Dow Jones Industrial Average Futures Ride Jobs Momentum Higher

Dow Jones Industrial Average (DJIA) futures are slightly above fair value, riding higher on momentum from last Friday's rock-solid jobs report. The payrolls data is helping stocks shrug off disappointing trade numbers out of China, as is a bounce in oil prices. At last check, September-dated crude futures are 2% higher at $42.65 per barrel, amid reports of clamoring by several Organization of the Petroleum Exporting Countries (OPEC) members to curb production.

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

• How options traders are playing this Brazil-tracking ETF amid Olympics fever.
• Lifelock Inc (NYSE:LOCK) took off amid strategic alternative talk.
• A sector peer's misfortune set one drugmaker's options pits on fire.
• Plus... China's trade setback, Delta flights delayed, and Wal-Mart's historic acquisition.

Futures on the Dow Jones Industrial Average (DJIA) are roughly 7.5 points above fair value.

5 Things You Need to Know Today
 

1. Stocks in Asia ran higher, despite a round of underwhelming Chinese trade data.
2. The Chicago Board Options Exchange (CBOE) saw roughly 1 million call contracts traded on Friday -- the most since late April -- compared to 531,228 put contracts. The resultant single-session equity put/call ratio fell to 0.52, while the 21-day moving average remained at 0.62.
3. Delta Air Lines, Inc. (NYSE:DAL) experienced a system-wide computer failure overnight that has left thousands of passengers stranded at airports throughout the world. The airline's latest fundamental setback has its stock down 2% pre-market.
4. Confirming earlier speculation, Wal-Mart Stores, Inc. (NYSE:WMT) has reportedly agreed to purchase e-tail issue Jet.com for $3 billion -- representing the biggest e-commerce acquisition ever.
5. Amazon.com, Inc.'s (NASDAQ:AMZN) office in Japan has been raided by antitrust regulators on suspicion of pressuring retailers to offer better terms to AMZN than they do its competitors, according to a Nikkei report. Nonetheless, the red-hot stock has edged higher in pre-market trading.

Earnings and Economic Data

The economic calendar is bare. Allergan (AGN), Clovis Oncology (CLVS), Dean Foods (DF), Endo International (ENDP), Hertz Global (HTZ), Horizon Pharma (HZNP), Inovio Pharmaceuticals (INO), Kite Pharma (KITE), Opko Health (OPK), Sina Corp (SINA), Twilio (TWLO), Tyson Foods (TSN), Vivint Solar (VSLR), and Weibo (WB) will all report earnings. To see what else is coming up on this week's schedule, click here. 

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