Dow Jones Industrial Average Futures Signal Triple-Digit Rebound

The Critical Post-'Brexit' Volatility Level to Watch

by Kirra Fedyszyn

Published on Jun 28, 2016 at 9:11 AM

Dow Jones Industrial Average (DJIA) futures are comfortably above fair value, indicating a triple-digit start higher as global markets bounce back from two days of heavy post-"Brexit" losses. This morning's final first-quarter gross domestic product (GDP) reading was upwardly revised to 1.1% growth for the period -- slightly better than the 1% expected. Also helping stocks, a possible strike in the Norwegian oil and gas industry is boosting oil prices. August-dated crude oil was last spotted up 2.6% at $47.54 per barrel.

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

Dow Futures June 28

Futures on the Dow Jones Industrial Average (DJIA) are roughly 159 points above fair value.

5 Things You Need to Know Today
 

  1. Banking stocks lead the gainers in Europe, as worldwide markets begin to recover post-"Brexit" losses.
  2. The Chicago Board Options Exchange (CBOE) saw 876,090 call contracts traded on Monday, compared to 713,937 put contracts. The resultant single-session equity put/call ratio fell to 0.81, while the 21-day moving average edged up to 0.68.
  3. SolarCity Corp's (NASDAQ:SCTY) board of directors appointed two members to evaluate Tesla Motors Inc's (NASDAQ:TSLA) $2.8 billion buyout offer. While there is no clear answer on whether a deal between the two Elon Musk-headed companies will happen, SCTY stock is pointed 3% higher in electronic trading.
  4. After being halted for news, the shares of biotech stock Regulus Therapeutics Inc (NASDAQ:RGLS) plunged more than 51% ahead of the open. The company announced that its investigational hepatitis C drug has been placed on clinical hold by the U.S. Food and Drug Administration (FDA).
  5. Recently troubled LendingClub Corp (NYSE:LC) is set to add 4.7% at the open, after the company said it will eliminate 179 positions. LendingClub also reported that Scott Sanborn, currently acting chief executive, will become the permanant CEO.

Buzz Stocks June 28

Earnings and Economic Data

The Conference Board's consumer confidence survey and the S&P/Case-Shiller home price index will be released. Nike (NKE), Carnival Corp (CCL), and IHS Inc. (IHS) will step up to the earnings stage. To see what else is coming up on this week's schedule, click here

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