📈 Futures higher after yesterday's drop, bank stocks bounce back
Here's what is happening in the markets today, Friday, July 9th:
- Wells Fargo (WFC) is shutting down all existing Personal Lines of Credit in the next few weeks and will no longer offer the product. WFC down 2.5% yesterday (in line with other bank losses) and now up 1.9% pre-market.
- Virgin Galactic (SPCE) jumped 17% yesterday ahead of Richard Branson's Virgin Galactic's spaceplane flight on Sunday. Options traders are betting on a +14.8% expected move looking at 7/16 options.
- Levi Strauss (LEVI) up 3.0% pre-market after a huge earnings beat reporting 23 cents EPS vs. 0.09 and a beat on revenue as well.
- General Motors (GM) up 3.0% pre-market after an analyst upgrade.
- Banks getting a boost from higher bond yields this morning. Bank of America (BAC) is up 1.6% and Citigroup is up 1.6% pre-market
- Travel stocks are making up some ground after yesterday's dip. American (AAL), Delta (DAL), and United (UAL) are all higher.
- Pfizer says it is developing a Covid booster shot with its partner BioNTech (BNTX) to target the highly contagious Delta variant.
- Virgin Galactic (SPCE) jumped 17% yesterday ahead of Richard Branson's Virgin Galactic's spaceplane flight on Sunday. Options traders are betting on a +14.8% expected move looking at 7/16 options.
- Levi Strauss (LEVI) up 3.0% pre-market after a huge earnings beat reporting 23 cents EPS vs. 0.09 and a beat on revenue as well.
- General Motors (GM) up 3.0% pre-market after an analyst upgrade.
- Banks getting a boost from higher bond yields this morning. Bank of America (BAC) is up 1.6% and Citigroup is up 1.6% pre-market
- Travel stocks are making up some ground after yesterday's dip. American (AAL), Delta (DAL), and United (UAL) are all higher.
- Pfizer says it is developing a Covid booster shot with its partner BioNTech (BNTX) to target the highly contagious Delta variant.