Dow Jones Industrial Average Futures Higher Ahead of Manufacturing Data

Is It Time to Dump Utilities?

Sep 1, 2016 at 9:05 AM
facebook X logo linkedin

Dow Jones Industrial Average (DJIA) futures are pointed slightly higher ahead of the open, with the Dow attempting to shake off its first monthly loss since January ahead of a slew of economic reports due out today -- including Markit's manufacturing PMI and the Institute for Supply Management's (ISM) manufacturing index. Already being digested by traders is a smaller-than-forecast rise in weekly jobless claims, which is giving stocks an early boost before the official start of trading. 

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


Futures on the Dow Jones Industrial Average (DJIA) are about 33 points above fair value.

5 Things You Need to Know Today

  1. European stocks are headed up at midday, thanks to recovering oil prices.
  2. The Chicago Board Options Exchange (CBOE) saw 666,219 call contracts traded on Wednesday, compared to 468,917 put contracts. The resultant single-session equity put/call ratio rose to 0.70, while the 21-day moving average rose to 0.62.
  3. Cloud computing specialist, inc (NYSE:CRM) is set to open down 7%, after the company released a delayed earnings report last night, which included a soft third-quarter revenue forecast. Since releasing its quarterly results, no fewer than six brokerage firms have issued price-target cuts for CRM, including a cut to $85 from $100 by Mizuho.
  4. Wynn Resorts, Limited (NASDAQ:WYNN) is up 4.3% in pre-market trading, following the news that monthly gambling revenue in Macau -- where WYNN operates one of its properties -- is up for the first time in two years. After completing a triple-top near the $104 level earlier this month, the casino stock has lately been testing support around the $88 area.
  5. Deutsche Bank AG (USA) (NYSE:DB) is poised to jump 3.7% at the open as its corporate conference kicks off. The financial stock, which has struggled this year, is rallying on rumors of a merger with Commerzbank AG -- although German financial watchdogs are warning that if such a merger did occur, it would hardly be a panacea for European financial woes.

Buzz stocks September 1 2016

Earnings and Economic Data

Today's busy economic calendar includes motor vehicle sales and construction spending. Additionally, Cleveland Fed President Loretta Mester will take the podium at midday. Ambarella (AMBA)Broadcom (AVGO), Campbell Soup (CPB), Joy Global (JOY), Smith & Wesson (SWHC), Vera Bradley (VRA), VeriFone Systems (PAY), and Lululemon Athletica (LULU) will step up to the earnings mic. 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 calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI