OP Wire 9/16 (OP – Lite)

By Steve

OP Wire Morning Market Update – 90 Minutes Before the Bell

Good morning, OptionsPlayers! Here’s your pre-market briefing for today, helping you start your trading day fully prepared.

Futures Muted Amid Fed Rate Decision Focus

U.S. stock futures are muted this morning as the market closely watches for the Federal Reserve’s decision on interest rates later this week. As of 01:51 ET, Dow futures were up by 24 points (0.1%), while S&P 500 futures were flat, and Nasdaq 100 futures slipped by 20 points (0.1%). The market is still uncertain whether the Fed will go for a 25 or 50 basis point cut, with recent data suggesting the decision could go either way.

Small-cap stocks led last week’s rally, with the Russell 2000 climbing 4.4%, largely benefiting from bets on lower borrowing costs. Traders should stay sharp today as more developments unfold on the rate front.

Boeing Strike Update

The Boeing strike involving over 30,000 workers continues, and union leaders suggest the work stoppage may persist for some time. The strike is hitting Boeing hard, with shares already down 37% year-to-date and falling 3.7% on Friday. This ongoing labor dispute, coupled with Boeing’s existing regulatory and production challenges, creates significant downside risk for the stock.

Disney and DirecTV End Content Blackout

Disney and DirecTV have finally reached a distribution agreement, restoring access to channels like ESPN and ABC for 11.3 million subscribers. The deal will likely boost sentiment around Disney as both companies finalize their new terms, including the ability for DirecTV to offer Disney’s streaming services. Disney could be a stock to watch today as this deal ends a weeks-long blackout.

Oil Prices Steady

Oil prices are relatively flat this morning as traders brace for the Fed’s rate decision. Brent crude is trading at $71.63 a barrel, while WTI crude is slightly up at $67.80. However, concerns remain about weaker demand from China after disappointing economic data. Keep an eye on energy stocks for any price shifts as the day unfolds.

👀 Apple analyst Ming-Chi Kuo today said demand for the iPhone 16 Pro and iPhone 16 Pro Max has been “lower than expected”

Today’s Key Upgrades & Downgrades (so far)

Upgrades:

Equinor (EQNR) upgraded by Berenberg from Sell to Hold
Bill (BILL) upgraded by Exane BNP Paribas from Neutral to Outperform
Legrand (LGRDY) upgraded by Deutsche Bank from Hold to Buy
Valeo (VLEEY) upgraded by BofA from Neutral to Buy
Diageo (DEO) upgraded by BofA from Neutral to Buy
Husqvarna (HSQVY) upgraded by Pareto from Hold to Buy

Downgrades:

Simon Property (SPG) downgraded by Stifel from Buy to Hold
Micron (MU) downgraded by Exane BNP Paribas from Outperform to Underperform
Dollarama (DLMAF) downgraded by Wells Fargo from Overweight to Equal Weight
Interpublic Group (IPG) downgraded by UBS from Neutral to Sell

Stay tuned to OP chat for live updates on further upgrades and downgrades throughout the trading day. Let’s stack those gains!

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OP Wire 9/16 (OP – Lite)

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