Dow Jones Industrial Average Futures Up on Final Day of 2Q

2 Semiconductor Stocks to Dump Right Now

Karee Venema
Jun 30, 2017 at 9:10 AM
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Dow Jones Industrial Average (DJIA) futures are trading north of fair value, getting a boost from a positive earnings reaction for Nike stock. Rising oil prices are also lifting investor sentiment, with August-dated crude futures up 0.7% at $45.25 per barrel -- on track for a seventh straight gain. Tech stocks, however, are poised to extend yesterday's sharp sell-off, with futures on the Nasdaq-100 Index (NDX) lower at last check. And while the major U.S. stock indexes are on pace to settle with weekly losses, the Dow and S&P 500 Index (SPX) should extend their quarterly win streak to seven, with the Nasdaq Composite (COMP) set to make it four in a row.

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


  • 2 semiconductor stocks to dump right now. 
  • A beginner's guide to options pricing.
  • The latest stock targeted by short seller Muddy Waters.
  • Plus, Buffett's big bank win; Microsoft's major announcement; and Engaged Capital calls for sweeping changes at Hain.

us stock index futures june 30

5 Things You Need to Know Today
  
  1. The Chicago Board Options Exchange (CBOE) saw 1.08 million call contracts traded on Thursday, compared to 741,777 put contracts. The single-session equity put/call ratio rose to 0.69, and the 21-day moving average remained at 0.63.
  2. Warren Buffett's Berkshire Hathaway Inc. (NYSE:BRK.A) will exercise warrants in Bank of America Corp (NYSE:BAC), which will allow the financial holding firm to purchase 700,000 BAC shares at $7.14 apiece. Not only will this make Berkshire Bank of America's biggest shareholder, but it will make a $12 billion profit on the investment, based on BAC stock's settlement last night at $24.32.
  3. Microsoft Corporation (NASDAQ:MSFT) will reportedly announce a large reorganization effort next Wednesday, July 5, to align with a more cloud-based focus, according to the Puget Sound Business Journal. MSFT stock has pulled back since hitting a record high of $72.89 on June 5, but is approaching its rising 80-day moving average -- a trendline that has helped usher the shares higher over the last 12 months.
  4. Shares of Hain Celestial Group Inc (NASDAQ:HAIN) are up 10% in electronic trading, after Engaged Capital disclosed a 9.9% stake in the organic food company. The activist investor is calling for big changes, and has nominated seven members for HAIN's eight-person board. HAIN stock has been contained by its 200-day moving average since an August 2016 bear gap, and closed last night at $35.76.
  5. Personal income and spending stats, the Chicago purchasing managers' index (PMI), and the University of Michigan consumer sentiment report will be released today. There are no earnings of note. 

Buzz Stocks June 30

Overseas Trading

Stocks in Asia mostly struggled for upside, as traders digested ongoing weakness from tech giants and the latest economic data. Starting in Japan, Nintendo and Yahoo Japan both pulled back sharply and the yen strengthened, pushing the Nikkei down 0.9%. Also, the core consumer price index rose for a fifth straight month in May. Over in China, the manufacturing purchasing managers index rose more than expected in June, helping the Shanghai Composite add 0.1%. The Hang Seng, on the other hand, fell 0.8%. Elsewhere, South Korea's Kospi dipped 0.2%, as Samsung Electronics traded in the red. 

Tech stocks are actually outperforming in Europe, helping the major indexes bounce back. However, drug giant Bayer is deep in the red after the company gave a lackluster revenue forecast. While the French CAC 40, London's FTSE 100, and German DAX are sporting respective gains of 0.6%, 0.3%, and 0.2% today, all three indexes are set to finish June sharply lower. In fact, for the FTSE 100, its 2% drop for the period is its worst monthly performance since early 2016.  


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