Oil Boosts Dow Jones Industrial Average Futures Ahead of Fed Minutes

What the Biggest Post-Depression Comeback Means for Stocks

Apr 6, 2016 at 9:08 AM
facebook X logo linkedin


After swimming in red ink yesterday, ​Dow Jones Industrial Average ​(DJIA) futures are signaling a higher start, ahead of this afternoon's highly anticipated meeting minutes from the Federal Open Market Committee (FOMC). Driving stocks higher pre-market are upbeat data out of China's services sector, and a bounce in oil prices -- with May-dated crude futures currently 2.9% higher at $36.94 per barrel, amid renewed hopes for a global production freeze. A number of Fed officials are also set to speak, including midday remarks from Cleveland Fed President Loretta Mester.

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

160406ov

Futures on the Dow Jones Industrial Average (DJIA) are nearly 24 points above fair value.

5 Things You Need to Know Today

 

  1. The losing streak for Japanese stocks reached seven days, while European markets are higher on crude oil.
  2. The Chicago Board Options Exchange (CBOE) saw 564,527 call contracts traded on Tuesday, compared to 390,906 put contracts. The resultant single-session equity put/call ratio rose to 0.69, while the 21-day moving average remained at 0.70.
  3. It's official: Pfizer Inc. (NYSE:PFE) and Allergan plc Ordinary Shares (NYSE:AGN) have announced they are scrapping their planned $160 billion merger after the U.S. Treasury announced rules to prevent corporate "inversions." PFE has gained 1.3% ahead of the bell, while AGN has fallen 1.5%.
  4. Nokia Corp (ADR) (NYSE:NOK) announced plans to cut up to 15,000 jobs throughout Europe -- or 14% of its global workforce -- after completing its acquisition of Alcatel Lucent SA ADR (NYSE:ALU) later this year.
  5. Cree, Inc. (NASDAQ:CREE) is bracing for an 18% drop at the open -- which would be its worst single-day loss in months -- after the lighting firm warned its fiscal third-quarter earnings and revenue will come in below previous guidance.


160406OV_Buzz

Earnings and Economic Data

The weekly crude inventories update could create some buzz this morning, while the minutes from the latest FOMC meeting will command full attention in the afternoon. Apollo Education Group (APOL), Bed Bath & Beyond (BBBY), Monsanto (MON), and Ollie's Bargain Outlet (OLLI) will unveil their earnings reports. To see what else is coming up on this week's schedule, click here

Don't miss the market's next move! Sign up now for Schaeffer's Midday Market Check
 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI