Stock futures rising with big tech, financials in focus

FAN Editor

Coming off one of the best weeks in months, stock futures continued to march higher on Monday morning, as earnings season gets set to kick off.

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Stock Futures Mixed, Tech Takes Lead

Nasdaq Composite futures were up nearly 2% early Monday, while the S&P500 was up 0.7%. Dow Jones Industrial Average futures were lagging, gaining less than 0.3%.

This builds off of Friday’s solid gains.

Ticker Security Last Change Change %
I:COMP NASDAQ COMPOSITE INDEX 11579.943624 +158.96 +1.39%
SP500 S&P 500 3477.13 +30.30 +0.88%
I:DJI DOW JONES AVERAGES 28586.9 +161.39 +0.57%

STIMULUS PROGRESS TURNS DOW POSITIVE FOR 2020, S&P, NASDAQ WIN BEST WEEK SINCE JULY

Economic news out of China also appeared to be helping sentiment, after the country returned from its eight-day Mid-Autumn festival that was aided by strong tourism and slowing coronavirus cases, Reuters reported.

EARNINGS SEASON

Ticker Security Last Change Change %
JPM JP MORGAN CHASE & CO. 101.20 -0.58 -0.57%
C CITIGROUP INC. 44.93 +0.21 +0.47%
BAC BANK OF AMERICA CORP. 25.36 +0.12 +0.48%

The major U.S. banks are set to kick-off earnings season this week, as JPMorgan Inc., Citigroup Inc. and Bank of America Corp. all report later this week.

SPOTLIGHT ON TECH

Ticker Security Last Change Change %
AMZN AMAZON.COM INC. 3,286.65 +96.10 +3.01%
AAPL APPLE INC. 116.97 +2.00 +1.74%

Two of the so-called FAANG big tech companies will also draw investor attention, as Amazon.com Inc. and Apple Inc. hold big events.

Starting Tuesday and continuing on Wednesday, Amazon will hold its “Prime Day” shopping extravaganza to kick off the holiday shopping season. The Jeff Bezos-led company does not reveal sales for the annual event, but some analysts are expecting close to $10 billion in sales over the two days.

On Tuesday, Apple is widely expected to unveil its 5G-enabled iPhone at an event in California.

Ticker Security Last Change Change %
TWLO TWILIO INC 306.24 +7.14 +2.39%

Twilio Inc. shares were rising nearly 5% after the company announced an all-stock acquisition of cloud customer data startup Segment for $3.2 billion.

Ticker Security Last Change Change %
TWTR TWITTER INC. 45.90 -0.11 -0.24%

Twitter Inc. shares were surging nearly 5% after Deutsche Bank upgraded the social network

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Ticker Security Last Change Change %
USO UNITED STATES OIL FUND L.P. 28.69 -0.45 -1.54%
GLD SPDR GOLD SHARES TRUST – EUR ACC 181.08 +3.23 +1.82%

West Texas Intermediate crude oil was falling on Monday, down more than 1% to $40.02 a barrel. Gold ticked up to $1,928.90 an ounce, a gain of 0.1%.

European stocks were also mostly higher, with the Stoxx Europe 600 gaining 0.4%. The German DAX, and French CAC 40 were both up 0.3%, but the FTSE 100 fell slightly.

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