Dow Jones Industrial Average Futures Drop 136 as Crude Spirals Lower

2 Bullish Signs for December

by Alex Eppstein

Published on Dec 8, 2015 at 8:59 AM
Updated on Dec 8, 2015 at 9:02 AM

Falling commodity prices are weighing on stocks yet again, with Dow Jones Industrial Average (DJIA) futures pointed sharply lower this morning. As crude futures spiral toward new multi-year lows south of $37 per barrel, blue-chip oil stocks Chevron Corporation (NYSE:CVX) and Exxon Mobil Corporation (NYSE:XOM) are both down more than 2% ahead of the bell. Exacerbating pre-market jitters on Wall Street is downbeat data from China, though at least one tech name is set to soar as a bidding war heats up in the chip sector.


 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 136.5 points below fair value.


5 Things You Need to Know Today

 

  1. Chinese trade data failed to impress, though Japan's economy managed to dodge a recession.
  2. The Chicago Board Options Exchange (CBOE) saw 583,081 call contracts traded on Monday, compared to 482,396 put contracts. The resultant single-session equity put/call ratio jumped to 0.83, while the 21-day moving average edged up to 0.73. 
  3. Embattled drugmaker Valeant Pharmaceuticals Intl Inc (NYSE:VRX) is considering the sale of its Paragon Vision Sciences contact lens division, according to a Reuters report, amid a Federal Trade Commission (FTC) antitrust probe. This is just one of several concerns for VRX, which has been struggling on the charts due to a Citron Research fraud accusation and negative analyst attention.
  4. Another day, another E. coli headline for Chipotle Mexican Grill, Inc. (NYSE:CMG). This time, 30 Boston College students -- including members of the university's basketball team -- fell ill after eating at a CMG restaurant in Boston. As a result, the stock is down 4% pre-market.
  5. Fairchild Semiconductor Intl Inc (NASDAQ:FCS) is poised to soar 7.6% out of the gate, after the tech firm received an unsolicited buyout bid worth roughly $2.5 billion, or $21.70 per share in cash -- besting a previous offer from ON Semiconductor Corp (NASDAQ:ON).

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Earnings and Economic Data

Today's headline economic report will be the Labor Department's Job Openings and Labor Turnover Survey (JOLTS). AeroVironment (AVAV), AutoZone (AZO), Costco (COST), Dave & Buster's Entertainment (PLAY), Krispy Kreme Doughnuts (KKD), Smith & Wesson (SWHC), and Toll Brothers (TOL) will report quarterly earnings. To see what else is on this week's agenda, click here


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