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Stocks Point Lower as Earnings Season Begins

Friday, April 12, 2024 08:27 AM | Bobby Raines

First Look

Stocks are pointed slightly lower Friday morning. Earnings season is kicking off today with mega-cap banks. JP Morgan (JPM) is lower after reporting a lower-than-expected net interest margin. Citigroup (C) is higher. The Dow Jones is down 0.15%, the S&P is down 0.22%, and the Nasdaq is down 0.33%.

Today's Sentiment

Neutral

Quote of the Day

There's no business like show business, but there are several businesses like accounting.
David Letterman

Daily Action Trade

Stocks on the Move

Higher

  • PaxMedica (PXMD)
  • NextPlat (NXPL)
  • Beneficient (BENF)
  • Globe Life (GL)
  • Allarity Therapeutics (ALLR)
  • Hub Cyber Security (HUBC)

Lower

  • Motus GI Hldgs (MOTS)
  • C3is (CISS)
  • Monogram Orthopaedics (MGRM)
  • Marin Software (MRIN)
  • Lixiang Education Hldg (LXEH)
  • Avinger (AVGR)

Upgrades & Downgrades

Upgrades

  • FMS Enterprises Migun Ltd (FBRT)
  • Mobileye Global Inc (MBLY)
  • Coca-Cola Femsa SAB de CV (KOF)
  • Gitlab Inc (GTLB)
  • Evotec SE (EVO)
  • Ecolab Inc (ECL)

Downgrades

  • TPG RE Finance Trust Inc (TRTX)
  • VF Corp (VFC)
  • Instil Bio Inc (TIL)
  • Target Hospitality Corp (TH)
  • Packaging Corp Of America (PKG)
  • Corteva Inc (CTVA)

International Markets

Stocks in Asia are mixed. The Mumbai Sensex (S&P BSE SENSEX) is up 0.47%, the Shanghai SE Composite Index is up 0.23%, the Nikkei 225 is up 0.21%, the Hang Seng is down 0.26%, and the Australia ASX All Ordinaries is down 0.33%. In Europe, stocks are up. The FTSE 100 is up 1.52%, the DAX is up 0.86%, the CAC 40 is up 0.82%, and the Euro Stox 50 is up 0.75%.

Futures & Currencies

Energy futures are mixed today. The price for West Texas Intermediate crude oil is up $0.44 at $86.02 per barrel. Brent crude is up $1.1 at $90.64 per barrel. Natural Gas is down $0.02 at $1.75. Precious metals are up this morning. Gold is up $17.94 at $2391.53 per ounce. Platinum is up $16.5 at $992.5, while silver is up $0.47 at $28.96. The dollar is mixed compared to the major currencies today. The greenback is up against the euro, flat against the Yen, and up against the Pound. Bitcoin is up 0.83% to $70,792.24, while Ethereum is down 0.23% to $3,526.76.

Put/Call Ratio

Yesterday, 4,136,403 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 4,069,852 put contracts. The single-session put/call ratio was 0.98.

Today's Economic Calendar

No. What's Happening? Period Release Time
1 U. Mich Consumer Sentiment April 10:00 a.m.
2
3

Earnings Expected Today

BLK, BSVN, C, JPM, KULR, PGR, STT, WFC

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