Dow Jones Industrial Average Futures Fall as Unemployment Rate Rises

3 Stocks Set to Drop in April

by Josh Selway

Published on Apr 1, 2016 at 9:03 AM
Updated on Apr 1, 2016 at 9:10 AM

After a weak finish to an otherwise strong quarter, ​Dow Jones Industrial Average ​(DJIA) futures are trading below fair value this morning, signaling a lower open for stocks. All eyes are on today's nonfarm payrolls report -- which showed job growth topping expectations at 215,000, even as the unemployment rate unexpectedly ticked up to 5.0%. There's plenty of other economic data out today, too, as traders consider the impact of today's jobs report on the Fed's rate-hike plans. Elsewhere, oil prices are falling, with May crude futures down 2.9% at $37.22 per barrel. Despite this morning's weakness in Dow futures, the index is still on pace for its sixth weekly win in the last seven. 

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

160401Futures

Futures on the Dow Jones Industrial Average (DJIA) are trading 45 points below fair value. 

5 Things You Need to Know Today

 

  1. Japan led a global stock retreat after a key sentiment indicator hit a three-year low
  2. The Chicago Board Options Exchange (CBOE) saw 540,195 call contracts traded on Thursday, compared to 369,225 put contracts. The resultant single-session equity put/call ratio jumped to 0.68, while the 21-day moving average remained at 0.70.  
  3. BlackBerry Ltd (NASDAQ:BBRY) reported a smaller-than-expected quarterly loss, but revenue disappointed. BBRY is down nearly 7% in electronic trading, while pre-earnings options traders were betting on a bigger post-event move. 
  4. The bidding war for Starwood Hotels & Resorts Worldwide Inc (NYSE:HOT) came to a surprise end last night, when China's Anbang Insurance retracted its offer for the company. This leaves Marriott International Inc (NASDAQ:MAR) as the likely candidate to buy HOT. HOT is down more than 4% in electronic trading, and MAR has given back 5.2%. 
  5. Semiconductor stock Marvell Technology Group Ltd. (NASDAQ:MRVL) is down over 4% ahead of the open, after the company said it would delay filing its annual earnings report for the past year. This drop will be a change of pace for the shares, which have gained 8% in March amid M&A speculation


160401buzz1


Earnings and Economic Data

Also scheduled for release today are motor vehicle sales, the Markit purchasing managers manufacturing index (PMI), the Institute for Supply Management (ISM) manufacturing index, the Thomson Reuters/University of Michigan consumer sentiment survey, and construction spending data. To see what's coming up on next week's schedule, click here


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