Dow Jones Industrial Average Futures Higher After Jobs Report

How a Surging Euro Could Hurt These 3 Stocks

by Josh Selway

Published on Dec 4, 2015 at 8:54 AM

Futures on the Dow Jones Industrial Average (DJIA) are pointing to a strong open following the release of the highly anticipated nonfarm payrolls report. Specifically, the U.S. created 211,000 jobs in November, narrowly exceeding economists' expectations of 200,000. As such, a December rate hike from the Fed is considered a near-certainty. After Thursday's central bank-related sell-off, though, traders are responding positively to the news so far this morning. In other news, oil futures are moving higher again, with the December contract pushing a 1.3% lead at $41.60 per barrel.


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

And now, on to the numbers…


151204Futures

Futures on the Dow Jones Industrial Average (DJIA) are almost 100 points above fair value. 


5 Things You Need to Know Today

 

  1. Stocks around the world were mostly lower ahead of the U.S. jobs report. 
  2. The Chicago Board Options Exchange (CBOE) saw 601,369 call contracts traded on Thursday, compared to 538,969 put contracts. The resultant single-session equity put/call ratio surged to 0.90, while the 21-day moving average moved up to 0.73. 
  3. GoPro Inc (NASDAQ:GPRO) has been hovering right above its all-time lows from November, but it appears today the shares will break through this floor. Ahead of the open, GPRO has dropped 2.8% following a downgrade to "neutral" from "outperform" at Baird, which also cut its price target in half, to $18. 
  4. One of GPRO's top suppliers is also in for a rough day. Ambarella Inc (NASDAQ:AMBA) is sitting 8.4% lower in pre-market trading, after a disappointing earnings report brought on a wave of bearish analyst attention. Making matters worse, the company said near-term headwinds in the wearable sports market are expected to "negatively impact revenue in Q4." It's been nothing but downside for AMBA since touching a late-July record peak
  5. Trying to avoid the group of post-earnings retail losers is Big Lots, Inc. (NYSE:BIG), with the stock edging higher in electronic trading after losing over 5% on Thursday. The company announced slightly better-than-expected quarterly results, including a 2.6% increase in same-store sales. 


151204ovbuzz

Earnings and Economic Data

International trade data is due out. A trio of regional Fed officials will speak, including James Bullard of St. Louis, Patrick Harker of Philadelphia, and Narayana Kocherlakota of Minneapolis.

Genesco (GCO) and Hovnanian (HOV) are among the few companies set to report earnings at the end of the week. To see what's on next week's agenda, click here


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