BoE Decision Boosts Dow Jones Industrial Average Futures

Dow Jones Industrial Average (DJIA) futures are comfortably above fair value this morning, with big central bank news out of the U.K. serving as a boon to global stocks. Specifically, the Bank of England (BoE) cut interest rates for the first time since 2009, to help "support the necessary adjustments of the U.K. economy during a period of heightened uncertainty" following the "Brexit" vote. In other news, weekly jobless claims in the U.S. came in just slightly higher than expected, and crude oil for September is holding just above the key $40-per-barrel level.

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

• Learn how this options strategy can safeguard your stock portfolio.
• Why one analyst thinks you should buy Zynga Inc (NASDAQ:ZNGA) ahead of earnings tonight.
• Surprise profits had call players rushing to this video game maker's options pits.
• Plus... BoE stimulus boosts Europe, Tesla disappoints, and Square bounds higher on earnings.

Futures on the Dow Jones Industrial Average (DJIA) are 24 points above fair value.

5 Things You Need to Know Today
 

1. The BoE not only cut interest rates to record-low levels, but also expanded its stimulus program, sending stocks in Europe higher at midday.
2. The Chicago Board Options Exchange (CBOE) saw 748,938 call contracts traded on Wednesday, compared to 442,592 put contracts. The resultant single-session equity put/call ratio fell to 0.59, while the 21-day moving average slid back to 0.63.
3. Options bulls may be disappointed, after Tesla Motors Inc (NASDAQ:TSLA) reported a quarterly per-share loss more than double what analysts expected, with revenue also falling short. Still, the shares are 0.3% higher ahead of the bell, perhaps on the promise of 50,000 vehicle deliveries in the second half of the year.
4. Oil-and-gas concern Chesapeake Energy Corporation (NYSE:CHK) is down 5.5% in pre-market trading, after the company reported a wider-than-predicted second-quarter loss, as well as revenue that fell far short of expectations. However, CHK upped its full-year production guidance.
5. A slimmer-than-expected second-quarter loss has Square Inc (NYSE:SQ) booming, up 19.4% ahead of the open -- set for its best day since its debut. No fewer than six analysts have already weighed in with upwardly revised price targets on the stock.

Earnings and Economic Data

June factory orders will be released today. LinkedIn (LNKD), Priceline (PCLN), TASER International (TASR), Nokia (NOK), and FireEye (FEYE) will step up to the earnings confessional, as well as Activision Blizzard (ATVI), BioMarin Pharmaceutical (BMRN), Gogo Inc (GOGO), Hecla Mining (HCLA), Kellogg (K), MGM Resorts (MGM), Monster Beverage (MNST), Regeneron Pharmaceuticals (REGN), Relypsa (RLYP), Symantec (SYMC), Take-Two Interactive Software (TTWO), Teva Pharmaceutical (TEVA), Tripadvisor (TRIP), Viacom (VIAB), Zillow Group (ZG), and ZNGA. To see what's coming up on this week's schedule, click here. 

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