Dow Jones Industrial Average Futures Signal Lower Open

Why the Ugly Sideways Movement Could Persist

May 17, 2016 at 9:10 AM
facebook X logo linkedin

The Dow Jones Industrial Average ​​(DJIA) looks set for a negative start after Monday's triple-digit burst, with Dow futures trading below fair value. Oil prices are holding steady following yesterday's Goldman Sachs-related surge, with June-dated crude futures last seen up 0.2% at $47.82 per barrel. Elsewhere, Dow stock Home Depot Inc (NYSE:HD) is in focus after reporting impressive quarterly earnings, while traders are also digesting an early round of economic data. Specifically, the consumer price index (CPI) and housing starts both rose more than expected in April -- the former by its widest margin in three years -- while a report on industrial production is set for release just before the open. 

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

U.S. Stock Futures May 17

Futures on the Dow Jones Industrial Average (DJIA) are 30.7 points below fair value. 

5 Things You Need to Know Today

  1. Stocks in Asia closed mostly higher, though China's Shanghai Composite took a step back
  2. The Chicago Board Options Exchange (CBOE) saw 723,416 call contracts traded on Monday, compared to 431,815 put contracts. The resultant single-session equity put/call ratio slid to 0.60, while the 21-day moving average held at 0.75.
  3. HD this morning reported earnings and revenue that topped Wall Street's expectations. The blue-chip retailer also raised its full-year outlook. However, the shares are edging lower in pre-market trading, which may have call buyers scratching their heads
  4. After getting rocked by a C-suite scandal last week, loan specialist LendingClub Corp (NYSE:LC) revealed it has received a subpoena from the Justice Department. LC has shed more than 10% in electronic trading, putting it on pace to open at record lows. 
  5. Online music stock Pandora Media Inc (NYSE:P) has struggled on the charts in 2016, losing more than one-fourth of its value at $9.98 -- failing to maintain last month's big earnings boost. However, P is up over 5% ahead of the bell, after hedge fund Corvex Management LP -- which just reported a nearly 10% stake in Pandora -- is reportedly pushing for the company to explore a sale.

Buzz Stocks 2 May 17

Earnings and Economic Data

San Francisco Fed President John Williams and Dallas Fed President Robert Kaplan will speak in the afternoon. Meanwhile, Red Robin Gourmet Burgers (RRGB), TJX Companies (TJX), and Vipshop (VIPS) will take a turn in the earnings confessional.. To see what's 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 calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI