Equity futures fall despite optimistic jobs data

Equity futures fall despite optimistic jobs data

All three benchmarks are lower before the opening

Equity futures are lower today, heading for a cold open, just one session after key benchmarks have been managed a fantastic rebound. Wall Street is processing the latest batch of unemployment claim data, which showed initial claims fell by 6,000 to 222,000 last week, against economists’ estimates of 235,000, the lowest level since May. Persistent unemployment claims also fell in the week ending August 20.

Read on to learn more about the current market, including:

  • Schaeffer’s Senior Quantitative Analyst Rocky White explains what to expect if quadruple witch week approaches.
  • Home furnishings stock fueled by gains bull note.
  • In addition, GameStop increases the presence of cryptosphere; solar concern gets double upgrade; and AEO plummets after profit.

September 8, 2022 Futures Chart

5 things you need to know today

  1. More than 1.29 million call contracts and 965,267 put contracts were traded on the Cboe Options Exchange (CBOE) on Wednesday. The put/call ratio for stocks in one session jumped to 0.75, while the 21-day moving average fell to 0.66.
  2. GameStop Corp. (NYSE:GME) was last seen 7.5% higher before the opening bell, looking to cut its 35.2% year-to-date losses. Video game retailer’s stock gets a boost despite the company’s losses of 35 cents a share for the second quarter but also at lower revenues than expected. Instead, GameStop is getting a lift from a deal with FTX that could help boost the company’s presence in the cryptocurrency space.
  3. First Solar, Inc. (NASDAQ:FSLR) has a 3.7% lead ahead of the market at last check, after Goldman Sachs doubled up its shares to “buy.” The company noted the immediate benefits: the solar care could see after the Inflation Reduction Act. In 2022, FSLR is already almost 55% higher.
  4. A number of bear bills have been issued for: American Eagle Outfitters Inc (NYSE:AEO) after the company’s lower-than-expected second-quarter earnings results, including earnings of 4 cents a share — analyst estimates by 9 cents. the own capacity is down 13.3% at the latest and adds to its 54.2% year-to-date deficit.
  5. Quarterly services and consumer credit data are: scheduled for release Today.

OV Buzz Chart Sep 8

European markets react to ECB interest rate hike

Asian markets were mixed on Thursday after strong overnight gains in the state. Investors are also bracing for US Federal Reserve Chairman Jerome Powell’s speech later in the day. The top winners were Japan’s Nikkei, which contributed 2.3%, while South Korea’s Kospi rose 0.3%. Elsewhere, Hong Kong’s Hang Seng lost 1% and China’s Shanghai Composite lost 0.3%.

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