Dow Jones Industrial Average Futures Plunge on Payrolls

SolarCity's Meltdown; Plus, The Stock That Hasn't "Yet Hit Bottom"

May 6, 2016 at 9:00 AM
facebook X logo linkedin

Dow Jones Industrial Average ​​(DJIA) futures have slid well below fair value in electronic trading, after the Labor Department's highly anticipated nonfarm payrolls report fell short of estimates. Specifically, the U.S. added 160,000 jobs in April -- the fewest in seven months, and below expectations for 202,000 new jobs -- while unemployment remained at 5%. Also applying pressure to stocks is a fall in oil prices, with June-dated crude futures last seen 1.4% lower at $43.70 per barrel.

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

dow futures may 6

Futures on the Dow Jones Industrial Average (DJIA) are nearly 73 points below fair value.

5 Things You Need to Know Today

  1. A drop in crude oil and potential bond defaults weighed on Chinese markets, but gold stocks are bouncing back in Europe.
  2. The Chicago Board Options Exchange (CBOE) saw 708,177 call contracts traded on Thursday, compared to 566,734 put contracts. The resultant single-session equity put/call ratio held at 0.80, while the 21-day moving average edged up to 0.70.
  3. A federal court in California turned down Facebook Inc's (NASDAQ:FB) motion to dismiss a lawsuit from users who alleged the social network "unlawfully" collected and stored their biometric data. This follows a recent lawsuit over FB's planned change to its share structure.
  4. Yelp Inc (NYSE:YELP) is poised to soar 12.5% out of the gate, after the business review site posted a surprise quarterly profit and lifted its full-year guidance. This is sure to make at least one activist investor happy.
  5. On the flip side, GoPro Inc (NASDAQ:GPRO) is getting ready to tank 7.6% out of the gate and into single-digit territory, after the wearable camera firm fell short of the Street's consensus earnings estimate and delayed its drone launch.

buzz stocks may 6

Earnings and Economic Data

There are no additional economic reports of note today. CIGNA (CI) and Gogo (GOGO) will report earnings. 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


How to collect 1 dividend check every day for LIFE

Did you know you could collect 1 dividend check every day the market is open? You could also do it starting with just $605! For me, I'm collecting 70 dividend checks every quarter…which averages around 1.1 dividend checks every business day. There's no trading behind this... no penny stocks or high-risk investments. All you do is buy and hold and you're set. There's no set up required either. If you start buying the dividend stocks I show you today... you could collect 1 dividend per day starting as early as this week. Click here for all the details.