Stock Futures Edge Lower Wednesday; Advance Auto Parts, Target Plunge Following Earnings

First Look

Stock futures point to a lower open Wednesday. Futures gave up earlier gains due to uncertainty over escalation following the rocket strike that hit Poland, though it seems unlikely at this time that Poland will invoke Article 4 of NATO to kick off discussions. Retail sales are expected to rise at a faster pace of 0.9% in October, while sales excluding autos are expected to rise by 0.6%. Target (TGT) is down 14.59% in pre-market after the company posted a sharp earnings miss. Lastly, Advance Auto Parts (AAP) is down 15.46% after missing third-quarter earnings and lowering its full-year 2022 earnings guidance. The S&P is down -0.03%, the Dow Jones is down -0.04%, the Nasdaq is down -0.07%.

Today's Sentiment

Quote of the Day

Aim for the sky, but move slowly, enjoying every step along the way. It is all those little steps that make the journey complete.
Chanda Kochhar

Stocks on the Move

International Markets

Stocks in Asia are mixed. The Mumbai Sensex is up 0.17%, the Nikkei 225 is up 0.14%, the Australia ASX All Ordinaries is down -0.25% the Shanghai SE Composite Index is down -0.45% and the Hang Seng is down -0.47%. Stocks in Europe are down. The DAX is down -0.93%, the Euro Stoxx 50 is down -0.51%, the CAC 40 is down -0.43% and the FTSE 100 is down -0.09%.

Futures & Currencies

Energy futures are mixed today. The price for West Texas Intermediate crude oil is down -0.06 at 86.86 per barrel. Brent crude is up 0.21 at 94.07 per barrel. Natural Gas is down -0.12 at 5.92. Precious metals are mixed this morning. Gold is up 0.99 at 1779.93 per ounce. Platinum is down -2.12 at 1016.28 while silver is up 0.4 at 21.92. The dollar is mixed compared to the major currencies today. The greenback is down against the euro, up against the Yen and down against the Pound. Bitcoin is down -1.55% to $16,575.36 while Ethereum is down -3.99% to $1,217.62.

Put/Call Ratio

Yesterday, 1,929,439 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 1,114,678 put contracts. The single-session put/call ratio was 0.58.

Today's Economic Calendar

Earnings Expected Today