Dow Jones Industrial Average Futures On Edge Ahead of Data

2 Biotechs That Burned Bears

by Alex Eppstein

Published on Oct 16, 2015 at 9:02 AM
Updated on Oct 16, 2015 at 9:07 AM

It appears the Dow Jones Industrial Average (DJIA) will cool off today after Thursday's huge earnings-induced lift, with futures pointed slightly lower. It seems traders are taking a wait-and-see approach ahead of a busy day of economic data, with reports on manufacturing activity, job openings, and consumer sentiment all due out. Meanwhile, blue chip General Electric Company (NYSE:GE) is fresh off its latest quarterly report, and is currently up 1.6% in pre-market trading. On a weekly basis, the Dow will be fighting to notch its third consecutive win; the index is currently up 0.3% since last Friday.

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


And now, on to the numbers…

151016ov

Futures on the Dow Jones Industrial Average (DJIA) are nearly 7 points below fair value. 

5 Things You Need to Know Today

 

  1. Stocks in Asia got a lift from Wall Street, as well as mounting stimulus expectations out of China and Japan.
  2. The Chicago Board Options Exchange (CBOE) saw 945,970 call contracts traded on Thursday, compared to 818,784 put contracts. The resultant single-session equity put/call ratio jumped to 0.87, while the 21-day moving average inched up to 0.75. 
  3. While Yahoo! Inc. (NASDAQ:YHOO) recently announced it will move forward with its Alibaba Group Holding Ltd (NYSE:BABA) spin-off plans, the latter company just announced an offer to buy the outstanding shares of video streaming site Youku Tudou Inc (ADR) (NYSE:YOKU) for $3.6 billion, or $26.60 per American depositary share, in cash. The news has BABA fractionally higher pre-market, while YOKU has spiked nearly 23%.
  4. While the options market was pricing in a post-earnings move of nearly 3%, industrial conglomerate Honeywell International Inc. (NYSE:HON) is just fractionally lower ahead of the open. The company reported a better-than-expected third-quarter profit this morning, but fell short of the consensus revenue estimate.
  5. Energy issue Schlumberger Limited (NYSE:SLB), which was met with plenty of pre-earnings pessimism from analysts, said quarterly earnings plunged 49% year-over-year -- but still edged past estimates -- while revenue dropped 33% and came up just short of expectations. SLB is down 0.6% pre-market.


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Earnings and Economic Data

 

The week winds down with industrial production and capacity utilization, the Labor Department's Job Openings and Labor Turnover Survey (JOLTS), and the Thomson Reuters/University of Michigan consumer sentiment index. Progressive (PGR) and SunTrust Banks (STI) are scheduled to unveil their quarterly results. To see what's coming up on next week's docket, click here.


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