Dow Jones Industrial Average Futures Higher as Crude Climbs

The Critical Zones for SPY and VIX This Week

May 10, 2016 at 9:08 AM

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Dow Jones Industrial Average (DJIA) futures are above fair value again this morning, as stocks look to erase Monday's losses. Traders are digesting the latest earnings reports and keeping an eye on recovering oil prices. The June contract for crude oil was last seen up 0.9% at $43.83 per barrel. Investors are also awaiting the Labor Department's Job Openings and Labor Turnover Survey (JOLTS), due later this morning.

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

The critical zones for SPY and VIX this week, per Schaeffer's Senior VP of Research Todd Salamone.
The box-office hit rewarding Walt Disney Co (NYSE:DIS) call buyers ahead of earnings.
3 steel stocks that took a hit on disappointing data out of China.
Plus... Yen talk boosts Japan, SolarCity earnings disappoint, and Lumber Liquidators can't shake consumer doubts.

Dow Futures May 10

Futures on the Dow Jones Industrial Average (DJIA) are 75 points above fair value.

5 Things You Need to Know Today

Stocks in Japan closed higher on promises from Taro Aso to intervene in the currency markets.
The Chicago Board Options Exchange (CBOE) saw 617,936 call contracts traded on Monday, compared to 530,665 put contracts. The resultant single-session equity put/call ratio slid to 0.86, while the 21-day moving average edged up to 0.72.
SolarCity Corp (NASDAQ:SCTY) is getting clobbered in pre-market trading, last seen down 19.4%, after reporting a wider-than-expected first-quarter loss. The company also gave a dismal current-quarter outlook, prompting no fewer than six brokerage firms to lower their target prices on the stock so far this morning.
Also headed for a rough start today is Lumber Liquidators Holdings Inc (NYSE:LL), which reported an adjusted quarterly loss of 74 cents per share -- significantly larger than analysts' estimates. The stock, seated 10% lower ahead of the bell, has been struggling for more than a year amid consumer concerns over the safety of the company's wood flooring.
Gap Inc (NYSE:GPS) is sliding 11.6% before the open -- on pace to touch a new four-year low -- after giving a disappointing forecast for first-quarter sales, and receiving a round of bearish brokerage notes. The company attributed the decline to weak demand for Old Navy and Banana Republic brands.

Buzz Stocks May 10

Earnings and Economic Data

On the earnings slate today are Walt Disney (DIS), Allergan (AGN), Ariad Pharmaceuticals (ARIA), Crocs (CROX), Electronic Arts (EA), Fuel Tech (FTEK), Fossil (FOSL), Kinross Gold (KGC), LL, Nokia (NOK), Plug Power (PLUG), and World Wrestling Entertainment (WWE). To see what else is coming up on this week's schedule, click here.

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