Dow Jones Industrial Average Futures Point to Another Run Higher

Dow Jones Industrial Average (DJIA) futures are above fair value, pointing to another strong day for stocks with a relatively quiet session ahead on the economic calendar. The blue-chip index finished Monday at a record closing high, as did the S&P 500 Index (SPX), Nasdaq Composite (COMP), and Russell 2000 Index (RUT), marking the first time the foursome touched synchronized all-time peaks since 1999. Rising oil prices provided the spark higher, following upbeat comments from Russian President Vladimir Putin regarding an Organization of the Petroleum Exporting Countries (OPEC) production-cut agreement. While January-dated crude futures have pulled back, last seen 0.8% lower at $47.87 per barrel, the major stock indexes look poised to make a run at fresh record highs.

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

• 5 price points that could trip up bulls, per Schaeffer's Senior V.P. of Research Todd Salamone.
• Why puts popped on these 3 retail stocks ahead of earnings.
• 7 stock charts we're watching this week.
• Plus... Dollar Tree looks to reward option bulls, analysts slash their targets on one cybersecurity stock, and Burlington puts pressure on shorts.

Futures on the Dow Jones Industrial Average (DJIA) are 29 points above fair value.

5 Things You Need to Know Today
  

1. The Chicago Board Options Exchange (CBOE) saw 852,475 call contracts traded on Monday, compared to 483,528 put contracts. The resultant single-session equity put/call ratio fell to 0.57, while the 21-day moving average stayed put at 0.67.
2. Discount retailer Dollar Tree, Inc. (NASDAQ:DLTR) is set to add 8% at the open, following a strong showing in the earnings confessional. While long-term option bulls may be pleased, some recent put buyers could be sweating, should these gains materialize.
3. Slowing revenue growth and lackluster guidance overshadowed a per-share earnings beat for cybersecurity firm Palo Alto Networks Inc (NYSE:PANW). The stock is down 11.4% in pre-market trading, and a slew of analysts have already begun slashing their outlooks on the shares.
4. Retail stock Burlington Stores Inc (NYSE:BURL) is pointed 7.9% higher ahead of the bell, after the company reported third-quarter earnings well above estimates. BURL is up nearly 73% in 2016, as of Monday's close, but could see further gains should short sellers hit the bricks.
5. Existing home sales data will be released later this morning. Stepping into the earnings spotlight today are Barnes & Noble (BKS), Campbell Soup (CPB), Chico's (CHS), DSW Inc. (DSW), Hewlett-Packard Enterprise (HPE), Hormel Foods (HRL), HP Inc (HPQ), Seadrill (SDRL), Signet Jewelers (SIG), and Urban Outfitters (URBN).

Overseas Trading

Asian stocks were higher, as markets followed suit with yesterday's U.S. gains. Oil continued to rally overnight, overshadowing concerns about U.S. President-elect Donald Trump's threat to withdraw the U.S. from the Trans-Pacific Partnership. Japan's Nikkei tacked on 0.3%, with the yen reversing earlier gains as investors assessed the impact of Monday's earthquake. China's Shanghai Composite added 1% after the central bank raised the yuan reference rate for the first time in 12 sessions. Meanwhile, Hong Kong's Hang Seng lifted 1.4%, and the South Korean Kospi also managed a win, rising 0.9%.

European stocks are higher at midday, with crude futures setting the bullish tone amid expectations for an imminent production cut from OPEC. London's FTSE 100 is up 0.8%, buoyed by strong commodity prices, even as October's public sector borrowing numbers came in lower than expected. The French CAC 40 is trading 0.8% higher, and Germany's DAX is up 0.6%.

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