Dow Jones Industrial Average Futures Drop on Global Growth Anxiety

Why These 3 Stocks Gapped Higher

Nov 9, 2015 at 9:02 AM
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A downwardly revised 2015 global growth forecast from the Organisation for Economic Cooperation and Development (OECD) has Dow Jones Industrial Average (DJIA) futures trading lower this morning. The OECD warned that a slowdown in emerging markets, particularly China, is at the "heart" of its bleaker forecast -- which, combined with downbeat data from the mainland today, has sparked some jitters ahead of the open. With anxiety still lingering over the prospect of an imminent December rate hike, it's shaping up to be a negative session for U.S. stocks.

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 more than 39 points below fair value.

 5 Things You Need to Know Today

 

  1. Shanghai stocks got a boost as a moratorium on IPOs was lifted, while a weaker yen powered Japanese markets sharply higher.
  2. The Chicago Board Options Exchange (CBOE) saw 1.1 million call contracts traded on Friday, compared to 706,384 put contracts. The resultant single-session equity put/call ratio edged up to 0.66, while the 21-day moving average held steady at 0.68. 
  3. Yahoo! Inc. (NASDAQ:YHOO) has reportedly hired consulting firm McKinsey & Co. to help it decide which units to close, sell, and focus on, according to Re/code. This decision comes in the wake of yet another disappointing earnings reaction for YHOO.
  4. Travel website Priceline Group Inc (NASDAQ:PCLN) is bracing for a 6.4% drop out of the gate, as the company's weak fourth-quarter forecast overshadows better-than-expected third-quarter earnings and revenue. It's been a rough earnings season for the online travel sector, as PCLN business partner TripAdvisor Inc (NASDAQ:TRIP) on Friday fell nearly 7% post-report.
  5. Weight Watchers International, Inc. (NYSE:WTW) is pointed 6.4% higher pre-market, as news has broken about yet another huge outside investment. Late Friday, Point72 Asset Management announced a 5.7% passive stake in the dietary specialist. Meanwhile, Credit Suisse reacted by lifting its price target to $10 from $4.

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Earnings and Economic Data

 

There are no major economic reports due out today. On the earnings front, we'll hear from Arch Coal (ACI), BioDelivery Sciences (BDSI), Caesars Entertainment (CZR), Dean Foods (DF), DISH Network (DISH), Fuel Systems Solutions (FSYS), Halozyme Therapeutics (HALO), Hertz Global (HTZ), Intercept Pharmaceuticals (ICPT), ISIS Pharmaceuticals (ISIS), Lions Gate Entertainment (LGF), MannKind (MNKD), Plug Power (PLUG), Rackspace Hosting (RAX), RealD (RLD), SunEdison (SUNE), and SunEdison Semiconductor (SEMI). To see what's coming up on this week's schedule, click here

 

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