Dow Jones Industrial Average Futures Catch Fire on Oil, GDP

Dow Jones Industrial Average (DJIA) futures are signaling a triple-digit jump out of the gate, as stocks react to another pop in oil prices and the latest gross domestic product (GDP) reading. April-dated crude futures were last seen 2.5% higher at $33.89 per barrel, and the U.S. fourth-quarter gross domestic product (GDP) was upwardly revised to 1% from 0.7%, besting economists' prediction of a drop to 0.4%.

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• M&A madness resulted in huge gains for this blue chip and these 2 energy stocks.
• Why RBC now "lacks conviction" on this financial firm.
• Plus... Chinese stocks bounce back, reconsidering the Oprah effect, and Alibaba seeks cash to expand.

5 Things You Need to Know Today

1. Chinese markets recovered some of yesterday's losses, as Group of 20 (G-20) meetings kicked off in Shanghai, while stocks in Europe are surging on oil's rally.
2. The Chicago Board Options Exchange (CBOE) saw 632,738 call contracts traded on Thursday, compared to 393,838 put contracts. The resultant single-session equity put/call ratio fell to 0.62, while the 21-day moving average remained at 0.75.  
3. Herbalife Ltd (NYSE:HLF) reported better-than-forecast earnings last night, with the company adding it's in talks with the Federal Trade Commission (FTC) to resolve a probe into its business practices. Ahead of the bell, HLF is up 7.5% -- to the disappointment of one major short seller -- after settling yesterday at $45.76.
4. Oprah Winfrey's endorsement was apparently not enough, as Weight Watchers International, Inc. (NYSE:WTW) is bracing for a 26% drop out of the gate due to a surprise fourth-quarter loss. The shares closed at $15.55 yesterday.
5. Alibaba Group Holding Ltd (NYSE:BABA) is pointed 2.4% higher in electronic trading, following reports the Chinese e-tailer has approached several banks about a loan worth up to $4 billion to fuel expansion efforts. The stock closed Thursday at $66.66.

Earnings and Economic Data

January data on personal income and spending will be in focus today, along with the Thomson Reuters/University of Michigan consumer sentiment index. J C Penney (JCP), Foot Locker (FL), Range Resources (RRC), and Sotheby's (BID) will round out the week's earnings reports. To see what is coming up on next week's agenda, click here.