Dow Futures rallies as blue chip earnings pour in


Dow Futures Are Up Triple Digit

It’s a mixed day for the markets this morning. Dow Jones Industrial Average (DJI) the future is about to expand yesterday’s gathering, S&P 500 Index (SPX) futures contracts contemplate more modest gains, and futures contracts on the Nasdaq-100 Index (NDX) have dropped slightly. Several blue chips, including Coca-Cola (KO) and Verizon Communications (VZ), have released impressive quarterly earnings reports, although Netflix (NFLX) was not so lucky. The FAANG name has announced disappointing subscriber forecasts, pushing pre-market stock down and keeping a lid on the technology. Meanwhile, the 10-year Treasury yield is slightly higher, last seen at 1.23%.

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

  • Rocky White, senior quantitative analyst at Schaeffer, goes down market width.
  • the bank stocks it’s ready for a rebound.
  • In addition, the JNJ hiking forecasts; CMG leaps on revenue growth; and SAP sees the bright days to come.

futures chart July 21

5 things you need to know today

  1. the Cboe Options Exchange (CBOE) saw more than 1.5 million purchase contracts traded on Tuesday, up from 705,388 sales contracts. The single-session put / call ratio fell to 0.44 and the 21-day moving average remained at 0.49.
  2. Johnson & Johnson (NYSE: JNJ) share is up 1% in e-commerce after the pharmaceutical giant posted second-quarter earnings and earnings that exceeded analysts’ estimates. The company also raised its earnings outlook, noting strong sales of drugs and medical devices. JNJ is up 7% in 2021.
  3. Chipotle Mexican Grill, Inc. (NYSE: CMG) the stock is up 4.7% ahead of the bell, up on revenue growth for its second quarter, which topped analysts’ estimates, although its earnings fell below expectations. The company’s comparable sales also exceeded expectations, with a return to indoor dining room. CMG is 35% year-on-year.
  4. SAP SE (NYSE: SAP) the stock is down 4.4% in pre-market trading, even after the tech company raised its outlook for the second time in 2021, citing its success in helping customers move their IT operations to the cloud . SAP is up 9.3% year-to-date.
  5. the economic calendar seems naked today, with no relevant dataset to come out.

OV Futures Chart July 21

Strong earnings boost European markets

Asian markets were now mixed. China’s Shanghai Composite led the winners with a pop of 0.7%, while Japan’s Nikkei followed with a gain of 0.6%. Japanese exports increased 48.6% year-on-year in June, which is above the 46.2% expected. Meanwhile, the South Korean Kospi lost 0.5% and the Hong Kong Hang Seng lost 0.1%.

European markets are up by noon, with the help of strong quarterly earnings reports, particularly from UK names Next and Future. London’s FTSE 100 is up 1.5% at last check, the French CAC 40 is up 1.2% and the German DAX is up 0.7%, despite the fact that the German software giant SAP indicated a decline after its quarterly report.

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