Yellen Momentum Lifts Dow Jones Industrial Average Futures

The SPY Level to Watch Amid the Fed and 'Brexit' Hype

Jun 7, 2016 at 9:03 AM
facebook X logo linkedin


Dow Jones Industrial Average (DJIA) futures are trading above fair value this morning, as stocks look to carry over Monday's positive momentum. The Nasdaq Composite (COMP) and S&P 500 Index (SPX) are also eyeing positive starts, with the latter hoping to knock out another year-to-date high after Fed Chair Janet Yellen's speech on Monday boosted the broader stock market. Elsewhere, fresh M&A reports have Dow stock Verizon Communications Inc. (NYSE:VZ) in the news, while productivity and labor costs headlines today's economic data. 

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

U.S. Stock Futures June 7

Futures on the Dow Jones Industrial Average (DJIA) are almost 39 points above fair value. 

5 Things You Need to Know Today
 

  1. Stocks around the world are moving higher following Yellen's speech
  2. The Chicago Board Options Exchange (CBOE) saw 646,574 call contracts traded on Monday, compared to 382,361 put contracts. The resultant single-session equity put/call ratio stayed at 0.59, while the 21-day moving average edged down to 0.71.
  3. Reports this morning suggest VZ is planning to bid roughly $3 billion for Yahoo! Inc.'s (NASDAQ:YHOO) core internet business. VZ has long been considered the favorite to buy the struggling YHOO arm, despite reports late last month that the telecom giant's main competitor was considering a bid, as well. Meanwhile, YHOO is down 1% in pre-market trading. 
  4. As some analysts predicted, it appears more trouble is ahead for Valeant Pharmaceuticals Intl Inc (NYSE:VRX). The drugmaker is looking at an 18% setback when the market opens, after it released a worse-than-expected (delayed) first-quarter earnings report, and slashed its full-year guidance. The pending move will put the stock near its five-year low from last month. 
  5. Fellow drugmaker Sarepta Therapeutics Inc (NASDAQ:SRPT) has also been all over the charts this year, amid ongoing speculation surrounding its Duchenne muscular dystrophy (DMD) treatment, eteplirsen. Today, the shares are eyeing a 34% surge, after the company last night said the Food and Drug Administration (FDA) has asked for more data on the treatment before it makes it a decision. What's more, Wedbush upgraded SRPT to "outperform" from "neutral," and boosted its price target to $36 from $14. 


Buzz Stocks June 7

Earnings and Economic Data

Dave & Buster's (PLAY), HD Supply Holdings (HDS), and VeriFone (PAY) are set to release results. 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