Dow Jones Industrial Average Futures Up With Oil Prices

7 Signs Caution Reigns Supreme

May 24, 2016 at 9:07 AM
facebook X logo linkedin

Dow Jones Industrial Average (DJIA) futures are seated well above fair value in pre-market trading, setting up Dow stocks to recover nicely after Monday's modest retreat. The possibility of the Fed raising interest rates next month remains front and center, amid several rounds of hawkish comments from central bank officials. This group now includes Philadelphia Fed President Patrick Harker, who said last night he "can easily see the possibility of two or three rate hikes over the remainder of the year." However, stabilizing oil prices -- July-dated crude futures were last seen up 0.9% at $48.49 per barrel -- appear to be momentarily overshadowing the interest-rate chatter.

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

Dow futures May 24

Futures on the Dow Jones Industrial Average (DJIA) are roughly 92 points above fair value.

5 Things You Need to Know Today

  1. Asian markets buckled under rate-hike worries, while a rebound in crude oil prices is boosting stocks in Europe.
  2. The Chicago Board Options Exchange (CBOE) saw 733,580 call contracts traded on Monday, compared to 475,412 put contracts. The resultant single-session equity put/call ratio fell to 0.65, while the 21-day moving average held at 0.76.
  3. Best Buy Co Inc (NYSE:BBY) is pointed 4.2% lower pre-market, after the electronics retailer's current-quarter guidance fell shy of estimates -- overshadowing better-than-expected first-quarter earnings and sales. Additionally, BBY said Corie Barry will replace Sharon McCollam as chief financial officer, effective at the conclusion of the company's annual shareholder meeting on Tuesday, June 14. A downside gap could be received well by yesterday's crop of option bears
  4. Although Facebook Inc's (NASDAQ:FB) internal probe did not detect political bias in the social network's "Trending Topics" section, the company has nonetheless modified procedures to address the potential suppression of conservative news.
  5. The Coca-Cola Co (NYSE:KO) has temporarily shut down beverage production in Venezuela, due to a sugar shortage. However, sugarless drinks like Diet Coke will continue to be manufactured.

Buzz Stocks May 24

Earnings and Economic Data

Today's docket includes new home sales. Earnings are slated for DSW (DSW), Hewlett Packard Enterprise (HPE), and Intuit (INTU). 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 calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI