Bank Earnings Lift Dow Jones Industrial Average Futures

25 Stocks Ripe for Big Earnings Moves

by Josh Selway

Published on Oct 14, 2016 at 9:10 AM
Updated on Oct 14, 2016 at 9:11 AM

Dow Jones Industrial Average (DJIA) futures are trading above fair value this morning, as traders digest upbeat earnings from bank stocks JPMorgan Chase & Co. (NYSE:JPM), Citigroup Inc (NYSE:C), and Wells Fargo & Co (NYSE:WFC). It's a busy day for economic data, with retail sales and producer prices moving higher in September, and traders are awaiting afternoon speeches from Fed Chair Janet Yellen and Boston Fed President Eric Rosengren, with rate-hike fears on the rise following the September Fed meeting minutes

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

U.S. Stock Futures October 14

Futures on the Dow Jones Industrial Average (DJIA) are 66 points above fair value. 

5 Things You Need to Know Today
  
  1. Inflation data out of China boosted stocks in Asia and Europe
  2. The Chicago Board Options Exchange (CBOE) saw 669,402 call contracts traded on Thursday, compared to 3476,717 put contracts. The resultant single-session equity put/call ratio rose to 0.71, while the 21-day moving average stayed at 0.65.
  3. Banking giant JPM is on the rise in pre-market trading, after the firm topped Wall Street's estimates with its third-quarter results. After a rough start to the year, JPM has been knocking out a series of higher highs since February, sitting just below its all-time highs near the $70 mark. Call buyers will be rooting for the shares to topple this landmark
  4. On the other hand, consulting firm Infosys Ltd ADR (NYSE:INFY) is set to fall 6% at the open, after the company once again offered up a disappointing outlook. INFY was already on the wrong side of breakeven for the year, as of last night's close at $16.65, and could be on the verge of some negative analyst attention. That is, nine brokerage firms currently sit on the fence with a "hold" rating. 
  5. According to Verizon Communications Inc. (NYSE:VZ)Yahoo! Inc.'s (NASDAQ:YHOO) data breach may have been large enough for the company to renegotiate its deal to buy the internet company. Shares of YHOO took a hit yesterday, but are recovering some in pre-market trading. 

Buzz Stocks Oct 14

Earnings and Economic Data

On the data front, business inventories and consumer sentiment are all due out. Del Frisco's Restaurant Group (DFRG), INFY, and PNC Financial (PNC) will report earnings. To see what's coming up on next week's schedule, click here

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