Dow Jones Industrial Average Futures Higher After ECB Decision

2 Skyrocketing Copper Stocks With Room to Run

Dec 8, 2016 at 9:07 AM
facebook X logo linkedin


Dow Jones Industrial Average (DJIA) futures are pointed higher to start the day, after finishing at an all-time high yesterday. Traders are reacting to the European Central Bank's (ECB) decision to leave interest rates unchanged, and extend its stimulus program for at least another year, though the policymakers will scale back monthly bond purchases starting in April. Stocks are also moving on a drop in weekly U.S. jobless claims -- another sign of an improving employment market ahead of next week's Fed meeting, where it is largely expected interest rates will be increased.

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

161208OV1

Futures on the Dow Jones Industrial Average (DJIA) are about 9 points above fair value.

5 Things You Need to Know Today
  
  1. The Chicago Board Options Exchange (CBOE) saw 1,080,700 call contracts traded on Wednesday, compared to 500,973 put contracts. The resultant single-session equity put/call ratio fell to 0.46, while the 21-day moving average remained at 0.60.
  2. Lululemon Athletica inc. (NASDAQ:LULU) is set to pop 15.1% at the bell, after delivering earnings ahead of analyst expectations last night. The retailer has been rewarded with no fewer than two upgrades and 11 price-target hikes, including an upgrade to "buy" from "sell" by Evercore ISI, which also raised its price target to $80 from $50. In addition, Wedbush -- which on Monday said LULU investors' "bearish view could be overstated" -- hiked its price target to $81 from $70.
  3. Sears Holding Corp (NASDAQ:SHLD) is down 1% in electronic trading, after delivering a disappointing earnings report this morning. The struggling retailer saw revenue plummet more than 14%, and said there is no guarantee when profitability will return. At yesterday's close, the retailer's shares sat down more than 40% for the year.
  4. Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) is down 0.5% in pre-market trading -- extending its year-to-date losses -- after Reuters revealed the company was investigating the alleged bribery of state officials in Romania. The internal investigation has been ongoing since an anonymous tipster informed the company in 2015 that state healthcare workers were being paid to prescribe the company's medication.
  5. The rest of the day will be quiet on the data front. The earnings calendar will consist of Broadcom (AVGO)Ciena (CIEN)Finisar (FNSR), and Yingli Green Energy (YGE).

Buzz Stocks Dec 8

Overseas Trading

Stocks across Asia followed the bullish lead of U.S. markets. Japan's Nikkei stood out, jumping 1.5% to a 2016 high, despite a disappointing read on third-quarter gross domestic product (GDP). South Korea's Kospi was even hotter, soaring 2%, while Hong Kong's Hang Seng finished 0.3% higher. However, China's Shanghai Composite sat out the rally, dipping 0.2% -- as concerns over the government's scrutiny of potentially speculative stock purchases among insurance firms overshadowed encouraging November trade data.

European markets are trekking higher, after ECB President Mario Draghi announced an extension to the bank's stimulus program -- but with tapering of monthly bond purchases to begin in April 2017. Bank stocks and basic resources are currently among the top-performing sectors, bolstered by the ECB news and China's trade numbers, respectively. Drilling down to the indexes, the German DAX has tacked on 0.7%, while London's FTSE 100 and France's CAC 40 are both up 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 C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI