Dow Jones Industrial Average Futures Pop for Black Friday

The 40 Most Overbought Stocks and ETFs

Nov 25, 2016 at 9:00 AM
facebook X logo linkedin


Dow Jones Industrial Average (DJIA) futures are well above fair value, suggesting yet another run to record highs could be ahead. The markets are set for a relatively quiet shortened session, with only one notable economic report to digest: international trade data showed a larger-than-expected rise in the U.S. trade deficit for October. Crude oil prices are lower this morning following a rise in U.S. stockpiles, and doubts continue to surround the potential production-cut deal expected from the Organization of Petroleum Exporting Counties (OPEC) by the end of the month. Specifically, crude futures for January have given up 1% to trade at $47.50 per barrel -- though the slide does not seem to be weighing down stocks. Meanwhile, retailers are in the spotlight today, with early reports showing strong numbers for Black Friday sales.

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

Dow Futures November 25

Futures on the Dow Jones Industrial Average (DJIA) are roughly 60 points above fair value.

5 Things You Need to Know Today
  
  1. The Chicago Board Options Exchange (CBOE) saw 717,560 call contracts traded on Wednesday, compared to 432,386 put contracts. The resultant single-session equity put/call ratio dipped to 0.60, while the 21-day moving average stayed steady at 0.67.
  2. Dow component Johnson & Johnson (NYSE:JNJ) is up 0.4% in pre-market trading, on reports the company is considering a takeover of Swiss pharmaceutical firm Actelion Ltd. JNJ is already up 10% year-to-date, but has been trending lower since hitting an all-time peak in July.
  3. Online retailer Amazon.com, Inc. (NASDAQ:AMZN) is among the stocks in focus as holiday shopping shifts into high gear today. The shares are 0.6% higher ahead of the bell, as shoppers ditch the lines and scoop up deals from the comfort of home, while options buyers could also be finding a bargain in AMZN.
  4. Also profiting from today's shopping rush is Target Corporation (NYSE:TGT), which has already reported record online sales, with more than 60% coming from mobile devices. TGT has tacked on 0.9% ahead of the bell, on track to keep its post-earnings momentum alive.
  5. The economic and earnings calendars are essentially bare for the rest of the day, with the market closing early, at 1 p.m. ET.  

Buzz Stocks Nov 25 2

Overseas Trading

Asian stocks ended higher, lacking cues from Wall Street after the U.S. trading holiday. Japan's Nikkei ended up 0.3%, as the yen weakened against the greenback, and Japan's core consumer prices fell for an eighth month straight. Elsewhere, Hong Kong's Hang Seng gained 0.5%, China's Shanghai Composite tacked on 0.6%, and South Korea's Kospi rose 0.2%.

European stocks are mixed at midday, during a low-volume session due to a shortened day on Wall Street. London's FTSE 100 has gained 0.1%, as economic data showed an increase in household spending and business investment, and third-quarter gross domestic product (GDP) that matched estimates of 0.5%. The French CAC 40 has dipped 0.2%, despite unemployment falling for a second straight month in October, while Germany's DAX is down 0.1%.

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 C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI