Stock Market Today: Dow Futures Rise, S&P 500 Slips After Breaking Below 6,550—New Fortress Energy, Gap, Intuit In Focus

Benzinga

U.S. stock futures swung between gains and losses on Friday after Thursday’s sharp sell-off. Futures of major benchmark indices were mixed.  The S&P 500 index dropped below Walter Murphy's support line of 6,550 on Thursday, just after it slipped below its 50-day moving average (DMA) for the first time in months on Monday.  Investors digested September’s hotter-than-expected job report, with non-farm payrolls rising by 119,000 in September, more than double the 50,000 economists had forecast, further trimming hopes for easing next month.

Transcript

00:00all right stock market futures here whipsawing in the pre-market prior to the open after

00:14yesterday's reversal and sell-off s&p futures up 0.34 percent dow futures up 0.54 percent and

00:22the nasdaq futures up 0.21 percent really this just depends on when you check it because there

00:28were multiple periods just this morning where it was where they were all in the red and then they've

00:33all gone back to the green and then back to the red and then back to the green again so we already

00:38have some whipsaw action uh before we even get the market open here today let's go ahead and take a

00:44look at some cues from last session information technology consumer discretionary and industrial

00:50stocks recorded the biggest losses on thursday as most s&p 500 sectors closed negatively although

00:57consumer staples was the only one to buck the trend and finish higher u.s stock futures swung

01:04between gains and losses on friday morning after thursday's sharp sell-off futures were mixed but as

01:10just mentioned in the green currently the s&p 500 index dropped below walter murphy's support line

01:1765 50 on thursday just after it slipped below its 50-day moving average for the first time in months

01:23on monday investors digested the hotter than expected jobs report with non-farm payrolls rising

01:29by 119 000 in september more than double the 50 000 economists had forecasted further trimming hopes

01:35for easing next month we also had a bunch of fed members talk about that after and it would sell off

01:41really seem to accelerate when those fed members were popping off meanwhile the 10-year treasury bond yielded

01:464.08 percent and the two-year bond was at 3.53 percent now we do have some stocks in focus here

01:53today the first one's going to be ticker nfe that's new fortress energy stock surge 19.86 percent in the

02:00pre-market on friday as it worked through debt reconstruction by extending credit agreements and

02:05removing liquidity requirements so some positive news and some green there this morning gap advanced

02:113.86 percent after reporting upbeat third quarter financial results and raising its fiscal year 25

02:17guidance above estimates i was thinking yesterday this is a rough day for companies to report earnings

02:23the first two that i took a look at were ross stores and gap and both of them were trading higher

02:27so it looks like those uh um uh stores there actually did all right uh with their earnings we'll see if

02:34they're able to hold up here today next stock on the list is elastic nv that's ticker estc that

02:41tumbled 12.21 percent despite posting positive solid earnings beat and offering strong guidance for

02:48the quarter and full year the next stock on our list here is viva systems that's ticker v ee v that

02:55dropped 6.69 percent despite posting upbeat results for the third quarter after thursday's closing bell

03:01it also raised its fiscal year earnings and revenue estimates to ranges above the analyst estimates

03:07last stock on our list here is intuit that rose 3.23 percent after reporting better than expected

03:13first quarter financial results its second quarter revenue growth of approximately 14 to 15 percent

03:19the company sees second quarter adjusted earnings in the range of 363 to 368 per share versus estimates

03:26of 383 per share

03:28of 383 per share

03:30of 383 per share

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