Dow Jones Industrial Average Futures Up on Booming Oil Prices

The $1.1 Million Bearish Coal Bet

Karee Venema

Mar 11, 2016 at 9:03 AM

Stocks are signaling another strong start, with futures on the Dow Jones Industrial Average (DJIA) surging in electronic trading. Helping boost Dow futures above fair value are booming oil prices, with April-dated crude futures 2% higher at $38.78 per barrel, after the International Energy Agency (IEA) said "there are signs that prices might have bottomed out" for crude oil. Additionally, stocks are reassessing Thursday's big stimulus move by the European Central Bank (ECB). Against this backdrop, Dow futures are trading more than 100 points above fair value, with the Dow taking aim at a fourth consecutive weekly win.

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

How one option bear threw down $1.1 million to call Peabody Energy Corporation's (NYSE:BTU) bluff.
What sent these 2 energy stocks on wild rides?
Alphabet Inc (NASDAQ:GOOGL) is under investigation, but option traders don't seem to mind.
Plus... global stocks rally, Ulta is set to soar, and FXCM gets smacked.

160311ovfutures

Futures on the Dow Jones Industrial Average (DJIA) are nearly 140 points above fair value.

5 Things You Need to Know Today

Global stocks reacted positively to the ECB's surprise stimulus decision, as well as rising crude futures.
The Chicago Board Options Exchange (CBOE) saw 608,375 call contracts traded on Thursday, compared to 447,734 put contracts. The resultant single-session equity put/call ratio rose to 0.74, while the 21-day moving average remained at 0.71.
It's been a big week on the earnings front, and shares of Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ:ULTA) are up 14% in electronic trading following the retailer's results. Specifically, ULTA reported fourth-quarter profit of $1.69 per share on $1.27 billion in sales -- both above consensus estimates -- and offered up a stronger-than-forecast current-quarter revenue outlook. What's more, the results were met with no fewer than seven price-target hikes.
Shares of FXCM Inc (NYSE:FXCM) are bracing for a 15% plunge out of the gate, after the forex broker said fourth-quarter revenue fell roughly 34% and that it has amended its credit agreement with Leucadia National Corp. (NYSE:LUK).
After Warren Buffett recently weighed in on American Express Company (NYSE:AXP), the company reaffirmed its financial forecast for this year and next. Additionally, AXP said it plans to address recent revenue challenges by focusing on existing customers and expanding its merchant base. Shares of AXP are little changed on the news, though, after settling last night at $58.75.

160311OV_Buzz

Earnings and Economic Data

Import and export prices are all alone on today's economic schedule, while earnings from Lifetime Brands (LCUT) are due out. To see what is on next week's agenda, click here.

Follow @Schaeffers

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.