Dow Jones Industrial Average Futures Drop as Crude's Slump Continues

Crude Breaks $35; Plus, 2 Energy Stocks On the Bearish Radar

Josh Selway

Dec 14, 2015 at 8:55 AM

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Last week's oil-induced sell-off looks poised to continue, with futures on the Dow Jones Industrial Average (DJIA) moving further below fair value as January-dated crude has dropped another 2.4% to trade below $35 per barrel -- oil's lowest level since early 2009. This, of course, comes as traders prepare for the most highly anticipated Federal Open Market Committee (FOMC) meeting in years. There are no major economic reports on the schedule today, leaving oil -- and Fed speculation -- free to run the show on Wall Street.

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

Bearish betting has ramped up on these 2 energy stocks.
Are these luxury retailers headed to fresh lows? Short sellers sure hope so.
Buyout buzz fueled a huge weekly win for Whole Foods Market, Inc. (WFM).

And now, on to the numbers…

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Futures on the Dow Jones Industrial Average (DJIA) are 52.21 points below fair value.

5 Things You Need to Know Today

Global stocks are mostly lower as oil's heavy losses weigh, but China managed to buck the downtrend.
The Chicago Board Options Exchange (CBOE) saw 756,163 call contracts traded on Friday, compared to 694,792 put contracts. The resultant single-session equity put/call ratio rose to 0.92, while the 21-day moving average edged up to 0.75.
Trina Solar Limited (ADR) (NYSE:TSL) is up 7.9% in pre-market action, as the company's CEO and Shanghai Xingsheng Equity Investment & Management Co have proposed to take the company private. The deal values TSL, which has recently tumbled on lackluster earnings, at $980 million, or $11.60 per American depositary share -- a 21.5% premium to Friday's close at $9.55.
Twitter Inc (NYSE:TWTR) has dropped 1.1% before the open, after the company warned some users that state-sponsored hackers attempted to obtain information from their accounts. This comes after the shares showed a rare bout of strength last week when the company announced a new feature.
Confirming recent speculation, Jarden Corp (NYSE:JAH) will be bought out by Newell Rubbermaid Inc.(NYSE:NWL) for over $13 billion in cash and stock, or $60 per share. JAH closed Friday at $52.68, and has gained 2% in electronic trading on the news.

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Earnings and Economic Data

There are no major economic reports scheduled today. FuelCell Energy (FCEL) and VeriFone (PAY) will report quarterly earnings. To see what's coming up on this week's agenda, click here.

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