Dow Jones Industrial Average Futures Boom on Upbeat Jobs Report

2 Olympic Sponsors Presenting an Options-Buying Bargain

Aug 5, 2016 at 9:09 AM

ZNGA
PCLN
FEYE
MON
DJIA
CF

The Dow Jones Industrial Average (DJIA) could be on pace to erase its weekly losses today, with futures above fair value and the U.S. nonfarm payrolls report taking center stage. Specifically, 255,000 jobs were added in the month of July, compared to the 180,000 expected, while the May and June numbers were upwardly revised. Meanwhile Thursday's stimulus news from the Bank of England (BoE) continues to be a boon for most global stocks.

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

2 Olympic sponsors presenting an options-buying bargain.
The rumors that had Monsanto Company (NYSE:MON) option bulls betting on new highs.
Why CF Industries Holdings, Inc. (NYSE:CF) was relegated to the short-sale restricted list.
Plus... Europe keeps the post-BoE party alive, FireEye hands out pink slips, and Priceline puts the heat on option bears.

Dow Futures August 5 2

Futures on the Dow Jones Industrial Average (DJIA) are roughly 88 points above fair value.

5 Things You Need to Know Today

Stocks is Europe are higher at midday as Thurday's BoE interest rate cut continues to boost markets.
The Chicago Board Options Exchange (CBOE) saw 739,840 call contracts traded on Thursday, compared to 481,424 put contracts. The resultant single-session equity put/call ratio climbed to 0.65, while the 21-day moving average edged lower to 0.62.
Cybersecurity firm FireEye Inc (NASDAQ:FEYE) is set to slide nearly 15% at the open, after the company reported lower-than-expected quarterly revenue, cut its full-year sales forecast, and announced plans to lay off up to 400 workers. The news has earned FEYE a slew of negative analyst attention already this morning.
No fewer than 13 brokerages have increased their price targets on Priceline Group Inc (NASDAQ:PCLN), after the company reported strong second-quarter earnings and issued a current-quarter outlook in line with expectations. The shares are up 5.8% in electronic trading, which could have option bears sweating.
It looks like one analyst's upgrade on Zynga Inc (NASDAQ:ZNGA) may have been premature, as the shares are off 6.7% ahead of the bell following the company's quarterly report. While earnings fell in line with expectations, ZNGA's current-quarter bookings forecast came up short of analysts' predictions

Buzz Stocks August 5

Earnings and Economic Data

On the economic front, July's nonfarm payrolls report and consumer credit stats will hit, as well as the international trade balance. The earnings agenda is a bit quieter, with notable earnings reports due from Berkshire Hathaway (BRK.B), Cognizant Technology Solutions (CTSH), Virgin America (VA), and Weyerhaeuser (WY). To see what's coming up on next week's schedule, click here.

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

Follow @Schaeffers

The $25K Day Trading Barrier is Gone

The long-standing Pattern Day Trader (PDT) rule that required many traders to maintain a $25,000 account balance is no longer standing in the way.

That means more traders can actively pursue short-term opportunities without the barrier that kept so many on the sidelines.

Now it's all about having the right strategy.

Dynamite Day Trading Signals helps you hit the ground running with up 2 options trade alerts per week, built to capture fast-moving opportunities.

👉 Sign up now to receive the next trade