Dow Jones Industrial Average Futures Follow Crude Lower

The S&P Signal Not Seen Since 2002

Josh Selway

Dec 30, 2015 at 9:04 AM

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Dow Jones Industrial Average (DJIA) futures are lower ahead of what should be another low-volume session. Crude prices will remain in focus, especially with a report on domestic inventories due out this morning. As for now, February-dated oil is down 2.5%, and the major U.S. benchmarks look ready to take a breather following Tuesday's impressive surge.

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

The S&P 500 Index (SPX) signal we haven't seen since 2002, courtesy of Schaeffer's Senior Quantitative Analyst Rocky White.
How short sellers are leaving Apple Inc (NASDAQ:AAPL) and its suppliers in a hurry.
The holiday sales trend attracting analyst attention to this booming video game stock.
Plus... Commodities weigh on Europe, a biotech files for bankruptcy, and Icahn wins the day.

151230Futures

Futures on the Dow Jones Industrial Average (DJIA) roughly 41 points below fair value.

5 Things You Need to Know Today

After a mixed finish in Asia, European benchmarks are moving lower amid a decline in commodity stocks.
The Chicago Board Options Exchange (CBOE) saw 522,386 call contracts traded on Tuesday, compared to 280,795 put contracts. The resultant single-session equity put/call ratio fell back down to 0.54, while the 21-day moving average edged down to 0.71.
Biotech KaloBios Pharmaceuticals Inc (NASDAQ:KBIO), which hasn't traded since Dec. 17, has filed for Chapter 11 bankruptcy. The move comes after the firm received a delisting notice from the Nasdaq, a move prompted by the arrest and firing of former CEO Martin Shkreli.
Facebook Inc (NASDAQ:FB) has added almost 3% in December to trade at $107.26, but is set to open 0.6% lower this morning. A federal judge gave the go-ahead for two class-action lawsuits that claim the firm mislead investors in the lead-up to its initial public offering (IPO) in 2012.
It appears the bidding war for Pep Boys-Manny Moe and Jack (NYSE:PBY) is over, as Bridgestone has pulled its most recent offer after Carl Icahn topped it with an $18.50-per-share proposal, valuing the company at just over $1 billion.

151230OV_Buzz

Earnings and Economic Data

Data on pending home sales and the weekly crude inventories report are on tap. To see what else is coming up on this week's agenda, click here.

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