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Stock Market Today: Dow Jones Futures Drop After Friday's Record Close—STMicroelectronics, Kroger, FedEx In Focus
Transcript
00:08All right. Futures up off the lows ahead of Monday's open here. They're actually still
00:15under pressure and down, but near unchanged. And again, up off the lows. S&P futures down 0.01%,
00:23basically at unchanged now after being down earlier. Dow futures down 0.03% and the NASDAQ
00:30leading the way lower at 0.1%. Now, let's take a look at some cues from last session here.
00:37Industrials, energy and information technology stocks led the S&P 500 gains on Friday,
00:44though consumer discretionary and communication services sectors closed lower against the trend.
00:49We had a pretty huge bump on Friday. You want to call that maybe short covering into the weekend
00:55after the bears won the week prior. Let's see if we get any follow through here today. Again,
01:02a little bit weaker in the pre-market, but coming up off of those lows now. The decline follows a
01:07positive close across the indices in Asia with the Nikkei 225 breaking the 57,000 point barrier for
01:15the first time, which was fueled by Prime Minister Senni Takayashi's landslide election victory and a
01:22high profile endorsement from President Trump. Investors will be on the lookout for a slew of
01:28economic data that will be released this week, along with earnings from Coca-Cola, McDonald's,
01:33Ford and T-Mobile. And in fact, there's going to be some more and we'll take a look at those
01:38as the
01:39show goes on here. Meanwhile, the 10-year Treasury bond yielded 4.22 percent and the two-year bond was
01:45at 3.5 percent. The CME Group's Fed watch tool projections show that the market is still pricing
01:51in an 84.2 percent chance of a hold at the next meeting, which is in fact in March. Now,
02:00we do have
02:01several stocks in focus here to get you started on this Monday. The first one is going to be strategy
02:06and the ticker here is MSTR. It continued its drop falling 3.65 percent in the pre-market on Monday
02:13following its earnings last week. It did bounce, but it's down here today. It reported a massive
02:18$12.4 billion net loss driven by mark-to-market Bitcoin declines, which were far worse than
02:26expectations and contributed to heavy stock selling. The question is, is that over? The next stock on our
02:33list here is going to be STM Microelectronics and the ticker here is an easy one. It's STM. It jumped
02:405.93 percent after securing a multi-billion dollar deal with Amazon's cloud computing arm, Amazon Web
02:48Services. The next stock on our list here is going to be FedEx and that that's ticker FDX and it
02:54rose
02:540.47 percent after a consortium led by it and Advent announces plans to buy in post for 7.8
03:02billion
03:02euro or 9.254 billion USD. The next stock on our list here is going to be Kroger. The ticker
03:10here is
03:10KR. Kroger gained 5.33 percent on news that it is considering former Walmart executive Greg Ferran as its
03:19next chief executive officer. So maybe stealing some C-suite talent there from Walmart or Kroger.
03:25The last stock on our list is going to be on Semiconductor. The ticker here is ON and it fell
03:311.38 percent as analysts expected to post quarterly earnings at 62 cents per share on revenue of 1.54
03:38billion after the closing bell today.
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