Dow Jones Industrial Average Futures Dive 167 on Exxon, Oil

How to Trade the Market Right Now

by Josh Selway

Published on Feb 2, 2016 at 9:15 AM

Futures on the Dow Jones Industrial Average (DJIA) are signaling a triple-digit drop at the open, as falling crude futures again hamper trader enthusiasm. At last check, oil for March delivery has dropped 2.5% to trade below $31 per barrel. Moreover, expected post-earnings losses from Dow components Exxon Mobil Corporation (NYSE:XOM) and Pfizer Inc. (NYSE:PFE) are adding to the risk-adverse attitude. Later on, Wall Street will digest auto sales data for January, while Kansas City Fed President Esther George is set to speak in the afternoon. 

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



Futures on the Dow Jones Industrial Average (DJIA) are 167.2 points below fair value. 

5 Things You Need to Know Today


  1. Stocks in Europe are also trending lower, while Shanghai sat out an energy-fueled swoon in Asia.  
  2. The Chicago Board Options Exchange (CBOE) saw 626,244 call contracts traded on Monday, compared to 392,746 put contracts. The resultant single-session equity put/call ratio moved up to 0.63, while the 21-day moving average stayed at 0.74. 
  3. After easily topping analysts' earnings estimates last night, Alphabet Inc (NASDAQ:GOOGL) is looking at a potential 5% jump at the open, putting it on the brink of toppling Apple Inc. (NASDAQ:AAPL) as the world's most valuable company. Such a move would have GOOGL atop $800 -- record-high territory -- which is bad news for recent speculators
  4. In the wake of sliding oil prices, BP plc (ADR) (NYSE:BP) reported its worst yearly loss in two decades, while Dow component XOM is edging lower in pre-market action following its quarterly report -- just as many were counting on
  5. On the other side of the earnings spectrum is toymaker Mattel, Inc. (NASDAQ:MAT), which appears ready to recover from yesterday's 3% slide after reporting strong quarterly sales. So far in electronic trade, MAT has added over 6%. 


Earnings and Economic Data

Archer-Daniels-Midland (ADM), Chipotle Mexican Grill (CMG), Dow Chemical (DOW), Edwards Lifesciences (EW), Gilead Sciences (GILD)Illumina (ILMN), LyondellBasell (LYB), Michael Kors (KORS), Myriad Genetics (MYGN), Pitney Bowes (PBI), Royal Caribbean Cruises (RCL), Sirius XM (SIRI), United Parcel Service (UPS), and Yahoo! (YHOO) are on tap to report earnings. Elsewhere, Beazer Homes (BZH) and Oshkosh (OSK) will host their annual shareholders meeting. To see what else is on this week's agenda, click here.

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