Schaeffer's 43rd Anniversary Stock Picks in 2024

Dow Jones Industrial Average Futures Up Triple Digits

Is Valeant an 'Obvious Zero'? Plus, The $1.4M Bet On Oil

Jul 14, 2016 at 9:12 AM
facebook X logo linkedin

Dow Jones Industrial Average (DJIA) futures have surged well above fair value, after the Bank of England (BoE) unexpectedly chose to leave its interest rates unchanged. Nevertheless, the Dow is eyeing a triple-digit pop out of the gate -- on pace to extend its lead in uncharted territory -- as stocks react to solid second-quarter earnings from big bank JPMorgan Chase & Co. (NYSE:JPM). Adding to the risk-on backdrop is a bounce in oil prices -- with August-dated crude futures up 1.7% at $45.49 per barrel -- while weekly jobless claims were unchanged.

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

Dow futures July 14

Futures on the Dow Jones Industrial Average (DJIA) are nearly 160 points above fair value.

5 Things You Need to Know Today

  1. European stocks are higher in the wake of the BoE shocker, while Japan's Nikkei surged on a cooling yen.
  2. The Chicago Board Options Exchange (CBOE) saw 737,280 call contracts traded on Wednesday, compared to 413,248 put contracts. The resultant single-session equity put/call ratio fell to 0.56, while the 21-day moving average dropped to 0.67.
  3. JPM kicked off bank earnings on a high note, posting better-than-expected second-quarter results on lower costs and a 23% surge in trading revenue. The shares of JPM are pointed 2.4% higher ahead of the bell -- on track to pare a portion of their year-to-date deficit.
  4. In the wake of big spin-off news for its China division, Taco Bell owner Yum! Brands, Inc. (NYSE:YUM) reported stronger-than-forecast second-quarter profit and upped its full-year guidance. YUM stock is up 4.5% in pre-market trading.
  5. Cree, Inc. (NASDAQ:CREE) said it will sell its Wolfspeed unit to German chipmaker Infineon Technologies AG in an all-cash deal valued at $850 million. Shares of LED specialist CREE -- which have struggled since their early April bear gap -- are eyeing a 6% pop out of the gate.

Buzz Stocks July 14

Earnings and Economic Data

The producer price index (PPI) is due out today. In addition, Atlanta Fed President Dennis Lockhart and Kansas City Fed President Esther George will speak, while St. Louis Fed President James Bullard will host a two-day meeting of the Official Monetary and Financial Institutions Forum. Set to report earnings are BlackRock (BLK) and Progressive (PGR). To see what else is on this week's schedule, click here

Don't miss the market's next move! Sign up now for Schaeffer's Midday Market Check

A.I.’s Dirty Little Secret: The Real Power Behind The AI. Boom ✨

Anyone who’s seen the The Matrix movies knows that A.I. needs power.  Lots and lots of power.

If you’ve seen the movie, you also know the grizzly results of the ensuing battle for that power.

Now, Wall Street’s battle for A.I. power won’t go to such extremes. Hopefully?

A.I. needs more power and that means more opportunities for stock traders in the know.

Download your free copy of “The A.I. Revolution: 4 Stocks to Buy Now”!