nick Dey

First Look

Futures are pointed higher Thursday morning. Cryptos are rallying, with the crypto market up 7.94% over the last 24 hours. The Producer Price Index is expected to slow to a monthly rise of 0.3% in July, following a 1.1% rise in June. Core producer prices are expected to have remained steady at a 0.4% rise. Weekly jobless claims are expected to edge higher to 263,000 claims. Meanwhile, The Walt Disney Company (DIS) is up 9.12% after topping earnings and revenue estimates as theme park demand continues to surprise and Disney+ added six million subscriptions. Separately, Disney announced a forthcoming ad-supported Disney+ subscription tier, which will launch on December 8. The Dow Jones is up 9%, the Nasdaq is up 0.44%, the S&P is up 0.43%.

Today's Sentiment

Neutral

Quote of the Day

I learned not to worry so much about the outcome, but to concentrate on the step I was on and to try to do it as perfectly as I could when I was doing it.
Steve Wozniak

Stocks on the Move

Higher

  • Walt Disney Co (DIS)
  • Carnival Corp (CCL)
  • Royal Caribbean Cruises Ltd (RCL)
  • Tapestry Inc (TPR)
  • Schlumberger NV (SLB)

Lower

  • Invesco Ltd. (IVZ)
  • Pfizer Inc. (PFE)
  • General Motors Company (GM)
  • Cardinal Health Inc (CAH)
  • Lowe`s Companies Inc (LOW)

Upgrades & Downgrades

Upgrades

  • Shopify Inc (SHOP)
  • Cheniere Energy Partners LP (CQP)
  • AcuityAds Holdings Inc (ATY)
  • Healthcare Realty Trust Inc (HR)
  • Fiserv Inc (FISV)
  • Boot Barn Holdings Inc (BOOT)

Downgrades

  • Atlas Corp (ATCO)
  • Trinseo PLC (TSE)
  • Elastic NV (ESTC)
  • Welltower Inc (WELL)
  • Grupo Televisa SAB ADR (TV)
  • Seer Inc (SEER)

International Markets

Stocks in Asia are mixed. The Hang Seng is up 2.4%, the Shanghai SE Composite Index is up 1.6%, the Australia ASX All Ordinaries is up 1.2% the Mumbai Sensex is up 0.88% and the Nikkei 225 is down -0.65%. In Europe stocks are mixed. The DAX is up 0.18%, the Euro Stoxx 50 is up 0.11%, the CAC 40 is down -0.08% and the FTSE 100 is down -0.34%.

Futures & Currencies

Energy futures are up today. The price for West Texas Intermediate crude oil is up 1 at 92.93 per barrel. Brent crude is up 0.95 at 98.35 per barrel. Natural Gas is up 0.19 at 8.39. Precious metals are mixed this morning. Gold is up 3.78 at 1796.16 per ounce. Platinum is up 20.31 at 964.89 while silver is down -0.18 at 20.56. The dollar is mixed compared to the major currencies today. The greenback is down against the euro, down against the Yen and up against the Pound. Bitcoin is up 6.31% to $24,632.11 while Ethereum is up 11.91% to $1,913.86.

Put/Call Ratio

Yesterday, 1,460,580 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 843,661 put contracts. The single-session put/call ratio was 0.58.

Today's Economic Calendar

No. What's Happening? Period Release Time
1 Core PPI Jul 08:30 ET
2 PPI Jul 08:30 ET
3 Initial Claims 08/06 08:30 ET

Earnings Expected Today

AEG, AFMD, AIT, DDL, EVLO, EYE, GGR, HBI, HIMX, HMPT, KBCSY, MTNB, NVZMY, PBSFY, RWEOY, SIEGY, SIX, SNCE

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