Wal-Mart, Home Depot Earnings Boost Dow Jones Industrial Average Futures

The Key XLF Level Ahead of Historically Bad Week

Feb 21, 2017 at 9:02 AM
facebook X logo linkedin


Dow Jones Industrial Average (DJIA) futures are trading comfortably above fair value, as stocks look to build off of last week's record highs. Retail earnings will be in focus all week, with Dow components Home Depot Inc (NYSE:HD) and Wal-Mart Stores Inc (NYSE:WMT) both higher in electronic trading after releasing their quarterly earnings reports this morning. Fellow retail stock Macy's Inc (NYSE:M) is also rallying ahead of the open on well-received results. Meanwhile, rising oil prices could also support stock gains, with March-dated crude futures up 1.9% at $54.40 per barrel, after the Organization of the Petroleum Exporting Countries (OPEC) said major oil producers continue to cut back output. 

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

  • The key Financial Select Sector SPDR Fund (XLF) level ahead of a historically bad week for bank stocks
  • Analysts are calling for record highs on Square Inc (NYSE:SQ) ahead of earnings. 
  • The fast-rising auto stock crushing short sellers
  • Plus, Verizon adjusts its Yahoo price, the healthcare stock that's more than tripled, and a strong outlook for Macy's.

stock futures today

Futures on the Dow Jones Industrial Average (DJIA) are 57 points above fair value. 

5 Things You Need to Know Today
  
  1. The Chicago Board Options Exchange (CBOE) saw 1.1 million call contracts traded on Friday, compared to 641,036 put contracts. The resultant single-session equity put/call ratio rose to 0.59, while the 21-day moving average stayed at 0.66.
  2. The Wall Street Journal reported that Verizon Communications Inc. (NYSE:VZ) will be cutting its buyout offer for Yahoo! Inc (NASDAQ:YHOO) by around $350 million. The move comes as Yahoo continue to deal with the fallout of its security breeches
  3. Molecular diagnostics stock EXACT Sciences Corporation (NASDAQ:EXAS) is set to extend its long-term rally today, adding 5.5% in electronic trading, after the company's better-than-expected fourth-quarter results. The shares have had a huge year, more than tripling in value over the past 12 months to trade at $19.91.  
  4. While fourth-quarter revenue was worse than expected, M is looking at a 2.7% jump at the open. A stronger-than-expected per-share profit and full-year outlook is helping the shares. Of course, the stock remains well below its March high of $45.50, closing Friday at $32.30, despite recent M&A rumors
  5. First Solar (FSLR), La-Z-Boy (LZB), Lumber Liquidators (LL), Newmont Mining (NEM), and Papa John's (PZZA) will also report earnings today. 

stocks in the news today feb 21

Overseas Trading

Stocks in Asia finished mostly higher, with a stronger dollar weighing on local currencies. South Korea's Kospi tacked on 0.9% after the country saw a 26.2% year-over-year jump in exports for the early part of February. A weaker yen helped exporters gain ground in Japan, as well, with the Nikkei adding 0.7% -- despite continued losses for Toshiba. China's Shanghai Composite climbed 0.4% for the day, amid strength in blue-chip bank stocks. Hong Kong's Hang Seng bucked the bullish trend, though, falling 0.8% on a smaller-than-expected rise in consumer prices -- as well as losses in banking shares, following a disappointing earnings report from HSBC.

European markets are largely in positive territory at midday. Energy stocks are among the leading gainers, as oil prices rise on positive signs that OPEC members and other crude producers will adhere to output cuts. Meanwhile, HSBC's downbeat earnings report is weighing on financial stocks in the region. London's FTSE 100 was off 0.2% at last check, even after Bank of England Governor Mark Carney noted his willingness to modify fiscal policy, if necessary. But France's CAC 40 is up 0.3% and Germany's DAX has added 0.6%, following upbeat composite purchasing managers index (PMI) readings.


Stay on top of breaking stock market news with 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