Dow Jones Industrial Average Futures Higher After Fed Decision

The Signal That Called the 1Q Plunge Just Went Off Again

Sep 22, 2016 at 9:09 AM
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Dow Jones Industrial Average (DJIA) futures are signaling a higher start, as stocks look to extend their rally in the wake of yesterday's Fed decision to leave interest rates unchanged until at least December, as well as the Bank of Japan's (BoJ) policy announcement. In addition, weekly jobless claims came in lower than expected, falling to a two-month low, and November-dated crude oil futures are 1.8% higher at $46.15 per barrel, with help from a weaker dollar. 

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

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Futures on the Dow Jones Industrial Average (DJIA) are about 82 points above fair value.

5 Things You Need to Know Today
 

  1. European benchmarks are higher at midday, led by a rally in bank and energy stocks.
  2. The Chicago Board Options Exchange (CBOE) saw 785,710 call contracts traded on Wednesday, compared to 495,530 put contracts. The resultant single-session equity put/call ratio fell to 0.63, while the 21-day moving average remained at 0.63.
  3. AutoZone, Inc. (NYSE:AZO) is up 0.1% in electronic trading, after reporting earnings this morning. The auto parts retailer, which yesterday managed to close above the $750 level, beat per-share earnings expectations, while coming in just under expected sales. AZO also announced it would be bumping up its share buyback program for $750 million.
  4. Alibaba Group Holding Ltd (NYSE:BABA)is pointed 2% higher -- and could hit record heights -- after Stifel raised its price target to $125 from $104. BABA is already up over 30% so far this year, with the Chinese e-tailer receiving plenty of bullish attention in the option pits as of late.
  5. SeaWorld Entertainment Inc (NYSE:SEAS) is set to open up 3.4%, thanks to an upgrade to "buy" from "neutral" by Citigroup. This upbeat analyst attention is likely welcome for SEAS, which touched a record low earlier this week.

Buzz Stocks Sept 22

Earnings and Economic Data

Data on existing home sales will be released, as well as the Fed's balance sheet and the index of leading economic indicators. Rite Aid (RAD) will report earnings.To see what else is coming up on this week's schedule, click here

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