Dow Jones Industrial Average Eyes Fourth Straight Win

How Bears Are Bombarding Apple

by Josh Selway

Published on Dec 17, 2015 at 9:05 AM

Dow Jones Industrial Average (DJIA) futures are cautiously higher following the first interest rate hike in almost 10 years. Traders are also digesting a mixed bag of economic data this morning, as weekly jobless claims fell more than expected, though the Philadelphia Fed's manufacturing survey missed big, pointing toward contraction. Still, the Dow looks well positioned for its fourth straight win

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

And now, on to the numbers…


151217Futures

Futures on the Dow Jones Industrial Average (DJIA) are 40.9 points above fair value.  


5 Things You Need to Know Today

 

  1. Global markets are responding positively to the Fed's decision to raise rates. 
  2. The Chicago Board Options Exchange (CBOE) saw 1 million call contracts traded on Wednesday, compared to 548,547 put contracts. The resultant single-session equity put/call ratio slid to 0.54, while the 21-day moving average stayed at 0.72. 
  3. Turing Pharmaceuticals CEO Martin Shkreli has been arrested this morning on charges of securities fraud. Shkreli is best known as the executive who jacked up the price of Daraprim exponentially overnight. Shkreli was also the largest shareholder of KaloBios Pharmaceuticals Inc (NASDAQ:KBIO), which is now set to lose half its value at the open. 
  4. Facebook Inc (NASDAQ:FB) is positioned for a positive open, even though a judge in Brazil suspended the company's WhatsApp messenger application in the country for 48 hours. The court made the ruling after it said WhatsApp twice refused to comply with judicial order, according to Bloomberg. The new batch of FB bears is likely hoping to see this news weigh on the shares, which are almost 37% higher in 2015. 
  5. Online music streamer Pandora Media Inc (NYSE:P) has struggled since its post-earnings bear gap in mid-October -- with a debt offering earlier this month not helping matters -- dropping almost 30% in the past three months. Today, though, the shares are looking at a nearly 20% pop, after a U.S. copyright board raised royalty payments to a level the company called "balanced." 

151217OV_Buzz

Earnings and Economic Data

The Conference Board's index of leading economic indicators is also due out today. Heading into the earnings spotlight will be Accenture (ACN), General Mills (GIS), Red Hat (RHT), Sanderson Farms (SAFM), and Winnebago Industries (WGO). To see what else is coming up on this week's agenda, click here


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