Dow Jones Industrial Average Futures Bounce as Oil Recovers

6 Signs of High Anxiety on Wall Street

by Josh Selway

Published on Dec 29, 2015 at 9:13 AM
Updated on Dec 29, 2015 at 9:19 AM

Rising oil prices have Dow Jones Industrial Average (DJIA) futures pointing to a strong open this morning. Specifically, February crude futures have added 1.4% to reclaim $37 per barrel -- and futures on the Dow are now more than 100 points above fair value, as U.S. stocks continue to follow oil's lead amid a low-volume week light on data. 

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


151229Futures

Futures on the Dow Jones Industrial Average (DJIA) are nearly 118 points above fair value. 

5 Things You Need to Know Today

 

  1. Finance stocks led gains in Asia, while European indexes are overcoming big losses in mining stocks
  2. The Chicago Board Options Exchange (CBOE) saw 415,808 call contracts traded on Monday, compared to 504,746 put contracts. The resultant single-session equity put/call ratio exploded to 1.21 -- the highest reading in over seven years -- while the 21-day moving average moved up to 0.72. 
  3. After falling nearly 10% on Monday on news the firm's co-founder stepped down, Freeport-McMoRan Inc (NYSE:FCX) is trading higher ahead of the open. Shares of the mining stock are up 3.7% to $7.10 -- which would be a welcome development for yesterday's short-term speculators
  4. Just when we thought it was over, activist investor Carl Icahn raised his offer for Pep Boys-Manny Moe and Jack's (NYSE:PBY) to just over $1 billion -- or $18.50 per share. The company said the bid is superior to Bridgestone's offer of just under $1 billion, or $17 per share. PBY settled at $17.41 on Monday, and is poised to open 6.7% higher. 
  5. Grocery stock Whole Foods Market, Inc. (NASDAQ:WFM) is building on its positive month-to-date momentum. Despite Monday's late-breaking news that WFM has agreed to a $500,000 penalty and in-store audits every quarter due to overcharging accusations, the stock has jumped 1.5% ahead of the bell. 

151229OV_Buzz3

Earnings and Economic Data

Today's calendar features the S&P/Case-Shiller home price index and the Conference Board's consumer confidence survey. To see what else is coming up on this week's agenda, click here​. 


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