Dow Jones Industrial Average Futures Signal a Breather

The SPY Strike to Watch This Options Expiration Week

Aug 16, 2016 at 9:22 AM
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Dow Jones Industrial Average (DJIA) futures are set to drop at the open, following yesterday's record-high finish, as stocks slip overseas. While traders take a breather, Wall Street is digesting the latest batch of earnings and economic reports. Most notably, Dow stock Home Depot Inc (NYSE:HD) upped its full-year forecast, the consumer price index (CPI) remained flat, as expected, and housing starts rose by more than anticipated in July. 

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

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Futures on the Dow Jones Industrial Average (DJIA) are 36 points below fair value.

5 Things You Need to Know Today
 

  1. A rising euro has European stocks sliding.
  2. The Chicago Board Options Exchange (CBOE) saw 965,214 call contracts traded on Monday, compared to 493,750 put contracts. The resultant single-session equity put/call ratio fell to 0.51, while the 21-day moving average remained at 0.63.
  3. Dicks Sporting Goods Inc (NYSE:DKS) is set to open 8.9% higher -- and touch fresh annual highs -- after the athletic retailer reported solid earnings and offered up stronger-than-expected full-year guidance. "We are pleased with our second quarter results, particularly in light of the liquidation activity in the market," said CEO Edward W. Stack, referring to the recent Sports Authority closures.
  4. Aetna Inc (NYSE:AET) is headed modestly higher, after the insurance giant said it will only offer "Obamacare" coverage in four states next year, compared to 15 states currently. The company attributed the move to persistent financial losses, though AET isn't the first insurer to announce plans to scale back Affordable Care Act options
  5. SINA Corp (NASDAQ:SINA) is poised to open fractionally higher -- adding to its post-earnings momentum -- after Nielsen announced a collaboration with SINA-subsidiary Sina Wiebo, a popular social media platform in China. The Weibo-Nielsen Sports Popularity Ranking will provide real-time sports information to consumers.

Buzz Stocks August 16

Earnings and Economic Data

Atlanta Fed President Dennis Lockhart will speak this afternoon. Stepping into the earnings spotlight will be Advanced Auto Parts (AAP), Cree (CREE), TJX Companies (TJX), and Urban Outfitters (URBN). To see what is coming up on this week's schedule, click here

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