Oil Fuels Gains in Dow Jones Industrial Average Futures

The Earnings Event That Could Haunt Bill Ackman

May 5, 2016 at 9:04 AM
facebook X logo linkedin


Dow Jones Industrial Average ​​(DJIA) futures are perched above fair value, boosted by an earnings beat by Dow stock Merck & Co., Inc. (NYSE:MRK) and rising oil prices. Specifically, June-dated crude futures are up 3.5% at $45.31 per barrel, as a fire near Canada's oil sands region and mounting political tensions in Libya threaten near-term supply. On the data front, weekly jobless claims rose much more than expected, to 274,000, but the impact on stocks has been negligible so far.

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

dow futures may 5

Futures on the Dow Jones Industrial Average (DJIA) are nearly 51 points above fair value.

5 Things You Need to Know Today
 

  1. Chinese markets ended a choppy session higher thanks to crude oil, while European stocks are up modestly as traders brace for tomorrow's U.S. nonfarm payrolls report.
  2. The Chicago Board Options Exchange (CBOE) saw 703,647 call contracts traded on Wednesday, compared to 562,726 put contracts. The resultant single-session equity put/call ratio rose to 0.80, while the 21-day moving average remained at 0.69.
  3. Alibaba Group Holding Ltd (NYSE:BABA) is pointed 3.5% higher pre-market, as a 39% year-over-year rise in revenue offset an earnings miss -- turning up the heat on this big-time bearish bettor.
  4. One week after reporting an earnings beat, Ford Motor Company (NYSE:F) posted its biggest year-over-year retail sales drop on record in China last month, with sales tumbling 11%. Meanwhile, U.S. rival General Motors Company (NYSE:GM) bounced back from March's 0.6% sales decline, gaining 7.5% in April.
  5. Tesla Motors Inc (NASDAQ:TSLA) is set to pop 4% at the open, after the electric automaker reported a narrower-than-expected quarterly loss and matched revenue estimates, while also raising its production targets. No fewer than six analysts have raised their price targets on the results, and short sellers may be rethinking their bearish positions, as well.


Buzz Stocks May 5_2

Earnings and Economic Data

There is nothing notable on the economic front. Earnings wise, 3D Systems (DDD)Activision Blizzard (ATVI), AMC Networks (AMCX), AmerisourceBergen (ABC), Avon Products (AVP), Chesapeake Energy (CHK)Clovis Oncology (CLVS)Cyberark Software (CYBR), Discovery Communications (DISCA), Dreamworks Animation (DWA), El Pollo Loco (LOCO), FireEye (FEYE), GoPro (GPRO), Kellogg (K), MGM Resorts (MGM)Mobileye N.V. (MBLY), Motorola Solutions (MSI), News Corp (NWSA), Regeneron Pharmaceuticals (REGN)SeaWorld (SEAS)Square (SQ), SunPower (SPWR), Tableau Software (DATA), TreeHouse Foods (THS), Windstream (WIN), and Yelp (YELP) will announce. 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