Dow Jones Industrial Average Futures Higher After Payrolls

The Wall Street Freshman Up Over 250%

Sep 2, 2016 at 9:18 AM
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Dow Jones Industrial Average (DJIA) futures are signaling a higher open, as stocks react to the August payrolls report, which is diminishing expectations for a Fed rate hike later this month. The U.S. added a 151,000 nonfarm jobs last month, while the unemployment rate stayed at 4.9%, falling short of expectations for 180,000 jobs and 4.8% unemployment.

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

160902OV12

Futures on the Dow Jones Industrial Average (DJIA) are about 50 points above fair value.

5 Things You Need to Know Today
 

  1. Asian markets finished mostly higher as crude futures rose and traders looked ahead to the release of the U.S. nonfarm payrolls report.
  2. The Chicago Board Options Exchange (CBOE) saw 776,773 call contracts traded on Thursday, compared to 542,775 put contracts. The resultant single-session equity put/call ratio remained at 0.70, while the 21-day moving average rose to 0.63.
  3. VeriFone Systems Inc (NYSE:PAY) is looking at another post-earnings bloodbath, down 16.1% in pre-market trading, after unveiling weaker-than-expected sales and slashing its full-year forecast. The electronic payment system stock saw downgrades to "neutral" from Wedbush and Piper Jaffray, and no fewer than six price target cuts, including a drop to $15 from $19 by Deutsche Bank.
  4. Lululemon Athletica inc. (NASDAQ:LULU) is set to open down 8.5%, after announcing earnings last night, much to the delight of its option bears. The athletic apparel retailer reported lackluster sales growth, although per-share earnings were in line with expectations.
  5. Tesla Motors Inc (NASDAQ:TSLA) is up 1% in electronic trading, following yesterday's tumble. TSLA fell to two-month-low territory after news broke of some M&A math mistakes regarding its buyout of SolarCity Corp (NASDAQ:SCTY)

Buzz Stocks September 2

Earnings and Economic Data

Factory orders are due, and Richmond Fed President Jeffrey Lacker is slated to deliver a speech at 1 p.m. ET. There are no notable earnings scheduled. To see what is coming up on next week's schedule, click here

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