Dow Jones Industrial Average Futures Dip After Debate

The Bullish Small-Cap Indicator Signaling Long-Term Strength

Sep 27, 2016 at 9:09 AM
facebook twitter linkedin

Dow Jones Industrial Average (DJIA) futures were signaling a higher start to the day, as stocks initially reacted positively to last night's presidential debate between candidates Hillary Clinton and Donald Trump.  However, the risk-on attitude has since faded, with Dow futures a hair lower ahead of the bell. Elsewhere, November-dated crude futures are down 2.8% to $44.63 per barrel, as hopes for an output cap by Organization of the Petroleum Exporting Countries (OPEC) members were dashed by Saudi Arabia and Iran. In addition, Goldman Sachs slashed its fourth-quarter oil-price forecast to $43 from $50 per barrel. Traders are also looking ahead to the Case-Shiller home-price index due out later this morning, as well as September's consumer confidence survey results. 

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

160927OV1 2

Futures on the Dow Jones Industrial Average (DJIA) are about 1 point below fair value.

5 Things You Need to Know Today

  1. Asian stocks closed higher after Hillary Clinton was widely considered the winner of the U.S. presidential debate.
  2. The Chicago Board Options Exchange (CBOE) saw 775,354 call contracts traded on Monday, compared to 569,501 put contracts. The resultant single-session equity put/call ratio rose to 0.73, while the 21-day moving average remained at 0.65.
  3. Array Biopharma Inc (NASDAQ:ARRY) is set to pop 10.4% at the open, after its standout session yesterday, where the biotech ended up 81.1%. ARRY announced yesterday that the Phase 3 study of its melanoma treatment met its primary endpoint. The biotech has since earned no fewer than three price-target hikes, including a raise to $8 from $7 by Jefferies this morning.
  4. Walt Disney Co (NYSE:DIS) is fractionally higher in electronic trading, as traders continue to react to rumors that the entertainment giant may be considering a bid for social media concern Twitter Inc (NYSE:TWTR). DIS dropped over 1.4% yesterday, joining, inc. (NYSE:CRM) and Alphabet Inc (NASDAQ:GOOGL) on the list of potential TWTR suitors.
  5. Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) is up 2.1% in pre-market trading, as the tech stock prepares to pare some of yesterday's losses. The stock dropped nearly 20% and was placed on the short-sale restricted list, after Nomura cut the stock to "neutral" from "buy" and issued a price-target cut to $10.20 from $12.

Buzz Stocks Sept. 27

Earnings and Economic Data

Nike (NKE) and Cintas (CTAS) make up the earnings slate. 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


Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 



Special Offers from Schaeffer's Trading Partners