Dow Jones Industrial Average Futures Rise After Mixed Earnings

Short Seller: This Stock is Headed to $0

Apr 20, 2017 at 9:09 AM
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Dow Jones Industrial Average (DJIA) futures are trading above fair value, following mixed earnings for large-cap stocks. Dow components Travelers Companies Inc (NYSE:TRV) and Verizon Communications Inc. (NYSE:VZ) both delivered disappointing quarterly results, but American Express Company (NYSE:AXP) managed an impressive earnings beat. Traders are also digesting the latest jobless claims numbers, which came in slightly above estimates at 244,000. Still, stocks are eyeing a mostly higher open, as the Dow looks to snap a two-day losing streak. 

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

stock futures today

Futures on the Dow Jones Industrial Average (DJIA) are 41.5 points above fair value. 

5 Things You Need to Know Today
  1. The Chicago Board Options Exchange (CBOE) saw 713,030 call contracts traded on Wednesday, compared to 499,195 put contracts. The resultant single-session equity put/call ratio rose to 0.70, while the 21-day moving average stayed at 0.67.
  2. Elsewhere on the earnings front, CSX Corporation (NASDAQ:CSX) delivered better-than-expected first-quarter numbers, while raising its dividend and full-year outlook. This is the first earnings release since CSX changed its CEO last month. The shares have been storming higher over the past year, gaining almost 80%, while hitting a record high of $50.13 on March 7, and are on pace to open 3.5% higher today. 
  3. QUALCOMM, Inc. (NASDAQ:QCOM) is also set to gain after an earnings beat, as QCOM stock looks to recover some of its losses from this year. The shares settled Wednesday at $52.61, well below their year-to-date breakeven point of $65.20. 
  4. Yesterday marked the highest close since mid-December for Starbucks stock, with the shares closing at $59.04. It's looking like more of the same today, too, with SBUX adding 1.5% before the bell following an upgrade to "buy" from "hold" at Stifel, which boosted its price target to $67 from $60, representing record-high territory. 
  5. The Philadelphia Fed business outlook survey comes out today. For earnings, Blackstone (BX), D.R. Horton (DHI), E*Trade (ETFC), Mattel (MAT), Nucor (NUE), Philip Morris International (PM), Quest Diagnostics (DGX), and Sherwin-Williams (SHW) will report. 


Buzz Stocks April 20

Overseas Trading

Stocks in Asia largely settled higher, tracking a bounce in oil prices. China's Shanghai Composite mustered a roughly 0.1% win, putting an end to its four-session losing streak. Also finishing north of breakeven was Hong Kong's Hang Seng, which jumped 1%, and South Korea's Kospi, which tacked on 0.5%. Conversely, Japan's Nikkei finished fractionally lower, as traders digested a better-than-anticipated 12% increase in exports last month. In the process, the index snapped a three-day string of wins.

European markets are mixed in the build-up to Sunday's French presidential election, with mining stocks among the worst performers. Investors are also keeping tabs on the start of spring meetings at the International Monetary Fund (IMF) and World Bank. France's CAC 40 has popped 0.7% to lead the advancers, while the German DAX clings to a 0.04% lead. However, London's FTSE 100 is off 0.04% -- and eyeing a fifth straight daily loss -- even with Unilever shares surging 1.3% on a well-received earnings report.


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