DJIA futures are again tracking oil, which is trading off sharply
Futures on the
Dow Jones Industrial Average (DJIA) are indicating a sluggish start for Wall Street, as oil futures give back some of
last week's gains. More specifically, the February crude contract was last seen 3% lower, and back below $37 per barrel. And with little economic data on tap for this second straight holiday-shortened week, oil could remain the primary market driver over the next few days. Elsewhere, investors are also considering the largest drop in China's Shanghai Composite in over a month.
Continue reading for more on today's market, including:
And now, on to the numbers…
Futures on the Dow Jones Industrial Average (DJIA) are more than 98 points below fair value.
5 Things You Need to Know Today
- China stocks tanked today, but Tokyo shrugged off disappointing data.
- The Chicago Board Options Exchange (CBOE) saw 329,158 call contracts traded on Thursday, compared to 188,972 put contracts. The resultant single-session equity put/call ratio edged up to 0.57, while the 21-day moving average remained at 0.70.
- The bidding war for Pep Boys-Manny Moe and Jack's (NYSE:PBY) between activist investor Carl Icahn and private firm Bridgestone looks to be over. PBY agreed to a $947 million -- or $17 per share -- offer from Bridgestone last Thursday night, with the company's board stating it no longer saw Icahn's offer as superior. PBY settled at $17.51 on Thursday.
- Walt Disney Co's (NYSE:DIS) "Star Wars: The Force Awakens" has become the fastest movie to ever gross over $1 billion at the box office. The film topped the milestone in just 12 days.
- Amazon.com, Inc. (NASDAQ:AMZN) is moving higher ahead of the open, after the firm announced promising holiday results. Specifically, the company said it added over 3 million subscribers to its Prime service last week. It also said it sold "millions" of its own devices, doubling last year's efforts.
Earnings and Economic Data
The Dallas Fed manufacturing survey will be released today. On the corporate side, Church & Dwight (CHD) will join the S&P 500 Index (SPX) after the close. To see what's coming up on this week's agenda, click here.