Dow Jones Industrial Average Eyes Fourth Straight Win On Crude's Strength

Is There a Way to Trade SPX Streaks?

by Josh Selway

Published on Oct 7, 2015 at 8:55 AM
Updated on Jun 24, 2020 at 10:16 AM

After the blue-chip index's narrow win on Tuesday, futures on the Dow Jones Industrial Average (DJIA) are moving higher yet again. The major economic news for the day will likely be the report on domestic crude inventories, as oil prices continue to rise -- a development that's been a boon for global markets today. Traders will also be preparing for earnings from Alcoa Inc (NYSE:AA), slated for tomorrow, which will unofficially kick off third-quarter earnings season. Meanwhile, the S&P 500 Index (SPX) is also positioned higher, as it looks to recover from its first loss in six sessions

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

 

And now, on to the numbers…

151007Futures

Futures on the Dow Jones Industrial Average (DJIA) are 79.8 points above fair value.

5 Things You Need to Know Today

 

  1. Oil's bounce is lifting stock markets in both Asia and Europe
  2. The Chicago Board Options Exchange (CBOE) saw 657,878 call contracts traded on Tuesday, compared to 447,637 put contracts. The resultant single-session equity put/call ratio rose to 0.68, while the 21-day moving average stayed flat at 0.77. 
  3. Beer giant Anheuser Busch Inbev SA (ADR) (NYSE:BUDhas raised its takeover offer for SABMiller to $104 billion in cash, valuing the company at roughly $64 per share. BUD has moved 2.3% higher ahead of the open -- even after SABMiller rejected the sweetened deal
  4. Yum! Brands, Inc. (NYSE:YUM) is getting crushed in electronic trading, taking a 15.7% dive after the food firm cut its full-year outlook in response to weak quarterly results out of Asia. This isn't surprising, though: the company has been struggling in China for some time. 
  5. Saudi Prince Alwaleed bin Talal's investment firm has increased its stake in Twitter Inc (NYSE:TWTR) to 0.72%, bringing the royal's total stake to more than 5%. The move comes after Alwaleed spoke out against Jack Dorsey -- the company's new CEO -- only a short time ago. TWTR is 1.5% higher in pre-market trading. 


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Earnings and Economic Data

 

On top of the weekly petroleum inventory report, today's docket holds the Fed's consumer credit report. Acuity Brands (AYI), Constellation Brands (STZ), Global Payments (GPN), and Monsanto (MON) will step into the earnings confessional.  To see what else is coming up on this week's docket, click here.


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