Dow Jones Industrial Average Futures Rise With Oil Prices

Why We Can't Count on a Santa Claus Rally This Year

Nov 15, 2016 at 8:58 AM
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Dow Jones Industrial Average (DJIA) futures are trading above fair value, suggesting stocks are set for a positive start -- and putting the Dow on track to extend its winning streak to seven days, after the blue-chip index notched a fresh record high on Monday. Oil prices are bouncing back from multi-month lows today, with December-dated crude futures up 3.3% at $44.74 per barrel. Traders are also digesting a round of upbeat economic data, including a larger-than-expected rise in retail sales for October. Plus, the Empire State manufacturing survey added 8.3 points, turning positive for the first time in four months.

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

Dow Futures November 15

Futures on the Dow Jones Industrial Average (DJIA) are 21 points above fair value.

5 Things You Need to Know Today
  1. The Chicago Board Options Exchange (CBOE) saw 1.20 million call contracts traded on Monday, compared to 681,461 put contracts. The resultant single-session equity put/call ratio climbed to 0.57, while the 21-day moving average edged down to 0.67.
  2. Online retail stock JD.Com Inc (ADR) (NASDAQ:JD) is reportedly exploring the spin-off of its internet finance business. Along with climbing third-quarter revenue, the news has JD stock up 7.6% ahead of the bell. 
  3. Despite beating estimates for earnings and revenue, retailer Dick's Sporting Goods Inc (NYSE:DKS) is set to slide 4.8% at the open, following a disappointing outlook. The stock hit a record high on Monday, but some shareholders will be relieved that their bets were hedged ahead of this morning's report.
  4. Warren Buffett's Berkshire Hathaway disclosed a stake in four U.S.-based airlines late Monday, sending the stocks higher in electronic trading. For example, American Airlines Group Inc (NASDAQ:AAL) is up 4.8%, set to open just shy of a new annual high.
  5. Business inventories are due for release this morning. Also on the docket are speeches from Boston Fed President Eric Rosengren and Fed Vice Chairman Stanley Fischer. On the earnings front, Mobileye NV (MBLY), Stratasys (SSYS), Teva Pharmaceutical (TEVA), and TJX Companies (TJX) are all slated to report.

buzz stocks nov 15

Overseas Trading

Asian markets finished mostly lower, as several regional currencies gained ground against the U.S. dollar. Japan's Nikkei settled down 0.03%, even as 10-year bond yields rose out of negative territory for the first time since late September. China's Shanghai Composite gave up 0.1%, after the yuan fell to an eight-year low against the greenback in intraday trading, while South Korea's Kospi closed 0.4% lower. Hong Kong's Hang Seng bucked the bearish bias, adding 0.5%.

European stocks are mixed at midday, as oil prices rise and data shows third-quarter gross domestic product (GDP) for the eurozone arrived in line with estimates. Germany's DAX is trading down 0.1%, as a GDP miss overshadows a better-than-expected ZEW survey on economic sentiment. Elsewhere, London's FTSE 100 has gained 0.4%, while France's CAC 40 is up 0.1%.

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