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

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.

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. 

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.

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