Apple Earnings Lift Dow Jones Industrial Average Futures Ahead of Fed

2 Reasons the S&P Looks Poised to Rally

by Alex Eppstein

Published on Oct 28, 2015 at 8:56 AM
Updated on Jun 24, 2020 at 10:16 AM

Ahead of this afternoon's crucial Fed announcement, the Dow Jones Industrial Average (DJIA) is getting a pre-market boost from blue chip Apple Inc. (NASDAQ:AAPL), which topped expectations in the earnings confessional last night. Also on the docket today is the regularly scheduled crude inventories report, which traders will eye carefully, given oil's ongoing slide -- though the December futures contract was 1% higher at last check. Plus, as earnings season rolls on, there will be plenty of quarterly results to digest after the bell.

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 nearly 35 points above fair value.


 5 Things You Need to Know Today

 

  1. Apple suppliers are mixed around the globe after the tech giant's quarterly results, while Japan bucked a bearish session in Asia.
  2. The Chicago Board Options Exchange (CBOE) saw 861,273 call contracts traded on Tuesday, compared to 634,188 put contracts. The resultant single-session equity put/call ratio edged up to 0.74, while the 21-day moving average slipped to 0.72. 
  3. Diamond Foods, Inc.'s (NASDA:DMND) recent buyout rumors have finally come to fruition, as the snack specialist agreed to be bought by Snyder's-Lance Inc (NASDAQ:LNCE) for roughly $1.3 billion in cash and stock. On the news, DMND is 5.8% higher pre-market.
  4. In addition to officially reaching a deal to purchase Rite Aid Corporation (NYSE:RAD) for roughly $9.4 billion in cash, Walgreens Boots Alliance Inc (NASDAQ:WBA) reported better-than-expected quarterly earnings and revenue. Ahead of the open, though, the shares are off 2.3%, as WBA said it will suspend its $3 billion share buyback program to fund its RAD acquisition.
  5. Twitter Inc (NYSE:TWTR) is getting smoked in electronic trading, down 10.5% after the microblogging giant offered up a disappointing current-quarter revenue forecast -- overshadowing upbeat third-quarter profits and revenue. However, the options market was pricing in an even bigger post-earnings move.


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Earnings and Economic Data

 

Everyone's interest rate questions will be answered today, as the trading day's highlight will be the Federal Open Market Committee's (FOMC) 2 p.m. ET policy decision. We'll also hear the latest on weekly crude inventories. 

Amgen (AMGN), Anthem (ANTM), Barrick Gold (ABX), Boston Scientific (BSX), Buffalo Wild Wings (BWLD), Cirrus Logic (CRUS), F5 Networks (FFIV), Fiat Chrysler (FCAU), Garmin (GRMN), GoPro (GPRO), Hilton Hotels (HLT), Marriott (MAR), Newmont Mining (NEM), Nutrisystem (NTRI), SunPower (SPWR), Valero Energy (VLO), Vertex Pharmaceuticals (VRTX), Western Digital (WDC), and Yelp (YELP) will all report quarterly results. To see what else is on this week's docket, click here


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