Dow Jones Industrial Average Futures Slip; 'Brexit,' Apple in Focus

The Cybersecurity Stock Fending Off Suitors

Jun 17, 2016 at 9:11 AM
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After snapping its dismal losing streak on Thursday, the Dow Jones Industrial Average (DJIA) is signaling a choppy start, as traders assess tragic developments overseas. Specifically, the murder of a U.K. lawmaker put a hold on "Brexit" campaigns ahead of next Thursday's referendum. Stocks will also be reacting to rising oil prices -- with July-dated crude futures up 2.2% at $47.23 per barrel -- as well as relatively dovish comments from St. Louis Fed President James Bullard, who called for just one rate hike through 2018. Elsewhere, housing starts fell 0.3% in May, while building permits rose 0.7%. In stock news, Dow component Apple Inc. (NASDAQ:AAPL) is pointed lower after it was ordered to halt iPhone 6 and iPhone 6 Plus sales in Beijing, following a patent ruling. Against this busy backdrop, Dow futures were last seen just below fair value.

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

Dow futures June 17

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

5 Things You Need to Know Today
 

  1. The suspension of "Brexit" campaigns is helping to lift global stocks, while Japan's Finance Minister Taro Aso weighed in on the yen's "rapid" move.
  2. The Chicago Board Options Exchange (CBOE) saw 728,333 call contracts traded on Thursday, compared to 563,198 put contracts. The resultant single-session equity put/call ratio jumped to 0.77, while the 21-day moving average remained at 0.67.
  3. Lumber Liquidators Holdings Inc (NYSE:LL) is up more than 12% in pre-market trading, after the retailer said it would not resume sales of its China-made laminate flooring. The company has been under scrutiny -- and the shares have been plunging -- since a "60 Minutes" episode in March 2015 alleged the product contained high levels of carcinogens.
  4. Smith & Wesson Holding Corp (NASDAQ:SWHC) reported fiscal fourth-quarter adjusted earnings of 63 cents per share, on sales of $221.1 million. The results handily beat expectations, and were met with a round of applause from the brokerage bunch. As such, shares of the firearms maker are up 10% ahead of the bell -- and could take out this pesky overhead trendline.
  5. Amid a week chock-full of M&A news, Elizabeth Arden, Inc. (NASDAQ:RDEN) is 48% higher in pre-market trading, after Revlon Inc (NYSE:REV) agreed to purchase the cosmetics firm in a deal valued at $870 million. Shares of REV are up 0.5% ahead of the bell.

Buzz Stocks June 17

Earnings and Economic Data

Housing starts are due out on Friday, which also represents quadruple witching expiration. There are no notable earnings reports scheduled. To see what is coming up on next week's schedule, click here

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