Senate Reaches Agreement to Avoid Shutdown; Futures Higher

Last Updated: Thursday, September 30, 2021 8:30 AM | Neal Farmer

First Look

Futures pointed higher Thursday morning as the Senate has reached a deal to avoid a government shutdown. Meanwhile, initial unemployment claims are expected to fall from 351,000 to 340,000 claims last week. Bed Bath & Beyond (BBBY) stock is down roughly 17% in premarket trading as the retailer missed on earnings and revenue projections, while also lowering its guidance. Additionally, shares of CarMax (KMX) are down more than 7% as the firm missed on earnings estimates this morning. The Nasdaq is up 0.48%, the S&P is up 0.37%, the Dow Jones is up 0.33%.

Today's Sentiment

Neutral

Quote of the Day

The rewards of freedom are always sweet, but its demands are stern, for at its heart is the paradox that the greatest enemy of freedom is freedom.
Os Guinness

Stocks on the Move

Higher

  • Campbell Soup Company (CPB)
  • Las Vegas Sands Corp. (LVS)
  • Merck & Co., Inc. (MRK)
  • IHS Markit Ltd (INFO)
  • Cardinal Health Inc (CAH)

Lower

  • CarMax, Inc (KMX)
  • Bath & Body Works Inc (BBWI)
  • Tyson Foods, Inc. (TSN)
  • Southwest Airlines Co (LUV)
  • Paycom Software Inc (PAYC)

Upgrades & Downgrades

Upgrades

  • Amicus Therapeutics, Inc. (FOLD)
  • Asbury Automotive Group, Inc. (ABG)
  • Pearson PLC (PSO)
  • PS Business Parks Inc (PSB)
  • Cabot Oil & Gas Corporation (COG)
  • Fox Corp Class A (FOXA)

Downgrades

  • Ameris Bancorp (ABCB)
  • Anheuser Busch Inbev SA (BUD)
  • Starbucks Corporation (SBUX)
  • Kohl's Corporation (KSS)
  • Healthcare Trust Of America Inc (HTA)
  • APA Corp (US) (APA)

International Markets

Stocks in Asia are mixed. The Australia ASX All Ordinaries is up 1.73%, the Shanghai SE Composite Index is up 0.9%, the Nikkei 225 is down -0.31% the Hang Seng is down -0.36% and the Mumbai Sensex is down -0.48%. In Europe stocks are mixed. The FTSE 100 is up 0.21%, the CAC 40 is down -0.07%, the Euro Stoxx 50 is down -0.16% and the DAX is down -0.32%.

Futures & Currencies

Energy futures are mixed today. The price for West Texas Intermediate crude oil is down -0.67 at 74.16 per barrel. Brent crude is down -0.45 at 78.19 per barrel. Natural Gas is up 0.23 at 5.71. Precious metals are up this morning. Gold is up 1.8 at 1728.17 per ounce. Platinum is up 8.4 at 962.73 while silver is up 0.14 at 21.63. The dollar is mixed compared to the major currencies today. The greenback is up against the euro, up against the Yen and down against the Pound.

Put/Call Ratio

Yesterday, 1,500,243 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 769,624 put contracts. The single-session put/call ratio was 0.51.

Today's Economic Calendar

No. What's Happening? Period Release Time
1 Initial Claims 9/25 8:30
2 Continuing Claims 9/18 8:30
3 GDP - Third Estimates Q2 8:30

Earnings Expected Today

BBBY, KMX, MKC, PAYX, SGH

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