Dow Jones Industrial Average Futures Soar as 'Brexit' Voting Kicks Off

The Gargantuan Gamble on Gold; Plus, 6 Healthcare Stocks Heating Up

by Alex Eppstein

Published on Jun 23, 2016 at 9:09 AM
Updated on Jun 23, 2016 at 9:14 AM

The Dow Jones Industrial Average (DJIA) is set to surge at the open, with Dow futures more than 100 points above fair value. All eyes are on the U.K., where voting has kicked off on a potential "Brexit" from the European Union (EU) -- with early polls giving the "remain" camp the lead. Meanwhile, stocks are getting a lift from rising oil prices, as July-dated crude futures were last seen 1.6% higher at $49.92 per barrel. On the data front, weekly jobless claims tumbled more than expected, totaling 259,000.

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

dow futures june 23

Futures on the Dow Jones Industrial Average (DJIA) are more than 167 points above fair value.

5 Things You Need to Know Today
 

  1. European markets are running hot ahead of the "Brexit" vote results, despite some disappointing business activity numbers.
  2. The Chicago Board Options Exchange (CBOE) saw 551,054 call contracts traded on Wednesday, compared to 424,543 put contracts. The resultant single-session equity put/call ratio jumped to 0.77, while the 21-day moving average inched up to 0.65.
  3. BlackBerry Ltd (NASDAQ:BBRY) is up 3.1% pre-market, after the handset maker's mixed earnings report and better-than-expected full-year forecast. A breakout above the $7 level could leave yesterday's put buyers kicking rocks.
  4. Retailer Bed Bath & Beyond Inc. (NASDAQ:BBBY) reported worse-than-expected quarterly earnings and sales, sending the stock down 4.2% in electronic trading. Making matters worse, no fewer than nine analysts cut their price targets on the shares. If BBBY's losses materialize, the stock could hit a fresh five-year low.
  5. Accenture Plc (NYSE:ACN) earnings were in line with Wall Street's consensus estimate, while its quarterly revenue surpassed expectations. The consulting firm also lifted its full-year earnings forecast, citing increasing margins and potential new bookings.

Buzz Stocks June 23_2

Earnings and Economic Data

Markit's flash purchasing managers index (PMI) and new home sales are due today, but all eyes will be on the "Brexit" referendum. Dallas Fed President Robert Kaplan will deliver a speech after the close. Stepping up to the earnings plate is Sonic (SONC). To see what else is coming up on this week's schedule, click here

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