DJIA futures are up triple digits, as chances of a "Brexit" appear to be shrinking
Dow Jones Industrial Average (DJIA) futures are sitting significantly above fair value, after a pair of weekend opinion polls revealed increasing odds that Britain will remain in the European Union (EU), just days ahead of the
"Brexit" vote. In stock news, Walt Disney Co (NYSE:DIS) could lead Dow stocks higher, after the company's movie "Finding Dory" set an opening weekend box office record for animated films. Meanwhile, oil is hot, with July-dated crude futures up 1.9% at $48.87 per barrel. Looking ahead, things will really pick up tomorrow, when Fed Chair Janet Yellen begins her
two-day testimony on Capitol Hill.
Continue reading for more on today's market, including:
Futures on the Dow Jones Industrial Average (DJIA) are nearly 206 points above fair value.
5 Things You Need to Know Today
- A cooling yen boosted Japanese markets, while European stocks are sizzling on the aforementioned "Brexit" polls.
- The Chicago Board Options Exchange (CBOE) saw 918,995 call contracts traded on Friday -- the most since late April -- compared to 577,087 put contracts. The resultant single-session equity put/call ratio plunged to 0.63, while the 21-day moving average edged down to 0.66.
- Amid overseas iPhone woes, Apple Inc. (NASDAQ:AAPL) has reportedly decided to pull support from the Repbulican National Convention. The decision is allegedly linked to presumptive nominee Donald Trump's divisive remarks on immigration and other topics, as well as the billionaire's call to boycott AAPL earlier this year over its refusal to comply with an FBI request.
- According to The Wall Street Journal, U.S. antitrust regulators are concerned about Anthem Inc's (NYSE:ANTM) planned CIGNA Corporation (NYSE:CI) acquisition. Officials from both insurance firms will reportedly meet with the Justice Department this week to discuss the matter.
- Shares of Marathon Oil Corporation (NYSE:MRO) are 3.3% higher pre-market, after the energy giant agreed to buy privately held PayRock Energy Holdings from EnCap Investments for close to $900 million. This marks a change of pace for the firm, which recently sold $950 million worth of non-core assets.
Earnings and Economic Data
Minneapolis Fed President Neel Kashkari will take the mic. There are no notable earnings to report. To see what else is coming up on this week's schedule, click here.
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