markets

Jack Raines10/17/24

Courting more advanced traders, Robinhood adds futures, index options, and a desktop presence

To kick off Robinhood’s HOOD Summit yesterday, the trading platform’s founder and CEO, Vlad Tenev, announced several new products and features. The big takeaway: the retail brokerage wants to cater to advanced traders as much as the retail investors that have long been its core customer group.

(Sherwood Media is an editorially independent subsidiary of Robinhood Markets Inc.)

Robinhood will now offer futures contracts on indexes, currencies, and commodities, with crypto futures coming soon. However, the biggest update coming to the fintech company is "Robinhood Legend,” its new browser-based trading platform for desktop users.

The new trading platform, which is available to customers immediately, comes with dozens of settings and allows users to open as many as eight charts in a single window.

While Robinhood got its start helping retail investors buy their first stocks in its app, the now 11-year-old fintech is looking to compete with incumbents such as Interactive Brokers and Charles Schwab by offering a compelling platform for its advanced traders. The moves appear to be a salvo at Schwab’s thinkorswim trading platform.

Robinhood Plans to Give Traders Access to Futures, Index Options

Robinhood Plans to Give Traders Access to Futures, Index Options

(Sherwood Media is an editorially independent subsidiary of Robinhood Markets Inc.)

Robinhood will now offer futures contracts on indexes, currencies, and commodities, with crypto futures coming soon. However, the biggest update coming to the fintech company is "Robinhood Legend,” its new browser-based trading platform for desktop users.

The new trading platform, which is available to customers immediately, comes with dozens of settings and allows users to open as many as eight charts in a single window.

While Robinhood got its start helping retail investors buy their first stocks in its app, the now 11-year-old fintech is looking to compete with incumbents such as Interactive Brokers and Charles Schwab by offering a compelling platform for its advanced traders. The moves appear to be a salvo at Schwab’s thinkorswim trading platform.

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J. Edward Moreno19m

Levi Strauss jumps after raising full-year guidance, reporting earnings beat

Levi Strauss rose more than 11% in premarket trading after it beat earnings expectations and raised its full-year guidance.

For its fiscal year 2026, which ends December 1st, the apparel giant now expects to report:

Revenue growth between 5.5% to 6.5%, up from 5% to 6%. Analysts polled by FactSet are penciling in about 6.21% sales growth.
Adjusted earnings per share between $1.42 to $1.48, up from $1.40 to $1.46, but still a hair below the $1.49 the Street was expecting.

The company also beat expectations for its first quarter, which ended March 1. It reported:

Quarterly adjusted earnings per share of $0.42, versus $0.37 expected.
Revenue of $1.74 billion, more than 5% ahead of the $1.65 billion that was expected, with direct-to-consumer sales making up the majority of its revenue stream for the quarter.

The stock is up nearly 11% as of 6:35 a.m. ET, having shed roughly ~5% from the start of the year to yesterday's close.

markets

Oil plummets on two-week ceasefire announcement, dragging energy stocks lower

Oil prices are sharply lower Wednesday morning, extending their biggest single-day drop in six years after President Trump announced a two-week ceasefire with Iran that includes reopening the Strait of Hormuz, through which about a fifth of global oil supply flows.

As of 5:10 a.m. ET, international benchmark Brent crude was down 13.6% at around $94 per barrel, while US WTI crude fell ~16% to $95 per barrel — following its steepest one-day decline since the Russia-Saudi price war in March 2020 and extending the overnight selloff.

A slew of energy stocks are also giving back some of their war-driven gains, with oil-and-gas producers including Occidental Petroleum, Devon Energy, Diamondback Energy, ConocoPhillips, APA Corporation, Coterra Energy, and EOG Resources all down 6-9% in premarket trading.

Oil majors Exxon and Chevron both fell more than 5%, while fuel refiners including Marathon Petroleum, Valero, and Phillips 66 moved 4-6% lower.

Oilfield services names like Halliburton and natural gas producer EQT Corp fell 4-5%, while Chemical makers Dow, Inc. and LyondellBasell, along with fertilizer company CF Industries, are also trading lower. Natural gas exporter Cheniere Energy was also deeply in the red.

Futures surge, oil tumbles after President Trump agrees to two-week ceasefire

S&P 500 futures rose 2%, WTI futures tumbled double digits.

President Trump Addresses The Nation On The Conflict In Iran

Tasha Matsumoto

Stocks eke out gain ahead of tonight’s deadline for Iran to reopen the Strait of Hormuz

Traders were jittery ahead of the looming deadline, while President Trump posted on Truth Social that “a whole civilization will die tonight” if an agreement is not reached.

Bull with Nose Ring

Anthropic is releasing its new model to select companies to get a head start on cyber defense

Fortune reported that the Claude developer would be doing this in late March.

Co-founder and CEO of Anthropic, Dario Amodei

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Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, Robinhood Derivatives, LLC, or Robinhood Money, LLC. Futures and event contracts are offered through Robinhood Derivatives, LLC.

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