Dow Jones Industrial Average Futures Drop on China Data, Crude

Billionaire's Buy-In Sends Weight Watchers Skyrocketing

by Alex Eppstein

Published on Oct 19, 2015 at 9:01 AM
Updated on Oct 19, 2015 at 9:03 AM

The Dow Jones Industrial Average (DJIA) could be in for some tough sledding today, following the latest round of uninspiring data out of Beijing. Another potential market headwind is crude oil, which is nearly 2% lower amid fears of slowing demand from China. However, Weight Watchers International Inc. (NYSE:WTW) has nearly doubled in value ahead of the bell, thanks to a boost from a well-known billionaire.

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


And now, on to the numbers…

151019ov

Futures on the Dow Jones Industrial Average (DJIA) are roughly 64 points below fair value.

5 Things You Need to Know Today

 

  1. China's gross domestic product (GDP) hit its slowest pace in six years, but still managed to top economists' expectations.
  2. The Chicago Board Options Exchange (CBOE) saw 1.36 million call contracts traded on Friday, compared to 830,396 put contracts. The resultant single-session equity put/call ratio plunged to 0.61, while the 21-day moving average slipped to 0.74. 
  3. The last of the big banks has reported quarterly earnings, and once again, lackluster trading revenue weighed on results. Morgan Stanley (NYSE:MS) reported profit and revenue well below consensus estimates, sending the stock 5.5% lower pre-market.
  4. Weight Watchers stock has spiked more than 90% ahead of the open, as media mogul Oprah Winfrey is set to acquire a 10% stake and take a seat on WTW's board. Winfrey will purchase 6.4 million shares at WTW's Friday closing price of $6.79 per share, and has the option to build her stake by another 5%.
  5. Jacqueline Reses, chief development officer of YHOO, is reportedly leaving her position to join Jack Dorsey's Square Inc, according to Bloomberg. Reses represents just the latest tech executive to switch teams, following the notable departure of Omid Kordestani from YHOO rival Alphabet Inc (NASDAQ:GOOGL).


151019OV_Buzz

Earnings and Economic Data

 

The week kicks off with the NAHB housing market index. International Business Machines (IBM) will lead a group including Halliburton (HAL), Sonic (SONC), and Valeant Pharmaceuticals (VRX) into the earnings confessional. To see what else is coming up on this week's docket, click here.


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