Dow Jones Industrial Average Futures Higher on Quadruple Witching Day

The Dow Jones Industrial Average (DJIA) is eyeing a potential sixth consecutive daily win, with futures above fair value in pre-market trading. A rise in oil prices is acting as a positive catalyst for stocks, as April-dated crude futures have gained 2.1% to trade at $41.06 per barrel amid a weaker dollar, with black gold flirting with year-to-date highs and a fourth straight weekly advance. Also in focus on this quadruple witching Friday are a trio of speeches from central bank officials, kicking off at 9 a.m. ET with New York Fed President William Dudley.

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

• Is it time to bet bullishly on this telecom stock?
• Option traders are upping the bullish ante ahead of Nike Inc (NYSE:NKE) earnings.
• Analysts can't stop picking on this sad-sack solar stock.
• Plus... oil fuels a global rally, Tiffany's profit warning, and buyers line up for Paramount Pictures.

Futures on the Dow Jones Industrial Average (DJIA) are nearly 50 points above fair value.

5 Things You Need to Know Today

 

1. Gains in crude oil boosted most Asian markets, with Chinese stocks leading the way following upbeat housing data.
2. The Chicago Board Options Exchange (CBOE) saw 914,149 call contracts traded on Thursday, compared to 575,112 put contracts. The resultant single-session equity put/call ratio fell to 0.63, while the 21-day moving average remained at 0.69.  
3. Tiffany & Co. (NYSE:TIF) reported better-than-expected earnings, but warned that profits may drop in the first half of 2016. As such, the jeweler's shares are 1.7% lower in pre-market trading, and poised for another test of their 80-day moving average.
4. Adobe Systems Incorporated (NASDAQ:ADBE) could burn option bears today, after the software firm reported an earnings beat and offered strong guidance for the current quarter and full year. The stock is pointed 6.8% higher ahead of the open.
5. According to The Wall Street Journal, dozens of companies are interested in buying a minority stake in Paramount Pictures film studio from entertainment giant Viacom, Inc. (NASDAQ:VIAB).

Earnings and Economic Data

The preliminary Thomson Reuters/University of Michigan consumer sentiment index is the only major economic report due out today. Things are relatively quiet on the earnings front. To see what is on next week's agenda, click here.