Resetting the Key SPX Levels to Watch

The major benchmarks are all pointed higher ahead of the open

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Schaeffer's Opening View
10/12/2021
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Dow Futures Cautiously Higher Ahead of Debt Ceiling Vote


By: Laura McCandless

Stock futures are inching higher this morning, as Wall Street looks to break out of its inflation-induced slump. Dow Jones Industrial Average (DJI) and Nasdaq-100 (NDX) futures are up 16 and 34 points, respectively, while S&P 500 (SPX) futures are marginally higher. Elsewhere, the House of Representatives is set to vote on the proposed short-term debt ceiling hike. Gold prices are looking to snap their three-day losing streak, while oil prices remain in focus, with November-dated crude futures aiming to hold above $80 per barrel.

Continue reading for more on today's market, including:

  • Why now is a good time to hedge long positions, says Schaeffer's Senior V.P. of Research Todd Salamone. 
  • The electric vehicle stock consistently seeing high options volume.   
  • Plus, biopharma name drops Covid-19 vaccine efforts; MGM upgraded; and GSK attracts buyout attention. 
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