Dow Jones Industrial Average Futures Eye Eighth Straight Loss

Debunking the S&P 'Coil Pattern'

Aug 3, 2016 at 9:08 AM
facebook X logo linkedin

Dow Jones Industrial Average (DJIA) futures are just below fair value yet again this morning, suggesting the index could extend its losing streak to an eighth day -- which would mark its longest downturn since 2011. Global stocks are reacting to Tuesday's stimulus disappointment out of Japan, but encouraging jobs data ahead of Friday's closely watched payrolls report is helping to limit losses. Specifically, the U.S. added 179,000 private-sector jobs in July -- slightly better than the 170,000 predicted -- according to ADP. Elsewhere, crude oil prices are bouncing back somewhat, but the September contract for crude is still seated below the $40-per-barrel mark.  

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

Dow Futures August 3

Futures on the Dow Jones Industrial Average (DJIA) are roughly 5 points below fair value.

5 Things You Need to Know Today

  1. Markets in Asia digested Japan's stimulus news, sending stocks broadly lower despite some upbeat earnings reports.
  2. The Chicago Board Options Exchange (CBOE) saw 737,879 call contracts traded on Tuesday, compared to 530,144 put contracts. The resultant single-session equity put/call ratio stayed put at 0.72, while the 21-day moving average edged higher to 0.64.
  3. Strong second-quarter sales and earnings have Fitbit Inc (NYSE:FIT) up more than 7% in electronic trading. The price action could have FIT short sellers sweating today.
  4. Online retailer Etsy Inc (NASDAQ:ETSY) is up 2.7% ahead of the bell, after the company reported 39% revenue growth for the last quarter and raised its full-year guidance -- news that has already been met with upbeat analyst attention. 
  5. Humana Inc (NYSE:HUM) easily beat estimates for second-quarter earnings and revenue. The Aetna Inc (NYSE:AET) acquisition target also said it would severely reduce its "Obamacare" participation.

Buzz Stocks August 3

Earnings and Economic Data

The day's economic reports include the ISM non-manufacturing index and the weekly update on crude inventories. On the earnings front, Tesla Motors (TSLA)Transocean LTD (RIG)Herbalife (HLF)3D Systems (DDD), Agrium (AGU), Autohome (ATHM), AVG Tech (AVG), Boyd Gaming (BYD), CF Industries (CF), Clorox (CLX), Crocs (CROX), Ctrip (CTRP), Delphi Automotive (DLPH)GoDaddy (GDDY)Intellia Therapeutics (NTLA)Kate Spade (KATE), Marathon Oil (MRO), Metlife (MET), Office Depot (ODP), Prudential Financial (PRU), Sequenom (SQNM), and Time Warner (TWX) are expected to report. To see what's coming up on this week's schedule, click here

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

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI