Dow Jones Industrial Average Futures Retreat; Jobless Claims Jump

Dow Jones Industrial Average (DJIA) futures are inching lower once again, at risk of extending a three-day losing streak. Wall Street is weighing a bigger-than-forecast rise in weekly jobless claims and a fifth straight monthly decline in import prices, with the Treasury budget due out at 2 p.m. ET. Meanwhile, crude remains in focus after a volatile few days, with the Organization of the Petroleum Exporting Countries (OPEC) saying daily output last month reached its highest level since April 2012 -- pressuring January-dated crude futures 1% lower to $36.80 per barrel.

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

• Why this chipmaker suffered its worst single-day performance in seven years.
• The catalyst that energized 3 solar stocks.
• While DuPont (NYSE:DD) merger buzz took center stage, 2 other chemical companies are reportedly chatting.

And now, on to the numbers…

Futures on the Dow Jones Industrial Average (DJIA) are 1.3 points below fair value.

5 Things You Need to Know Today

 

1. Most Asian markets edged lower ahead of OPEC's monthly oil report, while traders eyed the latest policy statements from two central banks.
2. The Chicago Board Options Exchange (CBOE) saw 654,713 call contracts traded on Wednesday, compared to 433,836 put contracts. The resultant single-session equity put/call ratio fell to 0.66, while the 21-day moving average held at 0.74. 
3. Dow component Wal-Mart Stores, Inc. (NYSE:WMT) said it will launch "Walmart Pay" -- which allows customers to make purchases via the retailer's app -- at select stores starting today, with plans to roll out the service further after the holiday season. On the charts, WMT is up 0.4% pre-market, and 0.5% for the month -- not bad, especially considering the stock's depressing December history.
4. Facebook Inc's (NASDAQ:FB) social network for professionals, "Facebook at Work," will likely launch within the next few months, a top company executive said. Elsewhere, FB CEO Mark Zuckerberg, who recently made headlines for the open letter he wrote to his daughter, penned a Facebook post in support of Muslims last night, writing, "I want you to know that you are always welcome here and that we will fight to protect your rights and create a peaceful and safe environment for you."
5. Chipotle Mexican Grill, Inc. (NYSE:CMG) is up 2.5% ahead of the open, after CEO Steve Ells pledged to make the restaurant the "safest place to eat" following a series of food-borne illness outbreaks.

Earnings and Economic Data

The Treasury budget will hit the Street this afternoon. Heading into the earnings booth will be Adobe Systems (ADBE) and Finisar (FNSR). To see what else is on this week's agenda, click here.