Dow Jones Industrial Average Futures Climb on Yellen, Crude

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:

• How options traders are responding to Sunedison Inc's (NYSE:SUNE) epic collapse.
• This recreation stock was devastated by an alarming short-seller report.
• Demand for Tesla Motors Inc (NASDAQ:TSLA) options is hitting fever pitch.
• Plus... the yen finally cools off, Yahoo's newest suitor, and an Adobe Flash emergency.

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.

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. 

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