Stimulus Buzz Boosts Dow Jones Industrial Average Futures

Why More Highs May Be in Store for Booming NVIDIA

by Karee Venema

Published on Jul 11, 2016 at 9:04 AM

Dow Jones Industrial Average (DJIA) futures are trading above fair value, as fresh stimulus expectations from Japan stoke the bullish flames. With the Dow eyeing a positive start, the broader S&P 500 Index (SPX) is also looking to build on Friday's big gains -- and could take aim at another notable milestone. Amid an empty economic calendar, earnings season will be in focus, with aluminum giant Alcoa Inc (NYSE:AA) stepping up to the plate after the close. Additionally, stocks will likely react to a mid-morning speech from Kansas City Fed President Esther George, while traders will also keep an eye trained on oil prices. At last check, August-dated crude futures were down 0.4% at $45.22 per barrel.

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

Dow futures July 11

Futures on the Dow Jones Industrial Average (DJIA) are 50 points above fair value.

5 Things You Need to Know Today

  1. Weekend election results out of Japan are sending overseas stocks comfortably higher.
  2. The Chicago Board Options Exchange (CBOE) saw 896,569 call contracts traded on Friday, compared to 468,793 put contracts. The resultant single-session equity put/call ratio fell to 0.52, while the 21-day moving average remained at 0.70.
  3. Shares of Yahoo! Inc. (NASDAQ:YHOO) are off more than 1% in electronic trading, after getting downgraded at SunTrust Robinson and Monness Crespi Hardt. The former brokerage firm said the sale of YHOO's core assets could prompt a "sell the news" situation for the stock, while the sale of the internet issue's stake in Alibaba Group Holding Ltd (NYSE:BABA) appears to be "convoluted and complex."
  4. Tesla Motors Inc (NASDAQ:TSLA) CEO Elon Musk tweeted over the weekend about his plans to unveil a "Top Secret Tesla Masterplan" later this week. The shares of the electric car company have been hit with a round of bearish brokerage notes of late, but are pointed 1.3% higher ahead of the bell.
  5. In the latest biotech M&A buzz, Japanese drugmaker Nichi-Iko Pharmaceutical Co. has agreed to purchase Illinois-based Sagent Pharmaceuticals Inc (NASDAQ:SGNT) in an all-cash deal worth $736 million to expand its presence in the U.S. Shares of SGNT are set to surge 40% out of the gate.

Buzz stocks July 11 2016

Earnings and Economic Data

The economic calendar is relatively empty today. However, Cleveland Fed President Loretta Mester will give a speech in the evening. To see what else is on this week's schedule, click here

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