Dow Jones Industrial Average Futures Signal Retreat from 20,000

14 Stocks Flashing a 'Death Cross' Signal

by Alex Eppstein

Published on Jan 9, 2017 at 9:09 AM

Dow Jones Industrial Average (DJIA) futures are edging lower in pre-market trading, after the index came within a half-point of the 20,000 level on Friday. While there's little to move markets on the economic front, stocks could be impacted by a pair of central bank officials speaking today, with Boston Fed President Eric Rosengren currently behind the mic. On the commodities front, February gold is flirting with five-week highs at $1,180.80 an ounce, while oil prices are getting drilled on signs that growing U.S. production could offset output cuts overseas. At last check, February-dated crude futures were down 2% at $52.90 per barrel.

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

dow futures jan 9

Futures on the Dow Jones Industrial Average (DJIA) are nearly 27 points below fair value.

5 Things You Need to Know Today
  
  1. The Chicago Board Options Exchange (CBOE) saw 803,336 call contracts traded on Friday, compared to 543,756 put contracts. The resultant single-session equity put/call ratio edged down to 0.68, while the 21-day moving average rose to 0.63.
  2. Fiat Chrystler Automobiles NV (NYSE:FCAU) will invest $1 billion in manufacturing facilities in Ohio and Michigan, adding 2,000 new jobs in the process. The automaker said the decision "is a continuation of the efforts already underway to increase production capacity in the U.S. on trucks and SUVs to match demand." This follows FCAU's annual high notched on Friday.
  3. Former Turing Pharmaceuticals CEO Martin Shkreli has seen his account suspended by Twitter Inc (NYSE:TWTR) after he allegedly harassed Lauren Duca, weekend editor for "Teen Vogue."
  4. McDonald's Corporation (NYSE:MCD) has agreed to sell a majority stake in its China and Hong Kong business to state-owned conglomerate Citic and private equity firm The Carlyle Group LP (NASDAQ:CG) for roughly $2.1 billion. "This new partnership will combine one of the world’s most powerful brands and our unparalleled quality standards with partners who have an unmatched understanding of the local markets," said MCD CEO Steve Easterbrook.
  5. The week begins with an afternoon speech by Atlanta Fed President Dennis Lockhart. On the earnings front, A Schulman Inc (SHLM), Acuity Brands (AYI), Apollo Education Group (APOL), Barracuda Networks (CUDA), Commercial Metals Company (CMC), and Global Payments (GPN) are set to report.

Buzz Stocks Jan 9

Overseas Trading

Stocks in Asia finished a relatively quiet session mostly higher. China's Shanghai Composite tacked on 0.6% as the yuan fell against the U.S. dollar, and the country reported its currency reserves for December declined for the sixth consecutive month. Hong Kong's Hang Seng ended 0.3% higher. In South Korea, the Kospi finished a choppy session just a fraction below breakeven, despite a 2.8% gain for Samsung Electronics, after the company predicted a 50% year-over-year jump in fourth-quarter profit. Markets in Japan remain shuttered for a public holiday.

European markets are mixed at midday, with automakers gaining thanks to upbeat data from Volkswagen -- which is shaking off reports of an arrested executive -- while telecom and travel stocks are slumping. Specifically, German airline Lufthansa is off more than 5% after failing to provide an earnings forecast for the year. Despite upbeat data on industrial production and exports, Germany's DAX is down 0.4%. France's CAC 40 is slipping as well, off 0.7%. London's FTSE 100 is shaking off the region's downbeat trend, however, up 0.2% at last check. Boosting stocks in the U.K. is a weaker pound, following Prime Minister Theresa May's comments regarding a "hard Brexit" over the weekend.

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