Dow Jones Industrial Average Futures Drop Amid Fed Caution

The Social Network On the Verge of 'Significant' Growth

Aug 22, 2016 at 9:24 AM
facebook X logo linkedin


Dow Jones Industrial Average (DJIA) futures are set to drop, after Federal Reserve Vice Chairman Stanley Fischer on Sunday said the central bank's inflation and unemployment targets were well within reach. Traders are exercising caution ahead of a speech by Fed Chair Janet Yellen on Friday, which could provide hints about the timing of the next rate hike. U.S. stocks are also keeping an eye on oil prices, as September-dated crude futures are down 2.6% at $47.28 per barrel, as supply glut worries resurface.

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

160822OV1

Futures on the Dow Jones Industrial Average (DJIA) are 40 points below fair value.

5 Things You Need to Know Today
 

  1. Struggling energy stocks are weighing on European markets today, with mining stocks also pulling markets lower.
  2. The Chicago Board Options Exchange (CBOE) saw 939,736 call contracts traded on Friday, compared to 563,858 put contracts. The resultant single-session equity put/call ratio rose to 0.60, while the 21-day moving average remained at 0.62.
  3. Medivation Inc (NASDAQ:MDVN) is set to soar 20% at the open, and touch record highs, after Pfizer Inc. (NYSE:PFE) announced plans to buy the firm for about $14 billion, or $81.50 per share. The offer is a notable premium to Sanofi SA's (ADR) (NYSE:SNY) bid in late April, which was ultimately rejected by MDVN.
  4. Valeant Pharmaceuticals Intl Inc (NYSE:VRX) is poised to open up 3.3%, after naming Paul Herendeen, former Zoetis Inc (NYSE:ZTS) executive, as its new CFO. The pharmaceutical concern is attempting to regain investor confidence after its price gouging scandal last year, and amid legal drama with one of its major investors.
  5. Syngenta AG (ADR) (NYSE:SYT) is set to open up 10.7%, after a U.S. national security panel cleared ChemChina's $43 billion takeover of the firm. If approved, it would be the biggest-ever acquisition made by a Chinese company.

Buzz Stocks August 22

Earnings and Economic Data

There are no notable economic reports slated for Monday. Scheduled to report earnings are NQ Mobile (NQ) and Zoe's Kitchen (ZOES). To see what else is 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 C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI