Yellen Has Dow Jones Industrial Average Eyeing a Weekly Win

Friday's Best and Worst Stocks Revealed

by Karee Venema

Published on Sep 25, 2015 at 8:51 AM
Updated on Sep 25, 2015 at 3:05 PM

The Dow Jones Industrial Average (DJIA) is setting up for a big battle today, with futures on the blue-chip barometer suggesting the chance of weekly win. Today's projected pop comes courtesy of Fed Chair Janet Yellen, who -- shortly before a brief health scare last night -- echoed calls by her colleagues for a 2015 rate hike. However, Yellen added the caveat that any economic "surprises" could have the Fed changing course. Meanwhile, traders are also digesting the final reading on second-quarter gross domestic product (GDP), which was upwardly revised to 3.9% from 3.7%.

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

 

And now, on to the numbers…

150925ovfutures

Futures on the Dow Jones Industrial Average (DJIA) are nearly 241 points above fair value.

5 Things You Need to Know Today

 

  1. A rebound for automakers is helping to lift European markets at midday, while small-caps dragged China's Shanghai Composite to a loss.
  2. The Chicago Board Options Exchange (CBOE) saw 647,767 call contracts traded on Thursday, compared to 559,508 put contracts. The resultant single-session equity put/call ratio jumped to 0.86, while the 21-day moving average edged up to 0.76. 
  3. Volkswagen's board of directors is meeting today to name a new CEO. Martin Winterkorn resigned from the position earlier this week amid the emissions test scandal, and Porsche brand head Matthias Mueller is expected to be the front-runner for the position.
  4. BlackBerry Ltd (NASDAQ:BBRY) unveiled a wider-than-expected second-quarter loss, amid a sharp decline in smartphone revenue. The news has the shares up 0.1% in electronic trading -- a much slimmer move than the options market was pricing in.
  5. Another day, another antitrust headline for Google Inc (NASDAQ:GOOGL). This time, Bloomberg's sources say the company is under the gun of U.S. regulators, who are questioning practices in its Android division. Neither GOOGL nor the Federal Trade Commission have issued a statement, and shares of GOOGL are up 0.3% ahead of the bell.

150925OV_Buzz2


Earnings and Economic Data

 

In addition to the release of the final second-quarter GDP reading, the Thomson Reuters/University of Michigan consumer sentiment index will also be in play. Plus, Kansas City Fed President Esther George will deliver a speech on the economy and monetary policy in Omaha. On the earnings front, Finish Line (FINL) reported its quarterly results. To see what's on next week's docket -- including an all-star lineup of Fed speakers -- click here.


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