Tech Sell-Off Continues; Dow Jones Industrial Average Futures Sink 196

Why Wall Street's So Worried about Tesla

by Karee Venema

Published on Feb 8, 2016 at 9:06 AM
Updated on Feb 8, 2016 at 3:51 PM

The Denver Broncos won the Super Bowl, and in a not-so-surprising turn of events, stocks are signaling a bearish start. Specifically, futures on the Dow Jones Industrial Average (DJIA) are down triple digits, as oil prices for the March contract slide 3.7% to $29.74 per barrel. Also weighing on investor sentiment is a continued slide in technology shares, with "FANG" stocks -- Facebook Inc (NASDAQ:FB),, Inc. (NASDAQ:AMZN), Netflix, Inc. (NASDAQ:NFLX), and Alphabet Inc (NASDAQ:GOOGL) -- off sharply ahead of the bell.
Continue reading for more on today's market, including:


Futures on the Dow Jones Industrial Average (DJIA) are 196 points below fair value.

5 Things You Need to Know Today


  1. European markets are bathed in red ink today, following Wall Street's payrolls-induced plunge on Friday.
  2. The Chicago Board Options Exchange (CBOE) saw 861,435 call contracts traded on Friday, compared to 642,858 put contracts. The resultant single-session equity put/call ratio dropped to 0.75, while the 21-day moving average edged down to 0.75. 
  3. Just weeks after announcing it was exploring strategic options, for-profit educator Apollo Education Group Inc (NASDAQ:APOL) said it will be taken private for roughly $1.1 billion, or $9.50 per share. The stock is up 28% ahead of the bell.
  4. F is poised to extend last week's losses, following reports the automaker is planning on building a new factory in San Luis Potosi, Mexico. At last check, shares of F were down 1.4% in electronic trading.
  5. Hasbro, Inc. (NASDAQ:HAS) is 1.5% higher before the bell, after the company  said fourth-quarter revenue jumped the most in almost five years, on increasing demand for toys from "Star Wars: The Force Awakens" and "Jurassic World." Last week, reports surfaced that HAS could be on the verge of merging with sector peer Mattel, Inc. (NASDAQ:MAT), which also reported strong quarterly sales.


Earnings and Economic Data

There are no notable economic reports scheduled for today. On the earnings front, HAS, Loews (L), and Yelp (YELP) will announce quarterly results. To see what else is coming up on this week's agenda, click here.

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