EARN25

Dow Jones Industrial Average Futures Drop; Microsoft in Focus

The Mining Stock That's Doubled -- And Could Have Room to Run

Jun 13, 2016 at 9:11 AM
facebook X logo linkedin


Futures on the Dow Jones Industrial Average (DJIA) are below fair value -- signaling an extension of last Friday's losses -- as anxiety sets in ahead of this week's interest-rate decisions from the Federal Open Market Committee (FOMC) and Bank of Japan (BoJ), as well as next week's highly anticipated "Brexit" vote in the U.K. Additionally, stocks will likely react to this morning's huge blue-chip buyout news, with Dow component Microsoft Corporation (NASDAQ:MSFT) saying it will purchase LinkedIn Corp (NYSE:LNKD) for $26.2 billion in cash. While shares of LNKD are up 49% ahead of the bell, MSFT stock is down 3.1%.

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

Dow futures June 13

Futures on the Dow Jones Industrial Average (DJIA) are 42 points below fair value.

5 Things You Need to Know Today
 

  1. A stronger yen sent Japan stocks spiraling, while "Brexit" fears are weighing on European benchmarks.
  2. The Chicago Board Options Exchange (CBOE) saw 747,038 call contracts traded on Friday, compared to 608,020 put contracts. The resultant single-session equity put/call ratio rose to 0.81, while the 21-day moving average remained at 0.67. 
  3. Shares of firearms manufacturers are headed higher this morning, following the deadliest mass shooting in U.S. history in Orlando, Florida, on Sunday. At last check, sector component Sturm, Ruger & Company (NYSE:RGR) was up 4.2% -- on pace to climb back atop this critical moving average.
  4. Following last week's news of a big blue-chip partnership, Apple Inc. (NASDAQ:AAPL) will kick off its annual Worldwide Developers Conference (WWDC) today. The tech titan is expected to launch its new mobile operating system, iOS 10, and give updates on Siri and Apple Music. Ahead of the event, shares of AAPL are down 0.8%.
  5. After disappointing data for its blood disorder treatment, AG-519, on Friday, Agios Pharmaceuticals Inc (NASDAQ:AGIO) over the weekend presented upbeat data on AG-348. This morning, both Canaccord Genuity and J.P. Morgan Securities upgraded the stock, sending the shares up 9% in electronic trading.

Buzz Stocks June 13



Earnings and Economic Data

There are no economic reports worth noting today. The earnings calendar is relatively empty, as well. 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
 

You Don’t Need 25 Alerts -- You Need ONE You Can Trust!

That’s the idea behind Trade of the Week, Schaeffer’s newest trade alert.

Every Monday morning before the opening bell, you’ll receive a single, expertly researched trade recommendation -- built from the same proprietary research we’ve been using for over four decades.

It’s not just a signal.

It’s a plan designed for traders who are tired of jumping from alert to alert without ever finding their edge.

No juggling alerts. No switching directions mid-week. Just one clear, expertly researched trade idea -- delivered before the market even opens.

👉 JOIN RIGHT NOW FOR JUST $1 TO GET THE NEXT TRADE!