Dow Jones Industrial Average Braces for Another Down Day

2 Charts Bears Don't Want to See

by Alex Eppstein

Published on Nov 10, 2015 at 9:08 AM
Updated on Nov 10, 2015 at 11:06 AM

With futures trading below fair value, the Dow Jones Industrial Average (DJIA) is poised for another session in the red, following the bearish lead of overseas markets. On the data front, U.S. import prices fell more than expected last month, pressured in large part by tumbling oil prices. Meanwhile, a new International Energy Agency (IEA) report says crude could potentially hover around $50 per barrel through the end of the decade, with a possible recovery up to $80 by 2020. December oil futures are down fractionally at last check to trade at $43.70 per barrel, with Dow oil majors Exxon Mobil Corporation (NYSE:XOM) and Chevron Corporation (NYSE:CVX) both trading lower ahead of 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 16.5 points below fair value.

 5 Things You Need to Know Today

 

  1. Chinese markets pared some of Monday's gains following the latest round of downbeat data.
  2. The Chicago Board Options Exchange (CBOE) saw 770,184 call contracts traded on Monday, compared to 586,808 put contracts. The resultant single-session equity put/call ratio jumped up to 0.76, while the 21-day moving average rose to 0.69. 
  3. E-tailer Alibaba Group Holding Ltd (NYSE:BABA) -- fresh off a major acquisition -- is holding its Singles' Day shopping extravaganza in Beijing tomorrow for the first time ever, relocating from its headquarters in Hangzhou in an attempt to raise the event's global profile. Last year's Singles' Day generated a massive $9.3 billion in revenue, and IDC analysts expect BABA could rake in over $13 billion this year.
  4. Sunedison Inc (NYSE:SUNE) is up 3.5% pre-market, reversing earlier losses -- to the relief of option bulls -- after the company said it would scale back sales of renewable energy assets to its "yieldcos" due to challenging market conditions. SUNE also reported a wider-than-forecast third-quarter loss.
  5. The 43 West Coast Chipotle Mexican Grill, Inc. (NYSE:CMG) locations that were shuttered due to an E. coli outbreak will reopen in the coming days, according to a company statement, after health officials said extensive testing for the bacteria turned up negative. CMG shares are pointed 1.4% higher on the news.

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Earnings and Economic Data

 

Wholesale inventories will hit the Street today. Expected to report earnings are Beazer Homes (BZH), Juno Therapeutics (JUNO), and Kinross Gold (KGC). To see what else is coming up on this week's schedule, click here


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