Dow Jones Industrial Average Futures Edge Lower, Win Streak in Jeopardy

The Stock That Makes a Perfect Christmas Gift

by Alex Eppstein

Published on Dec 24, 2015 at 8:57 AM

Ahead of what's expected to be a low-volume Christmas Eve session, Dow Jones Industrial Average (DJIA) futures are edging lower -- spelling a potential end to the index's three-day win streak. On the other hand, crude oil is edging higher -- with February-dated futures up 0.6% at $37.73 per barrel, putting the commodity on track for a fourth straight daily gain and its best weekly performance since October. Elsewhere, weekly jobless claims fell more than expected to 267,000, approaching a 42-year low.

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 nearly 29 points below fair value.


5 Things You Need to Know Today

 

  1. Strength in the energy sector helped Hong Kong-listed stocks edge higher, while a rejuvenated yen weighed on Japanese markets.
  2. The Chicago Board Options Exchange (CBOE) saw 689,362 call contracts traded on Wednesday, compared to 387,942 put contracts. The resultant single-session equity put/call ratio and 21-day moving average remained at 0.56 and 0.70, respectively. 
  3. Shares of KaloBios Pharmaceuticals Inc (NASDAQ:KBIO), which haven't traded in the week since then-CEO Martin Shkreli was arrested for alleged securities fraud, received a delisting notice from Nasdaq, with the exchange using its "discretionary" authority. KBIO has until Dec. 28 to appeal the ruling, which is set to take effect Dec. 30.
  4. Activist investor Carl Icahn said yesterday he would pay as much as $1 billion, or $18.10 per share, for Pep Boys-Manny Moe and Jack (NYSE:PBY) to stop rival bidder Bridgestone from acquiring the auto parts dealer. On the heels of this news, Bridgestone reportedly did boost its offer. PBY is unchanged in electronic trading, but yesterday touched another eight-year high of $17.63. 
  5. Hyatt Hotels Corporation (NYSE:H) notified customers of malware that was found on the chain's payment processing systems, and said it has begun investigating the breach and "taken steps to strengthen the security of our systems."

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Earnings and Economic Data

There are no earnings reports on today's docket, with U.S. markets closing at 1 p.m. ET for Christmas Eve. To see what is coming up on next week's agenda, click here​. 


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