Dow Futures Take a Breather After Santa Claus Rally
S&P 500 and Nasdaq futures are lower as well
Dow Jones Industrial Average (DJIA) futures are taking a breather this morning, last seen down triple digits after a Santa Claus rally arrived in time for Christmas Eve. S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are pointed lower as well, as the 10-year Treasury yield rises, earlier hitting its highest level since May. Traders have jobs data to unpack, with unemployment claims falling to a lower-than-expected 219,000 last week.
Continue reading for more on today’s market, including:
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 1.2 million call contracts and 614,931 put contracts exchanged on Tuesday. The single-session equity put/call ratio rose to 0.51 and the 21-day moving average remained at 0.61.
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The shares of Toyota Motor Corp (NYSE:TM) are up 9.1% in premarket trading, amid reports that the automaker has plans to double its return-on-equity objective. TM shed 28.5% in the last nine months.
- Piedmont Lithium Inc (NASDAQ:PLL) stock is up 2.2% ahead of the open, looking to extend its previous session’s gains, though what’s driving this positive price action remains unclear. PLL carries a 68.8% year-to-date deficit.
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RCI Hospitality Holdings Inc (NASDAQ:RICK) stock is 1.1% higher before the open. Shares are pacing for their third-straight gain, but still carry a 13.4% deficit for the year.
- Key economic indicators slated for release.
Asian Markets Respond to Japan’s Budget Plans
Japan’s Nikkei and China’s Shanghai Composite finished the day up 1.1% and 0.1%, respectively, while South Korea’s Kospi fell 0.4%, and Hong Kong markets remain closed. Japan is reportedly anticipating a budget of $735 billion for the fiscal year, sending the 10-year bond yield to 1.07% in response. Elsewhere, impeachment voting will take place in South Korea Friday, ignited by the country’s Democratic Party.
European markets are closed amid the Boxing Day and Christmas holidays.
