New Highs on Deck as Dow Jones Industrial Average Futures Pop

4 Gold Stocks for Your Watch List This Week

Feb 13, 2017 at 9:00 AM
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Dow Jones Industrial Average (DJIA) futures are pointing to a fresh run at all-time highs, well above fair value following Friday's finish at a record peak. Stocks are shaking off a drop in oil prices, with March-dated crude futures last spotted 0.9% lower at $53.40 per barrel. A relatively short list of corporate earnings are in focus today, and traders are likely looking ahead to a slew of speeches from Federal Reserve officials due later this week. Meanwhile, global markets are seeing gains despite concerns over a ballistic missile test in North Korea over the weekend.

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

  • Breaking down a six-figure hedge on Alibaba Group Holding Ltd (NYSE:BABA). 
  • 4 gold stocks for your watch list this week. 
  • Why is short interest soaring on this outperforming semiconductor stock?
  • Plus, Disney hikes prices, Verizon offers a new plan, and a drugmaker tops expectations

Dow Futures February 13

Futures on the Dow Jones Industrial Average (DJIA) are nearly 68 points above fair value.

5 Things You Need to Know Today
  
  1. The Chicago Board Options Exchange (CBOE) saw 856,881 call contracts traded on Friday, compared to 599,940 put contracts. The resultant single-session equity put/call ratio jumped to 0.70, while the 21-day moving average edged up to 0.68.
  2. Blue chip Walt Disney Co (NYSE:DIS) is set to open 0.6% higher following news the company is raising the cost of admission to its U.S. theme parks. The stock has been nearly flat since its earnings report last week, but the shares are perched just shy of their late-January record high.
  3. Also in focus this morning is Dow component Verizon Communications Inc. (NYSE:VZ). The stock is poised to drop 1.5% at the bell, after the company announced it will bring back unlimited data plans for the first time since 2011. Of course, more losses for VZ stock seems to be what analysts have been expecting.
  4. Drugmaker Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) is up 3.9% in pre-market trading following a well-received earnings report. The results could come as a shock to recent options traders, considering TEVA was flirting with 10-year-low territory as recently as Friday.
  5. Today's economic calendar is essentially bare, while Noble Energy (NBL) and Rent-A-Center (RCII) are among the companies due to report quarterly earnings.

Buzz Stocks Feb 13

Overseas Trading

Despite concerns over North Korea's missile test this past weekend, stocks in Asia started off the week on a positive note. Japan's Nikkei tacked on 0.4%, after President Donald Trump said his commitment to defend the island nation is "unwavering" -- in spite of previous rhetoric about the country stealing American jobs. A weaker yen also acted as a boon, while stocks largely shook off a smaller-than-expected rise in Japan's fourth-quarter gross domestic product (GDP). China's Shanghai Composite added 0.6% to notch its fourth consecutive daily gain, while Hong Kong's Hang Seng matched the mainland index's percentage gain. Rounding things out, South Korea's Kospi edged 0.2% higher, after the country's finance minister vowed to act quickly if the aforementioned missile launch created volatility within financial markets.

European bourses are having a strong session, too, bolstered by Trump's softening stance toward Japan. London's FTSE 100 is on track for its loftiest settlement since Jan. 16, up 0.1% -- with mining stocks in the lead -- helped by an improved economic growth forecast at the European Commission. Meanwhile, the French CAC 40 and German DAX have advanced an even more impressive 1.1% and 0.9%, respectively.

Stay on top of breaking stock market news with Schaeffer's Midday Market Check.

 

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