Dow Jones Industrial Average Futures Nosedive After Chinese Data

Apple's Longest Win Streak In More Than a Year

Oct 13, 2016 at 9:13 AM
facebook X logo linkedin

Dow Jones Industrial Average (DJIA) futures are signaling a triple-digit drop at the open, as stocks react to weak trade data out of China and the latest unemployment stats. Specifically, Chinese exports fell by much more than expected last month, while weekly U.S. jobless claims remained near a 43-year low. This comes just a day after the Fed's September meeting minutes revealed the U.S. economy could withstand a rate hike "relatively soon." 

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

U.S. Stock futures October 13

Futures on the Dow Jones Industrial Average (DJIA) are 115 points below fair value. 

5 Things You Need to Know Today
  1. Disappointing data out of China sent Hong Kong stocks notably lower
  2. The Chicago Board Options Exchange (CBOE) saw 537,188 call contracts traded on Wednesday, compared to 345,367 put contracts. The resultant single-session equity put/call ratio fell to 0.64, while the 21-day moving average stayed at 0.65.
  3. Wells Fargo & Co (NYSE:WFC) CEO John Stumpf has retired in the wake of the scandals that have rocked the firm in recent weeks. President and Chief Operating Officer Tim Sloan takes over as CEO for WFC, effective immediately. In the meantime, the stock is up 1.5% ahead of the open, as it fights back from its two-year lows from earlier this month. 
  4. Also moving higher in pre-market trading is Sony Corp (ADR) (NYSE:SNE), as buzz begins to build surrounding the tech company's virtual reality headset, which goes on sale today. According to CNBC, Best Buy Co Inc (NYSE:BBY) and GameStop Corp. (NYSE:GME) had to open early to meet demand. SNE has already put in a solid 2016, gaining nearly 33%. 
  5. Keeping this losing theme, blue chip Pfizer Inc. (NYSE:PFE) is down 1.3% ahead of the opening bell, on news the drugmaker lost its patent case in Britain for its pain drug Lyrica. At $33.07, PFE has already lost 11.6% since peaking at $37.39 back in August, with disappointing quarterly results initiating the downturn. Meanwhile, Jefferies downgraded to stock to "hold" from "buy." 

Buzz Stocks Oct 13

Earnings and Economic Data

Import and export prices, weekly crude inventories, and the Treasury budget are also on today's economic docket. Philadelphia Federal Reserve President Patrick Harker is slated to speak in the afternoon. As for earnings, Progressive (PGR) and Taiwan Semiconductors (TSM) will be in the spotlight. 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

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI