2 months (10/18) Monday’s Pre-Market Stock Movers & News Reddit    

Good Monday morning traders and investors of the r/StockMarket sub! Welcome to the new trading week and a fresh start! Here are your pre-market stock movers & news on this Monday, October 18th, 2021-


5 things to know before the stock market opens Monday


1. Wall Street set to start the week lower after Friday’s rally

  • Dow futures dropped nearly 150 points Monday ahead of a busy week for corporate earnings against the backdrop of increasing U.S. oil prices and a tick-up in bond yields. The Dow Jones Industrial Average, the S&P 500 and the Nasdaq rallied Friday and for all of last week.
  • The Dow was less than 1% from its Aug. 16 record close. The S&P 500 was nearly 1.5% away from its Sept. 2 record close. The Nasdaq was 3.1% from its Sept. 7 record close.
  • The flood of earnings takes a pause Monday but picks back up Tuesday with Netflix, Johnson & Johnson, United Airlines and Procter & Gamble reporting.
  • So far, 41 S&P 500 companies have delivered third-quarter results, with 80% of them topping EPS expectations, according to data from FactSet.
  • Taking into account those already out and estimates for the rest, third-quarter profit growth would total 30%, the third-highest quarterly profit growth rate for S&P 500 firms since 2010, according to FactSet.

2. WTI tops $83 per barrel; bond yields move higher

  • U.S. oil prices, as measured by West Texas Intermediate crude, jumped another 1%, topping $83 per barrel, their highest level since October 2014. Behind the march higher are continued recovering demand as Covid-depressed business activity picks up, and as high natural gas and coal prices encourage a switch to fuel oil and diesel for power generation. WTI was already up three straight sessions and surged 3.7% last week for its eighth positive week in a row, the best weekly winning streak May 2015.

  • The 10-year Treasury yield started the week moving back up toward 1.62%. Before topping those levels earlier this month, the last time it was that high was in June. The 10-year yield, which moves inversely to price, was boosted Friday after data showed that U.S. retail sales rose by 0.7% in September, versus an expected decline of 0.2%. Industrial production figures for September are out at 9:15 a.m. ET, with estimates calling for a 0.2% increase following a 0.4% jump in August.


3. China GDP disappoints, third-quarter growth slows to 4.9%

  • China’s third-quarter gross domestic product grew a disappointing 4.9% from a year ago as industrial activity in the world’s second-largest economy rose less than expected in September.

  • Many factories had to stop production in late September as a surge in the price of coal and a shortage of electricity prompted local authorities to abruptly cut off power. The struggles of giant developer China Evergrande came to the forefront in August. Real estate and related industries account for about a quarter of China’s GDP, according to Moody’s estimates.


4. Bitcoin inches toward all-time highs on bitcoin ETF optimism

  • Bitcoin crept close to its April all-time highs near $65,000, rising about 1.5% on Monday to more than $61,000. The world’s biggest digital currency hit a six-month high above $60,000 on Friday. Traders are optimistic the SEC won’t stand in the way of the first bitcoin futures exchange-traded fund, which would begin trading Tuesday unless regulators stepped in. Approval of an ETF that gives mainstream investors exposure to bitcoin would be a landmark for the crypto industry. After April’s record, bitcoin, known for its volatility, slumped and even traded below $29,000 in June before recovering.

5. Apple likely to finish transforming its MacBook lineup

  • Apple is holding a launch event Monday to announce new products, likely including a redesigned MacBook Pro. The company has a chance to drive continued momentum to its Macs ahead of the holiday shopping season, especially since it’s expected to announce more computers that run on its own chips instead of Intel’s processors. Last month, Apple announced and subsequently released new iPhones, iPads and Apple Watches, leaving Macs as the remaining major product line that hasn’t been updated this fall. Apple is also likely to provide a release date for macOS Monterey, the latest version of Mac software, which was announced in June but has not yet been officially released.

STOCK FUTURES CURRENTLY:

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LAST WEEK'S MARKET MAP:

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TODAY'S MARKET MAP:

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LAST WEEK'S S&P SECTORS:

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TODAY'S S&P SECTORS:

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TODAY'S ECONOMIC CALENDAR:

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THIS WEEK'S ECONOMIC CALENDAR:

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THIS WEEK'S UPCOMING IPO'S:

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THIS WEEK'S EARNINGS CALENDAR:

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THIS MORNING'S PRE-MARKET EARNINGS CALENDAR:

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EARNINGS RELEASES BEFORE THE OPEN TODAY:

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EARNINGS RELEASES AFTER THE CLOSE TODAY:

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FRIDAY'S ANALYST UPGRADES/DOWNGRADES:

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FRIDAY'S INSIDER TRADING FILINGS:

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TODAY'S DIVIDEND CALENDAR:

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THIS MORNING'S MOST ACTIVE TRENDING TICKERS ON STOCKTWITS:

  • MNKD
  • FCEL
  • OCGN
  • DOGE.X
  • HITI
  • OYST
  • UPST
  • Z
  • CKB.X

THIS MORNING'S STOCK NEWS MOVERS:

(source: cnbc.com)

Zillow (Z) – Zillow slid 6.4% in premarket trading, following a Bloomberg report that the company has temporarily stopped its home-buying service due to overwhelming demand.

STOCK SYMBOL: Z

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Revance Therapeutics (RVNC) – Revance shares plunged 33.2% in the premarket after the Food and Drug Administration declined to approve an injectable treatment for facial lines, noting deficiencies following the FDA’s inspection of manufacturing facilities. The company said no other concerns were raised in the FDA’s response. The treatment is seen as a possible competitor to the best-selling treatment Botox.

STOCK SYMBOL: RVNC

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Walt Disney (DIS) – Disney lost 1.8% in the premarket after Barclays downgraded the stock to “equal weight” from “overweight,” citing concerns about a significant slowdown in growth for the Disney+ streaming service.

STOCK SYMBOL: DIS

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Albertsons (ACI) – The supermarket operator earned 64 cents per share for its latest quarter, beating the 45 cents a share consensus estimate. Revenue also topped Wall Street forecasts. Albertsons increased its quarterly dividend by 20% to 12 cents per share. Its shares jumped 3.6% in premarket action.

STOCK SYMBOL: ACI

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Netflix (NFLX) – Netflix estimates the value of its hit series “Squid Game” at nearly $900 million, according to an internal document seen by Bloomberg. The series cost just $21.4 million to produce.

STOCK SYMBOL: NFLX

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Philips (PHG) – Philips reported lower-than-expected sales for the third quarter, and the Dutch medical technology company lowered its sales and profit outlook for the full year. Philips is taking a hard hit from a respirator recall and a global shortage of electronic components. Its shares fell 2.1% in the premarket.

STOCK SYMBOL: PHG

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Stellantis (STLA) – Stellantis is forming a joint venture with South Korean battery maker LG Energy Solution to produce batteries and components for the North American market. The batteries will be produced at the automaker’s plants in the U.S., Canada and Mexico. Stellantis shares slid 1% in premarket trading.

STOCK SYMBOL: STLA

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Goldman Sachs (GS) – Goldman received approval from China regulators to take full ownership of a local securities unit. Goldman did not disclose how much it paid for the 49% it did not own in the business that it has co-owned since 2004.

STOCK SYMBOL: GS

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Biogen (BIIB) – The drugmaker said a late-stage trial of an experiment ALS treatment did not reach its primary goal, but noted favorable trends in other measures of progress toward treating the fatal disease. Its shares lost 1% in premarket action.

STOCK SYMBOL: BIIB

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Southwest Airlines (LUV) – Southwest asked a federal court to reject an effort by its pilots to block the airline from enforcing a Covid vaccine mandate. The pilots union said Southwest changed work rules unilaterally without negotiating first.

STOCK SYMBOL: LUV

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NetApp (NTAP) – NetApp was downgraded to “sell” from “neutral” at Goldman Sachs, which cites the 2022 IT spending environment. It also cut its price target for the cloud computing company’s stock to $81 per share from $85. NetApp shares fell 2.2% in premarket trading.

STOCK SYMBOL: NTAP

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FULL DISCLOSURE:

/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.


DISCUSS!

What's 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, October 18th, 2021! 🙂

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