Dow Jones Industrial Average Futures Rise As Jobs Report Nears

One Blue Chip Poised for a Short Squeeze

by Josh Selway

Published on Nov 5, 2015 at 8:57 AM
Updated on Nov 5, 2015 at 9:04 AM

One day out from the highly anticipated nonfarm payrolls report, the Dow Jones Industrial Average (DJIA) looks set to return to its winning ways, as seen earlier in the week. Futures on the big-cap index are comfortably higher, as traders continue to weigh the recent Fed talk -- which will continue into today, with several central bank officials set to speak -- against the latest data. Specifically, weekly jobless claims rose to their highest total in over a month, while third-quarter productivity came in higher than expected. Today's round of earnings will be highlighted by blue chip Walt Disney Co (NYSE:DIS), which is set to report post-close. 

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

And now, on to the numbers…


151105Futures

Futures on the Dow Jones Industrial Average (DJIA) are 68.4 points above fair value. 

 5 Things You Need to Know Today

 

  1. While China led the charge in a mixed Asian session, European stocks are moving higher amid some strong earnings reports
  2. The Chicago Board Options Exchange (CBOE) saw 832,515 call contracts traded on Wednesday, compared to 605,926 put contracts. The resultant single-session equity put/call ratio jumped to 0.73, while the 21-day moving average stayed at 0.69 for the third day in a row. 
  3. Facebook Inc's (NASDAQ:FB) pre-earnings bulls hit the nail on the head, as the company last night revealed impressive profits and revenue growth, topping the Street's expectations. The shares are poised to open up 4.9%, at a new all-time high. 
  4. Travel website Expedia Inc (NASDAQ:EXPE) is set to jump 3.6% at the open, after announcing it will acquire vacation services website HomeAway, Inc. (NASDAQ:AWAY) for $3.9 billion. Like FB, EXPE is on track to open at a record peak, with the stock building on last week's bullish earnings momentum.
  5. It looks like Whole Foods Market, Inc. (NASDAQ:WFM) will meet a different fate this morning. The organic grocer revealed a sharp drop in same-store sales, while missing analysts' profit expectations. The company cited growing competition for the woes, while also announcing a $1 billion share buyback program and a 4% dividend hike. Aside from some unsubstantiated buyout buzz, shareholders haven't had much to cheer about recently. WFM is already down 39% in 2015, and is pointed 6.1% lower in electronic trading. 


151105OV_Buzz

Earnings and Economic Data

 

A slew of regional Fed presidents will deliver speeches at various central bank conferences, including Philadelphia's Patrick Harker, New York's William Dudley, Chicago's Charles Evans, and Atlanta's Dennis Lockhart. Also slated to speak are Vice Chair Stanley Fischer and Fed Governor Daniel Tarullo.

Along with Dow member DIS, companies expected to report earnings include Clean Energy Fuels (CLNE), Con Edison (ED), Cyberark Software (CYBR), Dreamworks Animation (DWA), Duke Energy (DUK), HHGregg (HGG), Kraft Heinz (KHC), Melco Crown Entertainment (MPEL)Molson Coors Brewing (TAP)NVIDIA (NVDA), Orexigen Therapeutics (OREX), Pixelworks (PXLW), Quanta Services (PWR), Ralph Lauren (RL), SeaWorld Entertainment (SEAS), Shake Shack (SHAK), Silver Standard Resources (SSRI), Skyworks (SWKS), Symantec (SYMC), Take-Two Interactive Software (TTWO)TripAdvisor (TRIP), and Weight Watchers International (WTW). To see what else is coming up on this week's docket, click here


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