Dow Jones Industrial Average Futures Lower After Brussels Attacks

Dow Jones Industrial Average (DJIA) futures are trading below fair value this morning, after marking a seventh straight win on Monday. U.S. stocks are following European equities lower, following a series of explosions in Brussels that reportedly killed 21 and injured at least 35. The blasts at the city's airport and metro station are believed to be the work of terrorists, and are also weighing on oil prices, with May-dated crude futures down 0.8% at $41.17 per barrel.

Later today, traders will be watching the Markit purchasing managers manufacturing index (PMI), as well as speeches from Chicago Fed President Charles Evans and Philadelphia Fed President Patrick Harker. Should the Dow claw its way to a positive finish, it would mark the longest win streak in more than a year.

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

• 2 reasons we may hit some post-Fed speed bumps.
• Put buying on Facebook Inc (NASDAQ:FB) has hit fever pitch.
• How J.P. Morgan Securities ditched Lululemon Athletica inc. (NASDAQ:LULU) in favor of a rival.
• Plus... China snaps a hot streak, Apple's day in court gets cancelled, and a blue chip eyes business in Cuba.

Futures on the Dow Jones Industrial Average (DJIA) are nearly 60 points below fair value.

5 Things You Need to Know Today

 

1. Asian stocks were mixed as China snapped its winning streak, and Europe is lower after the Brussels bombings.
2. The Chicago Board Options Exchange (CBOE) saw 527,615 call contracts traded on Monday, compared to 376,417 put contracts. The resultant single-session equity put/call ratio jumped to 0.71, while the 21-day moving average slid to 0.67.  
3. At the request of the Justice Department, Apple Inc.'s (NASDAQ:AAPL) court hearing with the FBI, scheduled for today, was cancelled. The government has said it may have a way to get data from an iPhone without AAPL's help, and wants to attempt to do so before heading to court.
4. Valeant Pharmaceuticals Intl Inc (NYSE:VRX) appears ready to continue Monday's rally, up 1% in electronic trading after activist investor Bill Ackman -- who just earned a seat on the company's board -- stood side-by-side with CEO Mike Pearson to address employees and answer their questions in a town hall meeting. 
5. General Electric Company (NYSE:GE) may be the latest company hoping to profit with warming relations between the U.S. and Cuba. The firm reportedly signed a memorandum of understanding with the Cuban government stating GE's intention to sell aviation, medical, and power equipment to the country.

Earnings and Economic Data

On the earnings front, Nike (NKE), Five Below (FIVE), G-III Apparel (GIII), Krispy Kreme Doughnuts (KKD), and Red Hat (RHT) will report. To see what else is coming up on this week's agenda, click here.