Dow futures up almost 100 points after J&J shares pop on split news

Dow futures up almost 100 points after J&J shares pop on split news

November 15, 2021: -On the Morning, Stock futures moved slightly higher as Wall Street looked to end the week on a positive note after a historic inflation report. Futures contracts tied to the Dow Jones Industrial Average rose about 90 points. S&P 500 futures added 0.2% and Nasdaq 100 futures made 0.2%.

Dow component Johnson & Johnson saw its shares pop nearly 3% in premarket trading following a Wall Street Journal report that the company is splitting in two. Johnson & Johnson is reportedly breaking off its consumer health division into a separate publicly-traded company.

On Wednesday, the move-in futures comes after the stock market appears to have withstood the hottest inflation report in 30 years. The major indexes are on track to snap five-week winning streaks but are still within striking distance of their recent record

ed Randy Frederick, managing director of trading and derivatives for the Schwab Center for Financial Research, said that year by year comparisons to an abnormal 2020 and rising wages may be flexible the reaction to the inflation report.

“Big numbers get big headlines, and yes, prices are higher, but you’ve also got wage increases that are just about to the same amount as inflation is. So inflation is real, but the impact isn’t as severe as people think,” Frederick said.

The latest complication from economic data that investors have sorted through in recent weeks was the inflation report, with some professional investors looking optimistically toward 2022.

“We’ve probably reached maximum supply chain disruption, and I think the labor market is going to free up a bit as we saw with the jobs report last Friday,” said Brent Schutte, the chief investment strategist at Northwestern Mutual.

This week has seen more dramatic action in the bond market, where the inflation report led to a sharp reversal from the recent decline in the 10-year Treasury yield on Wednesday. The bond market was closed on Thursday for Veterans Day.

On Thursday, the tech-heavy Nasdaq Composite rose 0.5%, while the S&P 500 edged slightly higher. The Dow dropped nearly 160 points, dragged down by Disney’s post-earnings slide.

The Dow is down 1.1% for the week through Thursday, while the S&P 500 and Nasdaq are down 1% and 1.7%, respectively.

Editor's Choice

Posts You Might Like

A Resilient & Innovative Leader | Maushum Basu

Maushum Basu is a visionary leader who inspires his team with a clear, compelling purpose. Unafraid to take calculated risks, he understands that growth often stems from change and innovation. His deep commitment to both Airia Brands, Inc.

Directing with Courage & Precision | Martin Paquette

When speaking with Martin Paquette, one thing is immediately apparent: he’s honest. His transparency is refreshing. While many shy away from such vulnerability, Paquette sees it as a force to reckon with. The incredible emotional intelligence speaks to years of looking within—it’s also what allows him to acknowledge his mistakes gracefully and use them as opportunities to innovate.

An Innovative Thinker | Marina Charriere

Marina Charriere, CEO of Star Drug Testing Services, Star Drug Testing Services (Windsor Park), and First Defence Face Masks go hand in hand. Star is a drug and alcohol testing facility, and First D F M is a face mask company.

A Pioneer of Food Technology | Lejjy Gafour

Lejjy Gafour, CEO, CULT Food Science Corp. Lejjy is a self-taught entrepreneur and experienced company operator who made his start creating opportunities at the young age of 14, and he has been working, leading, and building businesses ever since.

The-corporate-magazine-15

Leave us a message

Subscribe

Fill the form our team will contact you

Advertise with us

Fill the form our team will contact you​