From “Dow Jones Futures Rise, E-Commerce Giant Blasts Higher In Coronavirus Stock Market Rally” posted early Wednesday on Investor’s Business Daily:
Dow Jones futures rose solidly Wednesday, along with S&P 500 futures and Nasdaq futures, as Walt Disney (DIS), Beyond Meat (BYND) and MercadoLibre (MELI) were among the many earnings reports overnight after the coronavirus stock market rally continued to advance.
Dow Jones futures rose 0.95% vs. fair value, with Disney stock a modest drag. S&P 500 futures advanced 0.9%. Nasdaq 100 futures climbed 1%. No longer surging limit up or down, Dow Jones futures can still be volatile in overnight trading.
Shopify earnings are before the open, with analysts expecting the e-commerce software leader will report a loss amid heavy investments.
Remember that overnight action in Dow futures, MercadoLibre and elsewhere doesn’t necessarily translate into actual trading in the next regular stock market session.
My take: True that.