US Markets

• S&P 500 Futures +11 Points
• 10-Year Treasury 1.85%
• Dollar Index 97.49
• VIX 12.76
• Oil $58.96

International

• Japan +0.47%
• Shanghai +0.75%
• HK 1.11%
• Kospi +1.04%
• UK +0.41%
• Germany -0.01%

Stocks are looking to open higher on January 13, with the S&P 500 futures rising by about 40 basis points. It is following a strong trading session across Europe and Asia. Currently, the futures are trading around 3,277 and would need to rise to above 3,288 to take out Friday’s highs. Again, nothing much has changed for the S&P 500 over the past several trading sessions, with the market continuing to trend higher.

Russell 

We will want to watch the small-caps today and see if they can finally participate in a rally.

Tesla (TSLA) 

Tesla is rising this morning after Opco raised its price target on the stock to $612 from $385. The stock’s next level of resistance comes around $508. 

Beyond Meat (BYND)

Beyond Meat continues to rise, and is trading up to around $102. At this point, the gap is completely filled at $100 to $102.

Netflix (NFLX) 

Netflix is getting some positive commentary today from Piper Sandler, which noted that they see upside to the domestic and international subscriber results, above the consensus. It seems like the market has been playing it cautiously with Netflix this quarter despite several positive notes from the sell-side. The stock really needs to find a bounce today and get back above $336, otherwise, I think the trend is lower to $332 or $315 moving into results next week. 

Splunk (SPLK) 

Splunk received a price target boost today at UBS, going to $176 from $158. The next level of resistance for the stock comes around $161. 

AMD (AMD) 

AMD is rising this morning, and the stock has been consolidating nicely around $48.50 and appears to be forming a bullish triangle pattern as it gets ready to push higher towards $59. 

Have a great day