Dow Jones Industrial Average Eyes Negative Start, Weekly Win

5 Healthcare Stocks Catching Fire

Sep 11, 2015 at 9:03 AM
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The Dow Jones Industrial Average (DJIA) is pointed lower ahead of the bell, as traders tread carefully ahead of next week's Federal Open Market Committee (FOMC) meeting -- where officials are expected to consider their first interest rate hike in nearly a decade. Nonetheless, barring a drop of more than 228 points today -- which is possible, given the recent volatility witnessed on Wall Street -- the Dow will post a weekly win. On the economic front, traders are digesting a flat producer price index (PPI) reading, and awaiting consumer sentiment data as well as the Treasury budget.

 

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

 

And now, on to the numbers…

 

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Futures on the Dow Jones Industrial Average (DJIA) are more than 51 points below fair value.

 

5 Things You Need to Know Today

 

  1. Chinese stocks inched higher, with the Shanghai Composite posting its first weekly win in about a month.
  2. The CBOE Volatility Index (VIX) tanked Thursday as traders took a risk-on approach, with the market's "fear gauge" closing below its 20-day trendline for the first time since mid-August. However, the VIX remains stuck north of the key 23.90 level.
  3. Online auction site eBay Inc (NASDAQ:EBAY) is testing a rapid shipping service in Germany that sounds a lot like Amazon Prime. For the cost of a $22 membership fee, customers can be assured of free two-day shipping on a number of items. EBAY shares faltered yesterday after a Cantor Fitzgerald downgrade to "hold" -- the rating to which Piper Jaffray upgraded the stock earlier this month.
  4. Fresh off acquiring Alstom SA's power unit, General Electric Company (NYSE:GE) said it plans to sell GE Capital's transportation finance business to Bank of Montreal (USA) (NYSE:BMO). Financial terms of the deal were not disclosed.
  5. While shares of Baidu Inc (ADR) (NASDAQ:BIDU) continue to struggle, the company has just secured an additional two board seats at China-based travel firm Qunar, in which it owns a more than 50% stake.

 

150911OV_Buzz

 

 

Market Statistics

 

  • General Motors Company (NYSE:GM), Wynn Resorts, Limited (NASDAQ:WYNN), and Lululemon Athletica inc. (NASDAQ:LULU) were among the equities with unusual call and put activity on Thursday. For the entire list, read Unusual Options Activity: GM, WYNN, LULU, and BX.
  • The Chicago Board Options Exchange (CBOE) saw 633,412 call contracts traded on Thursday, compared to 488,693 put contracts. The resultant single-session equity put/call ratio rose to 0.77, while the 21-day moving average remained at 0.76.
  • For info on currencies, commodities, trading volume, market breadth, and more, read Stock Market Stats for September 10, 2015.

 

Earnings and Economic Data

 

Today's schedule features the preliminary Thomson Reuters/University of Michigan consumer sentiment index and the Treasury budget. The week's earnings slate draws to a close with reports from Kroger (KR) and Mattress Firm (MFRM). To see what's on next week's docket, click here.

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