Dow Jones Industrial Average Futures Slip

Following a triple-digit boom to start the week, the Dow Jones Industrial Average (DJIA) appears ready to take a breather today. Another round of earnings is set to come through, along with factory orders and auto sales. While Wall Street is looking ahead to tomorrow's testimony from Fed Chair Janet Yellen, as well as a speech from Vice Chair Stanley Fischer, the main event remains Friday's nonfarm payrolls report. 

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

• Schaeffer's Senior Equity Analyst Joe Bell explains why we could be testing all-time highs again soon. 
• While one drugmaker shot higher on an FDA nod, a sector peer hit 15-year highs on M&A buzz. 
• This streaming music name got a boost after gaining the rights to a fan favorite. 

And now, on to the numbers…

Futures on the Dow Jones Industrial Average (DJIA) are nearly 41 points below fair value. 

 5 Things You Need to Know Today

 

1. China was the sole loser in Asia, while Europe is red across the board. 
2. The Chicago Board Options Exchange (CBOE) saw 777,267 call contracts traded on Monday, compared to 454,662 put contracts. The resultant single-session equity put/call ratio dropped to 0.58, while the 21-day moving average stayed at 0.69. 
3. Video game issue Activision Blizzard, Inc. (NASDAQ:ATVI) announced it will buy mobile game maker King Digital Entertainment PLC (NYSE:KING) for $5.9 billion, or $18 per share. However, ATVI also announced a third-quarter revenue shortfall, which could be welcome news for the stock's many skeptics.
4. Fitbit Inc (NYSE:FIT) soared past Wall Street's earnings estimates last night, but announced a 21-million share offering and the early lockup expiration of another 2 million shares. The stock is now sliding in electronic trading, pointed 7.7% lower -- though this would still be smaller than the move the options market was anticipating. 
5. Sprint Corp (NYSE:S) is facing an 8% drop following its earnings release. The telecom giant missed the Street's expectations as revenue tumbled, even as it achieved its goal of cutting costs from the year-ago period. 

Earnings and Economic Data

 

Factory orders, along with monthly auto and truck sales, are on today's news slate. ATVI, Ariad Pharmaceuticals (ARIA), Cablevision (CVC), CBS (CBS), Devon Energy (DVN), Etsy (ETSY), Groupon (GRPN), Herbalife (HLF), Kellogg (K), Mobileye (MBLY), Mosaic (MOS), Myriad Genetics (MYGN), Office Depot (ODP), RetailMeNot (SALE), Silver Wheaton (SLW), TASER International (TASR), Tesla Motors (TSLA), U.S. Steel (X), WebMD (WBMD), and Zynga (ZNGA) are scheduled to step into the earnings spotlight. To see what else is coming up on this week's docket, click here.