Good morning traders and investors of the r/StockMarket sub! Welcome to the new trading month and a fresh start! Here are your pre-market news this AM-
- U.S. stock futures were pointing to a higher open, but not close to erasing a significant portion of Friday’s coronavirus-driven sell-off. The Dow had its worst day since August on Friday. The S&P 500 since October. Both were pushed into negative territory for January. The Dow is now at its lowest since Dec. 18, with the S&P 500 finishing at its lowest since Dec. 30. The Nasdaq, however, did manage to finish January with a 2% gain. (CNBC)
- Chinese markets plunged on their return from the extended Lunar New Year holiday, and maintained steep declines by the close. The Shanghai composite fell 7.72% while the Shenzhen component dropped 8.45%. The moves in Chinese stocks were playing catch up as the coronavirus outbreak continues to widen. (CNBC)
- On today’s U.S. economic calendar, both the ISM manufacturing Index and December construction spending are released at 10 a.m. ET. Food distributor Sysco (SYY) is one of the few companies set to release quarterly earnings this morning, while Google parent Alphabet (GOOGL) grabs the spotlight in today’s after-the-bell reports. The pace of earnings reports picks up substantially over the next few days, with 86 S&P 500 companies scheduled to issue numbers. (CNBC)
- Sen. Bernie Sanders, former Vice President Joe Biden, Sen. Elizabeth Warren and former Mayor Pete Buttigieg all have a good chance to leave today’s first-in-the-nation Iowa presidential caucuses with the most delegates. Recent polls show a tight race, and the fluid nature of the caucuses suggest any of the leading candidates could enjoy a surprisingly strong showing in the first nominating contest. (CNBC)
- Iowa caucus: What it is, how it works and why it’s important (CNBC)
- Big Tech faces high-stakes test with Iowa caucuses (CNBC)
- ‘I will pay more’: Bloomberg unveils $5 trillion tax plan targeting wealthy and corporations (CNBC)
- John Kerry overheard discussing possible 2020 bid (NBC News)
- Senate leaders have reached a deal to postpone the final vote in President Donald Trump’s impeachment trial, whether to convict or acquit him, until Wednesday The arrangement delays the vote until after tonight’s Iowa caucus, and the president’s State of the Union Address, scheduled for tomorrow. (CNBC)
- Poll: US is split on Trump’s removal from office; top Dems lead him in 2020 race (CNBC)
- Key dates on the US presidential election calendar (Reuters)
- Italy’s health ministry has confirmed health ministers from the Group of Seven will discuss the coronavirus outbreak in a teleconference call at 8 a.m. ET today.The U.S. reported two more coronavirus cases Sunday, for a total of 11. China’s reported a total of 361 deaths and 17,205 confirmed cases. (CNBC)
- Apple temporarily shuts all stores and offices in mainland China (CNBC)
- Hong Kong leader Carrie Lam announced today the city would suspend 10 out of a possible 13 border crossings with mainland China in an effort to curb the coronavirus. Thousands of medical workers in Hong Kong went on strike, in hopes of convincing the city’s government to a complete shutdown of its borders with the mainland. (CNBC)
- Bernard Ebbers, a former telecom executive convicted in one of the largest corporate accounting scandals in U.S. history, died yesterday, just over a month after his early release from prison. The Canadian-born Ebbers was convicted in New York in 2005 on securities fraud and other charges and received a 25-year sentence. (AP)
- WeWork reportedly intends to name Sandeep Mathrani, a veteran in the real estate industry, as its new CEO. Mathrani was previously CEO at Brookfield Properties’ retail group, and is on the executive board and board of trustees for the International Council of Shopping Centers and the board of directors of Host Hotels & Resorts. (CNBC)
- It took 50 years, but the wait is now over for the Kansas City Chiefs after coming back from a 10-point deficit in the third quarter to beat the San Francisco 49ers at Super Bowl LIV at Hard Rock Stadium in Miami. The Chiefs, which last appeared in a Super Bowl in 1970, won their second Vince Lombardi Trophy in three Super Bowl appearances. (CNBC)
- Watch all the Super Bowl commercials right here (CNBC)
- Tom Brady’s cryptic tweet was just an ad for Hulu (CNBC)
STOCK FUTURES CURRENTLY:
LAST WEEK'S MARKET MAP:
TODAY'S MARKET MAP:
LAST WEEK'S S&P SECTORS:
TODAY'S S&P SECTORS:
TODAY'S ECONOMIC CALENDAR:
THIS WEEK'S ECONOMIC CALENDAR:
THIS WEEK'S UPCOMING IPO'S:
THIS WEEK'S EARNINGS CALENDAR:
($DIS $GOOGL $SNAP $TWTR $ABBV $F $QCOM $UBER $SYY $SPOT $ON $PINS $TWLO $BMY $CMG $IRBT $CHKP $MRK $CNC $SNE $SIRI $GM $GILD $PTON $BP $ABG $LITE $WYNN $ATVI $CTLT $NSSC $ACM $GOOS $SAIA $DSPG $RACE $RCL $COP $AMG $RL $PLUS $NXPI $MCK $CI)
THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:
($SYY $ON $CHKP $ABG $CTLT $SAIA $ACM $DSPG $NSSC $AMG $PINE $LUB)
THIS AFTERNOON'S POST-MARKET EARNINGS CALENDAR:
([CLICK HERE FOR THIS AFTERNOON'S EARNINGS CALENDAR!]())
EARNINGS RELEASES BEFORE THE OPEN TODAY:
EARNINGS RELEASES AFTER THE CLOSE TODAY:
FRIDAY'S ANALYST UPGRADES/DOWNGRADES:
FRIDAY'S INSIDER TRADING FILINGS:
TODAY'S DIVIDEND CALENDAR:
THIS MORNING'S MOST ACTIVE TRENDING TICKERS:
THIS MORNING'S STOCK NEWS MOVERS:
Las Vegas Sands (LVS), Wynn Resorts (WYNN) – These will be among casino stocks on watch, on news that gambling revenue in Macao fell a worse-than-expected 11.3% amid the spread of the coronavirus.
STOCK SYMBOL: LVS
STOCK SYMBOL: WYNN
Delta Air Lines (DAL), American Airlines (AAL), United Airlines (UAL) – These and other airline stocks will also be in the spotlight, as new restrictions on travel to and from China are implemented.
STOCK SYMBOL: DAL
STOCK SYMBOL: AAL
STOCK SYMBOL: UAL
Apple (AAPL) – Apple shut down all its stores and corporate offices in mainland China due to the coronavirus. The closure is scheduled to last until Feb. 9.
STOCK SYMBOL: AAPL
Aimmune Therapeutics (AIMT) – The drugmaker received Food and Drug Administration approval for the first-ever treatment for peanut allergies.
STOCK SYMBOL: AIMT
Check Point Software (CHKP) – Check Point reported quarterly profit of $2.02 per share, 3 cents a share above estimates. The cybersecurity company’s revenue also beat Street forecasts, boosted by an increase in subscriptions.
STOCK SYMBOL: CHKP
Boeing (BA) – Boeing faces a new obstacle in getting the grounded 737 Max back in service, according to The Wall Street Journal. The paper quotes people familiar with the matter as saying that European regulators want what they regard as potentially hazardous wiring relocated to avoid short circuits.
STOCK SYMBOL: BA
Verizon (VZ) – Verizon was downgraded to “neutral” from “outperform” at Credit Suisse, which said the stock lacks positive near-term catalysts. Credit Suisse feels positive influences for the stock are weighted toward the back half of the year, ahead of the mass market launch of 5G service.
STOCK SYMBOL: VZ
Seagate Technology (STX) – Seagate was upgraded to “buy” from “hold” at Stifel Nicolaus, pointing to improving fundamentals for the disk drive maker.
STOCK SYMBOL: STX
Nike (NKE) – The athletic footwear and apparel maker’s stock was added to the “Analyst Focus List” at J.P. Morgan Chase, which sees a recent pullback as a buying opportunity. J.P. Morgan points to Nike’s innovation and product pipeline.
STOCK SYMBOL: NKE
Uber (UBER) – Uber was added to the “Best Ideas” list at Wedbush, which feels the ride-hailing service has laid the groundwork for growth, especially amid the streamlining of the Uber Eats operation.
STOCK SYMBOL: UBER
Northrop Grumman (NOC) – The defense contractor’s stock received a double downgrade at Goldman Sachs, which pushed its rating to “sell” from “buy.” Goldman said the company’s organic revenue growth is slower than that of its peers and that profit margins are compressing.
STOCK SYMBOL: NOC
/u/bigbear0083 has no positions in any stocks mentioned. Reddit, moderators, and the author do not advise making investment decisions based on discussion in these posts. Analysis is not subject to validation and users take action at their own risk. /u/bigbear0083 is an admin at the financial forums Stockaholics.net where this content was originally posted.
What is on everyone's radar for today's trading day ahead here at r/StockMarket?
I hope you all have an excellent trading day ahead today on this Monday, February 3rd, 2020! 🙂