Dow Jones Industrial Average Futures Slump After Doha Disappointment

Dow Jones Industrial Average ​​(DJIA) futures are sitting below fair value this morning, after the highly anticipated meeting of global oil producers -- minus Iran -- in Doha Sunday failed to culminate in a production-freeze agreement. Global stocks are sliding as oil prices resume their journey south, with May crude futures last seen off 3.6% at $38.89 per barrel. Meanwhile, New York Fed President William Dudley said the U.S. is facing "significant uncertainties" and "headwinds to growth."

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

• Why Citigroup says you shouldn't count on a takeover of 3-D Systems Corporation (NYSE:DDD).
• The news that had option bears blitzing Apple Inc. (NASDAQ:AAPL).
• This company's "turnaround is on track," according to one analyst.
• Plus... Global stocks pull back after Doha, Netflix's new competition, and Disney wins at the box office.

Futures on the Dow Jones Industrial Average (DJIA) are 59 points below fair value.

5 Things You Need to Know Today

 

1. Global stocks tracked crude oil lower, with Japan reeling on a soaring yen and earthquake aftershocks.
2. The Chicago Board Options Exchange (CBOE) saw 1,026,561 call contracts traded on Friday, compared to 645,511 put contracts. The resultant single-session equity put/call ratio fell to 0.63, while the 21-day moving average remained at 0.68.
3. Netflix, Inc. (NASDAQ:NFLX) is down 1.4% in electronic trading on news that Amazon.com, Inc. (NASDAQ:AMZN) is preparing to offer its streaming video service -- currently available only to Amazon Prime members -- as a standalone subscription service. NFLX is due to report quarterly earnings after the close this evening.
4. Drugmaker AstraZeneca plc (ADR) (NYSE:AZN) has reportedly been mulling a bid for Medivation Inc (NASDAQ:MDVN), though a formal offer has not been made. While MDVN recently insisted it has no plans to sell itself, the shares are up 2.5% ahead of the bell.
5. Walt Disney Co (NYSE:DIS) is pointed 0.4% higher ahead of the open after receiving an upgrade to "buy" from "hold" at Pivotal Research, which said investor concerns are already priced into the stock. DIS' latest film, a live-action remake of "The Jungle Book," was also the top grossing movie at the box office over the weekend.

Earnings and Economic Data

The week starts off with the NAHB housing market index. On the earnings front, IBM (IBM), Hasbro (HAS), Morgan Stanley (MS), Netflix (NFLX), and PepsiCo (PEP) will report. To see what is 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