Dow Jones Industrial Average Futures Gain Following ADP Report

23 Stocks Flashing a Contrarian Signal Right Now

Oct 5, 2016 at 9:09 AM
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Dow Jones Industrial Average (DJIA) futures are trading above fair value, as U.S. stocks look to break a two-day losing streak. In focus this morning is the ADP private-sector employment report for September, which revealed the slowest monthly job growth since April, with 154,000 jobs added. With hawkish Fed commentary still lingering, the report provides some insight on the economy for traders ahead of Friday's highly anticipated nonfarm payrolls report. Meanwhile, oil prices are gaining ahead of today's domestic crude inventories report, with November-dated crude futures last seen 1.8% higher at $49.56 per barrel. 

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

U.S. Stock Futures October 5

Futures on the Dow Jones Industrial Average (DJIA) are almost 58 points above fair value. 

5 Things You Need to Know Today
  
  1. Speculation surrounding the European Central Bank (ECB) is pressuring stocks in Europe
  2. The Chicago Board Options Exchange (CBOE) saw 805,202 call contracts traded on Tuesday, compared to 410,635 put contracts. The resultant single-session equity put/call ratio fell to 0.51 -- the lowest in roughly one month -- while the 21-day moving average dropped to 0.64.
  3. It's been a fantastic year for semiconductor stock Micron Technology, Inc. (NASDAQ:MU), with the shares boasting a year-to-date gain of 25.7% as of Tuesday's close of $17.80. However, the stock is looking at a 1.3% drop when the market opens today, as some traders sweat the company's current-quarter guidance. Options traders, unfortunately, had been betting on MU moving higher post-earnings. 
  4. Twitter Inc (NYSE:TWTR) is up almost 4% ahead of the bell, after The Wall Street Journal reported the social media company could begin to take buyout bids this week. As prior rumors suggested, Walt Disney Co (NYSE:DIS), salesforce.com, inc. (NYSE:CRM), and Alphabet Inc (NASDAQ:GOOGL) could bid on the company, though analysts have been tempering M&A expectations about a buyout price. TWTR closed Tuesday at $23.52.
  5. Despite a recent setback, networking stock Acacia Communications, Inc. (NASDAQ:ACIA) has had a ridiculous run on the charts since going public in May. At $102, the shares have gained roughly 252% since opening for trade at $29. Now, the shares are set to add another 9.3%, after the company announced preliminary third-quarter earnings and a public offering of 4.5 million shares. 

Buzz Stocks Oct 5

Earnings and Economic Data

International trade data, factory orders, and the ISM's non-manufacturing index are also due for release today. Richmond Fed President Jeffrey Lacker is due to speak after the closing bell. Acuity Brands (AYI), AngioDynamics (ANGO), Constellation Brands (STZ)Monsanto (MON), and Yum! Brands (YUM) will report earnings. To see what else is coming up on this week's schedule, click here

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