Dow Jones Industrial Average Futures Signal Rebound for Stocks

Following Monday's lackluster finish, Dow Jones Industrial Average (DJIA) futures are set to follow Asian stocks higher. After some downbeat manufacturing data sparked gains overseas, traders here in the U.S. will be eyeing a pair of reports on factory activity set to be released shortly after the open, along with data on auto sales and construction spending. Later in the day, Chicago Fed President Charles Evans will be the first of several Fed members to speak throughout the week. 

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

• Schaeffer's Senior V.P. of Research Todd Salamone explains how CBOE Volatility Index (VIX) futures traders could be signaling end-of-year strength. 
• A $50 million deal sent one drugmaker to new heights, while an unlikely name entered the wearable tech game. 
• How skepticism is mounting on these 2 retail heavyweights. 

And now, on to the numbers…

Futures on the Dow Jones Industrial Average (DJIA) are more than 85 points above fair value. 

5 Things You Need to Know Today

 

1. While Asian stocks ended higher amid stimulus hopes, Europe is mixed following the latest eurozone unemployment report. 
2. The Chicago Board Options Exchange (CBOE) saw 526,165 call contracts traded on Monday, compared to 342,278 put contracts. The resultant single-session equity put/call ratio fell to 0.65, while the 21-day moving average stayed at 0.71. 
3. Nokia Corporation (ADR) (NYSE:NOK) gapped higher roughly a month ago with a blowout third quarter. The company is making headlines again today after announcing its virtual reality camera, Ozo, will hit the market at a hefty $60,000. The shares have added 2.5% ahead of the open, after closing Monday at $7.21. 
4. In late October, Dow Chemical Co (NYSE:DOW) announced plans to review its agroscience business -- and on Monday evening, the company said it will sell a portfolio of weed killers to privately held Gowan Company for an undisclosed sum. However, DOW is edging lower in pre-market trading. 
5. Even though CEO Martin Shkreli announced he'd lower the price in September, the cost of Turing Pharmaceuticals' toxoplasmosis treatment Daraprim remains inflated. Now, pharmacy benefits manager Express Scripts Holding Company (NASDAQ:ESRX) is stepping up, with plans to partner with Imprimis Pharmaceuticals Inc (NASDAQ:IMMY) to make a $1 alternative drug accessible. IMMY has rallied 11.7% pre-market, while ESRX is fractionally higher.

Earnings and Economic Data

 

The day's docket includes Markit's purchasing managers manufacturing index (PMI) and the Institute for Supply Management's (ISM) manufacturing index. Bank of Montreal (BMO) and Bob Evans (BOBE) will step into the earnings booth. To see what else is on this week's agenda, click here.