Dow Jones Industrial Average Futures Lower; Yellen, Data In the Spotlight

3 Bank Stocks Bruised By Analyst Warnings

Nov 17, 2016 at 9:13 AM
facebook X logo linkedin

Dow Jones Industrial Average (DJIA) futures are just below fair value this morning, indicating a slightly lower start for stocks, after the blue-chip index snapped a seven-day winning streak. Traders are digesting the latest round of economic data, including weekly jobless claims, which fell to a fresh 43-year low. U.S. housing starts, meanwhile, popped to a nine-year high in October. The consumer price index (CPI) saw its fastest rate of growth in six months in October, with higher gas prices mostly responsible for gains, bolstering expectations for a December rate hike. In fact, ahead of a scheduled appearance before Congress this morning, Fed Chair Janet Yellen said a rate hike could be "appropriate relatively soon." Investors will also be eyeing comments from other Fed officials later in the day.

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

Dow Futures November 17

Futures on the Dow Jones Industrial Average (DJIA) are 4 points below fair value.

5 Things You Need to Know Today
  1. The Chicago Board Options Exchange (CBOE) saw 881,406 million call contracts traded on Wednesday, compared to 558,848 put contracts. The resultant single-session equity put/call ratio climbed to 0.63, while the 21-day moving average remained flat at 0.66.
  2. Alternative energy interest First Solar, Inc. (NASDAQ:FSLR) is down more than 10% in pre-market trading, after the company gave downbeat full-year guidance and announced it will cut its workforce by roughly 1,600. The news also earned the stock a round of fresh bearish attention from the brokerage bunch.
  3. A disappointing outlook also has Dow component Cisco Systems, Inc. (NASDAQ:CSCO) sinking ahead of the bell, last seen down 4.8%. The slip could come as an ugly surprise for some last-minute pre-earnings call players.
  4. Shipping concern DryShips Inc. (NASDAQ:DRYS) is keeping its monster rally alive, set to pop another 64% at the opening bell. Still, as of last night's close at $73.00, the stock is sitting on a 72% year-to-date deficit.
  5. New York Fed President William Dudley will speak in the morning, and Chicago Fed President Charles Evans is slated to make remarks later in the day. As for earnings, blue-chip WMT will report, as well as Applied Materials (AMAT), Best Buy (BBY), Gap (GPS), JA Solar Holdings (JASO)Marvell Technology Group (MRVL), Ross Stores (ROST), (CRM), and Staples (SPLS).

Buzz Stocks Nov 17

Asian markets finished mostly higher, even as oil prices fell. Japan's Nikkei finished fractionally higher, after the Bank of Japan (BoJ) unexpectedly announced an unlimited fixed-rate government bond-buying program. China's Shanghai Composite tacked on 0.1%, with South Korea's Kospi also adding 0.1%. Elsewhere, Hong Kong's Hang Seng lost 0.1% on the day.

European stocks are mixed, as traders await U.S. Fed Chair Janet Yellen's congressional testimony, and parse over the release of the European Central Bank's (ECB) latest meeting minutes. London's FTSE 100 has added 0.1% so far, helped by strong retail sales. Meanwhile, the French CAC 40 is down 0.04%, and Germany's DAX has retreated 0.3%.

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