Dow Jones Industrial Average Futures Climb on Yellen, Crude

The Latest Stock Trashed by a Short-Seller Report

Apr 8, 2016 at 9:12 AM
facebook X logo linkedin


The ​Dow Jones Industrial Average ​(DJIA) looks ready to bounce back from yesterday's drubbing, with futures sitting well above fair value in pre-market trading. The risk-on approach is being supported by last night's comments from Fed Chair Janet Yellen, who said the labor market is "healing," and reiterated that "the gradual path of rate increases will be appropriate" -- echoed this morning by New York Fed President William Dudley. A huge rebound in oil prices could serve as another positive catalyst for stocks, with May-dated crude futures last seen 3.9% higher at $38.71 per barrel, as hopes of an oil production freeze build.

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

160408ov

Futures on the Dow Jones Industrial Average (DJIA) are roughly 128 points above fair value.

5 Things You Need to Know Today

 

  1. Japanese stocks gained as the yen pulled back, while crude's strength is pushing European markets higher.
  2. The Chicago Board Options Exchange (CBOE) saw 720,321 call contracts traded on Thursday, compared to 491,071 put contracts. The resultant single-session equity put/call ratio popped to 0.68, while the 21-day moving average edged down to 0.69.
  3. Verizon Communications Inc. (NYSE:VZ) may be the latest company interested in purchasing Yahoo! Inc. (NASDAQ:YHOO) assets. The telecom giant is reportedly planning to make a run at YHOO's web business, as well as its Japanese subsidiary.
  4. Gap Inc (NYSE:GPS) reported same-store sales dropped a sharper-than-expected 6% year-over-year last month, sending the shares nearly 7% lower ahead of the bell.
  5. Adobe Systems Incorporated (NASDAQ:ADBE) issued an emergency patch to its Flash software yesterday, after researchers uncovered a security glitch that allows hackers to hit Windows-based computers with ransomware.


160408OV_Buzz

Earnings and Economic Data

While both the earnings and economic calendars are bare today, Dallas Fed President Rob Kaplan is slated to speak. Additionally, Starwood Hotels & Resorts Worldwide (HOT) and Marriott International (MAR) will each host an extraordinary shareholders meeting to vote on their proposed merger. To see what is coming up on next 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