Dow Jones Industrial Average Futures Signal Record Open

Analyst: Valeant Could Skyrocket 50%

Jun 19, 2017 at 9:06 AM
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Dow Jones Industrial Average (DJIA) futures are trading above fair value, as the blue-chip index takes aim at a new record high. Mega-cap tech stocks are on track for a higher start, too, with Apple and Amazon shares up roughly 1% apiece ahead of the opening bell -- pulling Nasdaq-100 Index (NDX) futures higher after two straight weekly losses. The S&P 500 Index (SPX) is also signaling a positive open ahead of what looks to be an up day for the U.S. stock market.

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

  • Kroger stock is trading up 2% in electronic trading, following two days of sharp selling.
  • Analyst: Valeant stock could rally 50%.
  • In case you missed it, 2 low-priced stocks that may be flashing a "buy" signal.
  • Plus, John Paulson joins a board; Yahoo's next chapter begins; and the cancer drug stock up 48%.

us stock index futures june 19

5 Things You Need to Know Today
  1. The Chicago Board Options Exchange (CBOE) saw 1.02 million call contracts traded on Friday, compared to 685,519 put contracts. The single-session equity put/call ratio fell to 0.67, and the 21-day moving average edged down to 0.63.
  2. Valeant Pharmaceuticals Intl Inc (NYSE:VRX) has elected its largest shareholder, John Paulson, to its board of directors. VRX stock is trading 4% higher ahead of the bell, and could be due for more upbeat brokerage notes.
  3. Yahoo completed the sale of its core operations business to Verizon last Tuesday, June 13. The company has renamed itself Altaba, and will begin trading on the Nasdaq today under the ticker AABA.
  4. Clovis Oncology Inc (NASDAQ:CLVS) reported positive late-stage data for its ovarian cancer drug, Rubraca, which could help broaden the ways in which it is used. CLVS stock is up 48.1% in electronic trading, on pace to open at a new annual high.
  5. A speech from New York President William Dudley is currently underway, while Chicago Fed President Charles Evans will speak after the closing bell. This kicks off a week chock-full of Fed appearances.

Buzz Stocks June 19

Overseas Trading

Asian stock markets started the week on a strong note. Stocks in China led the way, with the Shanghai Composite and Hang Seng notching respective wins of 0.7% and 1.2%. The risk-on approach was due in part to easing concerns surrounding liquidity in the market. Japan's Nikkei rose 0.6%, even though the country posted a surprise trade deficit in May. In South Korea, the Kospi added 0.4%.

Stocks are also trading higher in Europe, shaking off reports of a possible terrorist attack near a mosque in London. Also, investors are preparing for the beginning of Brexit negotiations between Britain and the European Union, which will begin later today. In other political news, French President Emmanuel Macron's party won a majority in this weekend's parliamentary elections. France's CAC 40 is leading the way in the region as a result, last seen 0.9% higher. Elsewhere, Germany's DAX is up 0.8%, and London's FTSE 100 has added 0.5%. 


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