Dow Jones Industrial Average Futures Slip Ahead of Fed Minutes

Why Bulls Should Root for an Alcoa Earnings Beat

by Josh Selway

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

The Dow Jones Industrial Average (DJIA) is set to open lower, following Wednesday's triple-digit win -- which marked the fourth consecutive daily gain for the blue-chip barometer. It should be an interesting day on the Street, with the minutes from the Fed's September meeting set for release this afternoon. Traders will also be preparing for third-quarter earnings season, which unofficially begins after the close, while keeping an ear turned toward speeches from regional Fed presidents John Williams and Narayana Kocherlakota. 

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 45.29 points below fair value. 

5 Things You Need to Know Today

 

  1. The Chinese stock market returned from holiday in a big way
  2. The Chicago Board Options Exchange (CBOE) saw 726,649 call contracts traded on Wednesday, compared to 600,156 put contracts. The resultant single-session equity put/call ratio rose to 0.83, while the 21-day moving average remained at 0.77. 
  3. Amazon.com, Inc. (NASDAQ:AMZN) will take on Wall Street newcomer Etsy Inc (NASDAQ:ETSY) with Handmade, a new marketplace for artisan crafts.  This is just the latest strategic move from AMZN, which boasts a 74.6% year-to-date lead. ETSY, meanwhile, is off 2.7% ahead of the open. 
  4. Casino firm Caesars Entertainment Corp (NASDAQ:CZR) announced an amended restructuring plan. The new plan is supported by 80% of senior bondholders. Amid its bankruptcy concerns, CZR has shed half its value in 2015. 
  5. Not surprisingly, Domino's Pizza, Inc.'s (NYSE:DPZ) fiscal third-quarter earnings disappointed the Street, as the pizza company feels the effects of its $6 million liability charge. Pre-market trading has the shares 3.6% in the red. 


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Earnings and Economic Data

 

In addition to the Fed minutes, weekly jobless claims will also be released today. AA will unofficially kick off third-quarter earnings season when it reports quarterly results after the closing bell sounds. Joining AA in the earnings spotlight are DPZ, International Speedway (ISCA), and Ruby Tuesday (RT).  To see what else is coming up on this week's docket, click here.


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