Dow Jones Industrial Average Futures Slip With Oil

SPY at Record Highs?

Jun 2, 2016 at 9:15 AM
facebook X logo linkedin


Dow Jones Industrial Average (DJIA) futures are below fair value today, signaling a negative start after Wednesday's come-from-behind session. Oil prices are below breakeven, as traders await today's weekly crude inventories update, as well as developments from an Organization of the Petroleum Exporting Countries (OPEC) meeting, currently underway. At last check, July-dated crude futures were off 1.1% at $48.45 per barrel. 

Additionally, stocks are digesting the latest jobs data and Fed speak, ahead of tomorrow's nonfarm payrolls report. Private companies added slightly fewer positions than expected, according to ADP, while weekly jobless claims unexpectedly fell. Elsewhere, Fed Governor Daniel Tarullo took a more dovish approach to raising interest rates, saying he wants "an affirmative reason to move."

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

Dow Futures_June 2 

Futures on the Dow Jones Industrial Average (DJIA) are nearly 13 points below fair value.

5 Things You Need to Know Today
 

  1. Japan stocks slumped as the yen surged, while the ECB's anticipated rate decision has left stocks in Europe mixed.
  2. The Chicago Board Options Exchange (CBOE) saw 694,650 call contracts traded on Wednesday, compared to 385,270 put contracts. The resultant single-session equity put/call ratio slipped to 0.55, while the 21-day moving average edged down to 0.73.
  3. Apple Inc. (NASDAQ:AAPL) is sitting 0.7% lower ahead of the bell, after Goldman Sachs cut its price target on the stock, citing expectations for lower smartphone growth expectations. Additionally, the brokerage firm lowered its full-year profit estimate and iPhone sales forecast.
  4. Johnson & Johnson (NYSE:JNJ) will purchase hair care company Vogue International. The deal, worth $3.3 billion, is set to close in the third quarter of this year.
  5. Goldman Sachs initiated coverage on chipmaker NVIDIA Corporation (NASDAQ:NVDA) with an upbeat "buy" rating and $54 price target -- in record-high territory. The shares are set to open 0.6% higher.


Buzz stocks June 2

Earnings and Economic Data

Federal Reserve Governor Jerome Powell and Dallas Fed President Robert Kaplan will speak. The earnings slate is highlighted by Ambarella (AMBA), Broadcom (AVGO), Joy Global (JOY), and Zumiez (ZUMZ). To see what 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