Dow Jones Industrial Average Futures Up After Jobs Data

What a Rare S&P Volatility Signal Means for Stocks

Jun 1, 2017 at 9:10 AM
facebook twitter linkedin


Dow Jones Industrial Average (DJIA) futures are trading above fair value ahead of a busy day of economic data. In addition to a blowout ADP payrolls report -- with the private sector adding 253,000 jobs last month, compared to the 185,000 consensus forecast -- monthly vehicle sales and updates on factory activity are due. Stocks may also react to a big decision out of D.C., with President Donald Trump expected to announce whether or not the U.S. will withdraw from the Paris climate treaty. A win today would have the Dow snapping its three-day losing streak.

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


  • The S&P volatility signal flashing for the 10th time ever. 
  • Options traders react to Tesla's record high. 
  • Why analysts are "moving to the sidelines" on this surging electronics stock
  • Plus, Palo Alto is set to soar; Wynn stock signals new highs; and another retailer bites the dust.

us stock futures june 1


5 Things You Need to Know Today
  
  1. The Chicago Board Options Exchange (CBOE) saw 837,375 call contracts traded on Wednesday, compared to 525,667 put contracts. Both the single-session equity put/call ratio and the 21-day moving average arrived at 0.63.
  2. Palo Alto Networks Inc (NYSE:PANW) shares are trading 13% higher ahead of the bell, after the cybersecurity firm's strong earnings report was met with a round of bullish brokerage notes. Even with today's pre-market gain, PANW stock still has a long way to go before filling its early March bear gap
  3. Wynn Resorts, Limited (NASDAQ:WYNN) is up 2.4% in electronic trading, with the casino stock on track to open at a new two-year high. WYNN shares are getting a boost after Macau posted another positive month of gaming revenue in May -- its 10th in a row.
  4. Express, Inc. (NYSE:EXPR) reported a first-quarter earnings miss and offered up a dismal full-year forecast. As such, EXPR shares are set to follow in the recent footsteps of other retail stocks, down 21.4% ahead of the bell and poised to open at an all-time low. 
  5. Productivity and labor costs, the Institute for Supply Management (ISM) manufacturing index, construction spending, and the holiday-delayed update on crude inventories will all be released today. Broadcom (AVGO), lululemon athletica (LULU), Mobileye (MBLY), VMware (VMW), and Zumiez (ZUMZ) will report earnings.

Buzz Stocks June 1

Overseas Trading

It was a mixed session in Asia. Japan's Nikkei outperformed its index peers with a 1.1% rise, following upbeat capital spending data for the first quarter. The other winner was Hong Kong's Hang Seng, which finished up 0.6%. However, China's Shanghai Composite closed down 0.5%, with the Caixin manufacturing purchasing managers index (PMI) hitting an 11-month low. Meanwhile, the yuan touched a seven-month high. In South Korea, the Kospi also closed lower, shedding 0.1%.  

In Europe, stocks are mostly higher at midday. Most bourses are gaining for the first time in five sessions, likely thanks to a rebound in oil prices. Investors are also digesting the latest polls ahead of next week's election in the U.K., with the latest numbers showing a shrinking lead for Prime Minister Theresa May. Elsewhere, the latest manufacturing PMI for the eurozone hit a more than six-year high. At last check, France's CAC 40 was up 0.7%, the FTSE 100 had added 0.4%, and Germany's DAX was sporting a 0.3%. lead. 

 

If you are not making money with options, you aren’t buying options like this…

There is no options strategy that more perfectly approaches trading the fastest moving and most volatile stocks available in the marketplace than this one. In fact, there is no strategy that better utilizes put options for optimal returns and a real trading edge over other traders in the exact same market. New options traders fail out at an incredible rate without proper trade research, execution timing, and option picking. Capitalize on Schaeffer’s 100+ years of options trading excellence with the most coveted product launch in company history. Don't waste another second... join us right now before the next round of trades are released!

 


 


 
Special Offers from Schaeffer's Trading Partners