Stock Futures Await Jobs Data with Uncertainty
Dec 3, 2024 at 2:12 PM
The Cboe Options Exchange witnessed a significant exchange of call and put contracts on Monday. Over 1.9 million call contracts and more than 1.2 million put contracts were traded, with the single-session equity put/call ratio rising to 0.62 and the 21-day moving average remaining at 0.62. This indicates the volatility and uncertainty in the market.
Deutsche Bank's Upgrade of CVS Health Corp
This morning, Deutsche Bank upgraded CVS Health Corp (NYSE:CVS) stock from "hold" to "buy". The analyst covering the embattled pharmacy retailer is betting on a recovery. CVS is currently up 1.1% in premarket trading, but it still carries a steep 25.2% year-to-date deficit. This upgrade could potentially attract more investors and have a positive impact on the stock's performance.Zscaler Inc's Earnings and Market Reaction
The shares of Zscaler Inc (NASDAQ:ZS) are 7.2% lower in electronic trading. Despite reporting better-than-expected fiscal first-quarter results and receiving several bull notes, the company's forecast for the fiscal second quarter missed estimates. This has led to a sell-off in the stock, and it is now looking to extend its 5.9% year-to-date deficit. The market's reaction to the earnings shows the importance of meeting or exceeding expectations.BlackRock Inc's Acquisition and Stock Performance
BlackRock Inc (NYSE:BLK) stock is up 1% before the bell. The investment company revealed an expansion to the credit space with its acquisition of HPS Investment Partners for $12 billion in stock. Over the past 12 months, BLK has added 34.9%, indicating the company's growth and success in the market. This acquisition is expected to further enhance BlackRock's capabilities and position in the industry.European Markets and Political Strife
Markets in Asia finished higher today, with South Korea's Kospi adding 1.9% after reporting a year-over-year inflation increase to 1.5% in November. The yuan in China fell below 7.3 for the first time since the summer, sending the Shanghai Composite 0.4% higher. Hong Kong's Hang Seng tacked on 1% and Japan's Nikkei climbed an impressive 1.9%. In Europe, despite political strife in France where Prime Minister Michel Barnier pushed for approval of a contested budget bill without parliament's say, stocks are also higher. In the U.K., retail sales showed a year-over-year drop of 3.3% in November, its weakest performance since April. At last glance, London's FTSE 100 is up 0.8%, France's CAC 40 has added 0.4%, and Germany's DAX is 0.2% in the black. This shows the resilience of European markets in the face of political uncertainties.