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
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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. 

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