Dow Jones Industrial Average Futures Up Triple Digits, Eye Record Highs

3 Healthcare Stocks Rocked By 'Worst Possible Outcome'

Nov 10, 2016 at 9:06 AM
facebook twitter linkedin

Dow Jones Industrial Average (DJIA) futures are more than 100 points above fair value, pointing to a fourth straight day of substantial gains and record intraday highs for the large-cap index. Stocks are settling in after Tuesday night's election surprise, with anxiety generally easing, despite ongoing anti-Trump protests in some major cities. Meanwhile, traders are digesting weekly jobless claims that came in slightly lower than expected, at 254,000 -- down 11,000 for the week.

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

Dow Futures November 10

Futures on the Dow Jones Industrial Average (DJIA) are 111 points above fair value.

5 Things You Need to Know Today
  1. The Chicago Board Options Exchange (CBOE) saw 1,133,177 call contracts traded on Wednesday, compared to 695,764 put contracts. The resultant single-session equity put/call ratio dropped to 0.61, while the 21-day moving average stayed flat at 0.69.
  2. After reporting earnings and revenue that topped expectations, TASER International, Inc. (NASDAQ:TASR) added 8.5% in pre-market trading. While some of Wednesday's call buyers may be applauding the news, a broader batch of bears could be kicking rocks. 
  3. Drugmaker AstraZeneca plc (ADR) (NYSE:AZN) is down 4.7% ahead of the bell, after reporting disappointing quarterly revenue. The company cited lower sales for its leading cholesterol drug, due to the emergence of several generics in the market.
  4. After popping on Wednesday, Twitter Inc (NYSE:TWTR) is on track to open 2.3% lower, perhaps to the delight on some remaining option bears. The company reported last night the departure of COO Adam Bain, who is set to be replaced by Twitter CFO Anthony Noto.
  5. St. Louis Fed President Jame Bullard is set to speak this morning, while the Treasury Budget will be released later in the day. Dow component Walt Disney (DIS), Kohl's (KSS), Macy's (M), Michael Kors (KORS), Nordstrom (JWN), NVIDIA (NVDA), and Sunrun (RUN), are among the stocks on the earnings docket.

Buzz Stocks Nov 10

Overseas Trading

Asian stocks finished higher, reversing yesterday's losses, as stocks reassessed the results of the U.S. presidential election. Japan's Nikkei made the most dramatic move, finishing 6.7% higher -- its biggest one-day percentage gain since Feb. 15 -- as a cooling yen boosted exporters. China's Shanghai Composite ended up 1.4%, as the yuan tapped a six-year low against the U.S. dollar. Meanwhile, South Korea's Kospi added 2.3%, and Hong Kong's Hang Seng rose 1.9%.

European stocks are trading mostly higher at midday, as insurance, bank, and basic resource stocks rally in the wake of Donald Trump's win. The French CAC 40 is up 0.6%, while Germany's DAX has seen a 0.5% lift. London's FTSE 100 is the lone loser, giving up its early gains to trade 0.1% lower.

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