Dow Jones Industrial Average Futures Fall Ahead of PMI, Fed Talk

The Biotech Hitting 14-Year Highs

Sep 23, 2016 at 9:17 AM
facebook twitter linkedin

Dow Jones Industrial Average (DJIA) futures are signaling a lower start, with stocks set to snap a three-day winning streak as Fed-induced tailwinds begin to wane. Traders are looking toward a handful of speeches by Fed officials, as well as the release of the Markit purchasing managers manufacturing index (PMI) -- though similar manufacturing data out of Europe wasn't very encouraging.

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


Futures on the Dow Jones Industrial Average (DJIA) are about 20 points below fair value.

5 Things You Need to Know Today

  1. European stocks are trading lower after the eurozone PMI came in lower than expected, falling to a two-year low.
  2. The Chicago Board Options Exchange (CBOE) saw 829,701 call contracts traded on Thursday, compared to 476,707 put contracts. The resultant single-session equity put/call ratio fell to 0.57, while the 21-day moving average rose to 0.64.
  3. Facebook Inc (NASDAQ:FB) is down 2.1% in electronic trading, after The Wall Street Journal said the social media stock has been inflating its video-viewing time metric by as much as 80% for over two years. FB -- which hit a record-high earlier this month -- has yet to comment. 
  4. Twitter Inc (NYSE:TWTR) is up 16% ahead of the bell -- likely to the delight of recent option buyers -- after CNBC said the firm could soon receive a formal bid from a tech company, most likely Alphabet Inc (NASDAQ:GOOGL) or, inc. (NYSE:CRM). TWTR was lower earlier, after a downgrade to "underperform" from "sector perform" and a $3 price-target cut to $14 by RBC.
  5. Yahoo! Inc. (NASDAQ:YHOO) is set to open 1.7% lower, after the company confirmed that hundreds of millions of users may have had their data compromised in a security breach. YHOO said the 2014 hack was likely a state-sponsored theft, and cryptologists are calling it the biggest known breach to date.

Buzz Stocks Sept 23

Earnings and Economic Data

The Fed will remain in the spotlight with a trio of regional Fed presidents addressing a panel in Philadelphia: Atlanta's Dennis Lockhart, Cleveland's Loretta Mester, and Philadelphia's Patrick Harker. On the earnings docket is Finish Line (FINL). To see what is coming up on next week's schedule, click here

Don't miss the market's next move! Sign up now for Schaeffer's Midday Market Check


If you are not making money with options, you aren’t buying options like this…

There is no options strategy that more perfectly approaches trading the fastest moving and most volatile stocks available in the marketplace than this one. In fact, there is no strategy that better utilizes put options for optimal returns and a real trading edge over other traders in the exact same market. New options traders fail out at an incredible rate without proper trade research, execution timing, and option picking. Capitalize on Schaeffer’s 100+ years of options trading excellence with the most coveted product launch in company history. Don't waste another second... join us right now before the next round of trades are released!

Schaeffer's Investment Research Master Portfolio Trial


Special Offers from Schaeffer's Trading Partners