Dow Jones Industrial Average Futures Pop as Crude Oil Keeps Rising

2 Must-See SPY Charts

by Josh Selway

Published on Mar 1, 2016 at 9:12 AM

Dow Jones Industrial Average (DJIA) futures are trading more than 100 points above fair value this morning, as stocks head into the one of the most bullish stretches of the year. Crude oil is rising right alongside Dow futures, with April-dated crude futures adding 1.6% to trade at $34.30 per barrel. Oil's gains are also lifting stocks overseas, while traders look ahead to another data-heavy session here at home. 

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

  • 2 must-see charts of the SPDR S&P 500 ETF Trust (SPY).
  • How this trio of media stocks bucked yesterday's bearish trend.
  • 25 stocks that outperform in March.
  • Plus... stocks in Shanghai respond to the PBOC's latest policy move, what's driving United Technologies higher, and why Alibaba may have some major competition. 

160301Futures

Futures on the Dow Jones Industrial Average (DJIA) are 101.5 points above fair value.

5 Things You Need to Know Today

 

  1. Traders in China finally got a chance to react to yesterday's surprise policy move, while buyout buzz is boosting a British exchange operator.
  2. The Chicago Board Options Exchange (CBOE) saw 602,125 call contracts traded on Monday, compared to 363,665 put contracts. The resultant single-session equity put/call ratio slipped to 0.60, while the 21-day moving average remained at 0.74.  
  3. At $96.62, United Technologies Corporation (NYSE:UTX) is more than 15% above its February lows, buoyed recently by some major M&A buzz. Just this morning, RBC upgraded UTX to "outperform" from "sector perform" -- but the stock is off 3.7% this morning, after Honeywell International Inc. (NYSE:HON) said it will no longer pursuing a merger with the company.
  4. After initially sliding during after-hours trading on Monday, cloud-focused software stock Workday Inc (NYSE:WDAY) has turned 3.8% higher before the open. Traders are considering the stock's fourth-quarter earnings report -- which included a slimmer-than-expected loss, while revenue increased 43%. Goldman Sachs was one of several brokerage firms to weigh in on WDAY this morning, trimming its price target even further to $71 from $74. 
  5. As fellow China-based e-commerce stock Alibaba Group Holding Ltd (NYSE:BABA) looks to enhance its own growth prospectsJD.Com Inc (ADR) (NASDAQ:JD) appears to be trending in the right direction, too. The stock is almost 4% higher in pre-market trading, after the company reported a 57% surge in quarterly revenue compared to a year earlier, topping analysts' forecasts. At Monday's close of $25.71, JD had lost more than 20% of its value in 2016. 

160301ovbuzz


Earnings and Economic Data

The Markit purchasing managers index (PMI) and Institute for Supply Management's (ISM) manufacturing index will be released, as well as construction spending data. Stepping up to the earnings plate are Ascena Retail Group (ASNA), AutoZone (AZO), Bob Evans (BOBE), Dollar Tree (DLTR), JinkoSolar (JKS), Kate Spade (KATE), Ross Stores (ROST), Tesco (TESO), and TiVo (TIVO). To see what else is coming up on this week's agenda, click here.


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