Will Dow Jones Industrial Average Win Streak End at 6?

What Will It Take to Push Facebook Past 100?

by Alex Eppstein

Published on Oct 12, 2015 at 9:06 AM

The Dow Jones Industrial Average (DJIA) looks primed for a slow start to the week, as traders tread carefully with several blue-chip earnings reports looming on the horizon. Today, activity is expected to be light (and economic reports are nonexistent), as most banks and federal institutions are shuttered for Columbus Day. Against this backdrop, futures are pointed only slightly higher, which means the Dow may struggle to notch a seventh straight daily win. Meanwhile, all eyes will be on the trio of Fed officials slated to give speeches today, with Atlanta Fed President Dennis Lockhart already at the mic.

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

 

And now, on to the numbers…

151012ov

Futures on the Dow Jones Industrial Average (DJIA) are 3.5 points above fair value.

5 Things You Need to Know Today

 

  1. Chinese stocks surged, after People's Bank of China (PBOC) Deputy Governor Yi Gang's encouraging comments about the market.
  2. The Chicago Board Options Exchange (CBOE) saw 720,690 call contracts traded on Friday, compared to 461,592 put contracts. The resultant single-session equity put/call ratio fell to 0.64, while the 21-day moving average edged down to 0.76. 
  3. As expected, Dell has agreed to buy EMC Corporation (NYSE:EMC) in a $67 billion cash-and-stock deal, valuing EMC at roughly $33.15 per share. The news has EMC pointed 3.2% higher ahead of the bell, but still several points south of the buyout offer.
  4. Twitter Inc (NYSE:TWTR) -- fresh off appointing a "new" CEO -- is reportedly planning to announce layoffs this week, with sources saying the company's payroll has become too bloated over the years. The shares are down 1.5% in pre-market trading as a result.
  5. Following its strong September performance, Ford Motor Company (NYSE:F) said it will invest nearly $12 billion over the next five years on smart cars in China. "It's a great opportunity to grow not only our core business of selling cars and trucks but also provide services to people that may not want a car but still want to be mobile," said CEO Mark Fields.


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Earnings and Economic Data

 

Chicago Fed President Charles Evans will speak on monetary policy in Chicago at 10:30 a.m. ET. After the close of trading, Federal Reserve Governor Lael Brainard will speak on the economic outlook to the National Association for Business Economics (NABE) in Washington. The lone company reporting earnings is Infosys (INFY). To see what else is coming up on this week's docket, click here.


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