Dow Jones Industrial Average Futures Pop for Black Friday

The 40 Most Overbought Stocks and ETFs

Nov 25, 2016 at 9:00 AM
facebook twitter 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, 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

Now is the time to join our thriving community of Event Traders who consistently profit from every earnings season. With this discounted subscription opportunity, you'll stay ahead of the curve and seize opportunities others miss. Do not let Q3 earnings season pass you by – subscribe now and supercharge your portfolio with expert insights that turn market reactions into profit-generating opportunities!! Don't waste another second... join us right now before the next trade targeting +200% is released!