Dow Jones Industrial Average Futures Rise on $50 Oil

Is Yahoo Headed for a Bidding War?

May 26, 2016 at 9:13 AM
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The Dow Jones Industrial Average (DJIA) is signaling another positive start, as rising oil prices boost trader confidence. Specifically, Dow futures are trading above fair value, with July-dated crude futures last seen 1.1% higher at $50.10 per barrel, crossing the half-century mark for the first time since October. Stocks are also reacting to a one-month low in weekly jobless claims and a 3.4% rise rise in durable goods orders for April -- although orders for core capital goods unexpectedly declined -- while St. Louis Fed President James Bullard said a "relatively tight" U.S. labor market could "put upward pressure on inflation." 

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

U.S. Stock Futures May 26

Futures on the Dow Jones Industrial Average (DJIA) are trading 19.5 points above fair value. 

5 Things You Need to Know Today

  1. Oil is lifting global stocks, while China overcame the latest central bank decision
  2. The Chicago Board Options Exchange (CBOE) saw 822,999 call contracts traded on Wednesday, compared to 511,648 put contracts. The resultant single-session equity put/call ratio moved up to 0.62, while the 21-day moving average held at 0.76.
  3. Retail stock Costco Wholesale Corporation (NASDAQ:COST) is looking for its first post-earnings win in three quarters today, after the company topped Wall Street's per-share profit estimates in the earnings booth last night -- though revenue disappointed. Still, COST is up 3.3% ahead of the open, a move that would put the shares back in positive territory on a year-over-year basis. 
  4. Elsewhere, Abercrombie & Fitch Co. (NYSE:ANF) is set to sell-off after sales fell for a 13th consecutive quarter. The stock is pointed 11.5% lower ahead of the bell, putting it on pace for its lowest open since November. However, this would be a welcome development for ANF options traders
  5. Netflix, Inc. (NASDAQ:NFLX) is looking to keep its recent rally going, boasting a 3.9% pre-market lead. Today's projected boost comes after the company said its exclusive content deal with Walt Disney Co (NYSE:DIS) -- set to start in September -- will include DIS' 2016 theatrical releases. Additionally, CNBC's Jim Cramer last night made a strong bullish case for the stock. At last night's close of $100.20, NFLX has added almost 17% since its near-team bottom of $85.74 on May 12. 

Buzz Stocks May 26

Earnings and Economic Data

Hitting the Street today is the pending home sales index, while St. Louis Fed President James Bullard will give his second speech of the week. Among the companies headed to the earnings stage are Burlington Stores (BURL)Deckers Outdoor (DECK), Dollar Tree (DLTR), GameStop (GME), Palo Alto Networks (PANW), Signet Jewelers (SIG), Splunk (SPLK), Trina Solar (TSL), and Ulta Salon, Cosmetics & Fragrance (ULTA). To see what else is coming up on this week's schedule, click here

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