Dow Jones Industrial Average Futures Rise with Oil Prices

Did This Survey Just Flash an S&P Buy Signal?

Josh Selway

Mar 28, 2016 at 8:59 AM

Dow Jones Industrial Average (DJIA) futures are trading above fair value this morning, as U.S. stocks look to bounce back from their first weekly loss in six weeks. Many on Wall Street are looking ahead to Fed Chair Janet Yellen's speech tomorrow, after last week's hawkish comments from Fed officials. There's still plenty of economic data out today, though, including this morning's personal income and spending data, which showed a slight increase in consumer spending in February. Looking to oil prices, May-dated crude futures are trading up 1% at $39.87 per barrel.

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

Did this sentiment survey just flash an S&P buy signal?
How the FTC's "disturbing tactics" sent two stocks soaring.
One Apple Inc. (NASDAQ:AAPL) supplier looks ready to bounce.
Plus... A momentous drug decision, Merck gets paid, and a fresh round of buyout speculation for Yahoo.

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Futures on the Dow Jones Industrial Average (DJIA) are 51.3 points above fair value.

5 Things You Need to Know Today

Japanese and Chinese stocks went in different directions in a low-volume session.
The Chicago Board Options Exchange (CBOE) saw 617,616 call contracts traded on Thursday, compared to 507,322 put contracts. The resultant single-session equity put/call ratio slid to 0.82, while the 21-day moving average notched up to 0.69.
ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) is up 14% in pre-market trading, after Food and Drug Administration (FDA) staff members on Friday said the company's treatment for psychosis related to Parkinson's disease, Nuplazid, was effective enough for approval. Now, ACAD awaits a Tuesday decision from a committee of medical experts on whether the drug should be approved for use.
Gilead Sciences, Inc. (NASDAQ:GILD) has been ordered to pay Merck & Co., Inc. (NYSE:MRK) $200 million in damages after a jury last week ruled in MRK's favor in the companies' patent dispute. However, MRK had asked for $2 billion from GILD, and now the latter stock is up 1.5% ahead of the open.
Yahoo! Inc. (NASDAQ:YHOO) is up 1.8% in electronic trading, on reports Microsoft Corporation (NASDAQ:MSFT), along with some private equity firms, may be interested in buying the company. This comes after one of YHOO's biggest investors called for major changes last Thursday.

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Earnings and Economic Data

Also due out today are the international trade balance, the pending home sales index, and the Dallas Fed manufacturing survey. Cal-Maine Foods (CALM) will report earnings. To see what else is coming up on this week's agenda, click here.

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