Dow Jones Industrial Average Futures Up 133 on Fed Chatter

4 Energy Stocks Feeling the Heat

by Karee Venema

Published on Sep 21, 2015 at 8:43 AM

Wall Street is ready to put last week's disastrous turn of events in the rearview mirror, with futures on the Dow Jones Industrial Average (DJIA) signaling a triple-digit surge. While the end-of-week sell-off was seemingly stoked by the Fed's concerns over global economic growth, today's projected jump comes courtesy of three central bank officials. Specifically, San Francisco Fed President John Williams, St. Louis Fed President James Bullard, and Richmond Fed President Jeffrey Lacker all took to the airwaves over the weekend to call for an interest-rate hike before year's end. This comes ahead of a week's worth of central bank speeches, including one from Atlanta Fed President Dennis Lockhart later today.

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

 

  • This financial firm is about to take an $800 million tax hit
  • A look at 4 energy stocks that highlighted the sector's woeful end-of-week finish. 
  • Recent CBOE Volatility Index (VIX) trader behavior could have bullish implications, says Schaeffer's contributor Adam Warner  
  • Plus … 5 things you need to know this morning -- including stocks making waves and what's happening overseas.

And now, on to the numbers…

 

150921ovfutures

Futures on the Dow Jones Industrial Average (DJIA) are more than 133 points above fair value. 


5 Things You Need to Know Today

 

  1. Bearish traders took control of a low-volume session in Asia, while this German automaker has shed one-fifth of its value today.
  2. The Chicago Board Options Exchange (CBOE) saw 911,801 call contracts traded on Friday, compared to 759,499 put contracts. The resultant single-session equity put/call ratio jumped to 0.83, while the 21-day moving average edged up to 0.79. 
  3. LinkedIn Corp (NYSE:LNKD) and Fitbit Inc (NYSE:FIT) were among the equities with unusual call and put activity on Friday. For the entire list, read Unusual Options Activity: LNKD, BMY, and FIT.
  4. Apple Inc. (NASDAQ:AAPL) announced over the weekend it has removed a number of iPhone and iPad programs that were hit by a malicious software attack. Separately, the tech titan said it is getting ready to launch Apple Pay in China. Ahead of the bell, shares of AAPL are up 0.7%, ready to extend their recent rebound.
  5. Exactly one month to the day after Alexis Tsipras resigned as prime minister of Greece, the country re-elected him -- and his Syriza party -- to lead the nation. Shortly before his resignation, Tsipras agreed to contentious austerity measures in order to secure a bailout for cash-strapped Greece.

150921OV_Buzz

 

Earnings and Economic Data

 

The week kicks off with the existing home sales report for August. Later in the afternoon, Lockhart will speak in Atlanta.

Lennar (LEN) will report earnings and try to keep defying the Street's skepticism toward homebuilders. Software company Red Hat Inc (RHT) is also set to reveal its quarterly results. To see what else is coming up on this week's docket, click here.


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