Dow Jones Industrial Average Futures Signal New Highs

What You Need to Know About VIX in July

Jul 5, 2017 at 9:06 AM
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Dow Jones Industrial Average (DJIA) futures are trading slightly above fair value, as U.S. investors return from the Fourth of July holiday. Traders this morning are digesting lower oil prices, with August-dated crude futures dipping 1.2% to $46.50 per barrel. Later in the day, Wall Street will consider the release of the Fed's latest meeting minutes. Also in focus is the growing tension between the U.S. and North Korea, after Pyongyang successfully tested an intercontinental ballistic missile. But with stocks signaling a higher open, the Dow could again flirt with fresh record highs

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

  • Schaeffer's V.P. of Research Todd Salamone explains what you need to know about VIX in July
  • GM, Ford stocks react to June auto sales
  • One options trader's bet on an extended tech slump
  • Plus, bad news for Disney; a big note for Intuitive Surgical; and Arconic stock bounces back. 

stock futures today

5 Things You Need to Know Today
  1. The Chicago Board Options Exchange (CBOE) saw 479,605 call contracts traded on Monday, compared to 265,739 put contracts. The single-session equity put/call dipped to 0.55, and the 21-day moving average remained at 0.63.
  2. Walt Disney Co (NYSE:DIS) is once again in focus, following a Wall Street Journal write-up detailing sharp ratings declines in the company's children's channels (subscription required). On Monday, reports hit that Verizon could be considering a buyout offer for Disney, and DIS stock is cautiously building on those M&A-related gains in pre-market action. 
  3. Shares of medical device manufacturer Intuitive Surgical, Inc. (NASDAQ:ISRG) have pulled back since topping out at a record high of $963.54 on June 22, but could get a boost today after brokerage firm Leerink raised its price target on ISRG stock to $1,080 from $850 -- representing a 17% premium to Monday night's close at $921.66. 
  4. Arconic Inc (NYSE:ARNC) is pointed higher ahead of the open, as the aluminum stock tries to fight back from last week's bear gap. As of Monday's close at $22.84, ARNC stock was sitting just below both its 200-day and 320-day moving averages. 
  5. Factory orders are due out today, while Herman Miller (MLHR), PriceSmart (PSMT), and Yum China (YUMC) will report earnings

Buzz Stocks July 5

Overseas Trading

Stocks in Asia settled modestly higher today, with regional benchmarks bouncing back from early weakness as investors largely shrugged off North Korea's Tuesday test of an intercontinental ballistic missile. Meanwhile, in China, the Caixin services purchasing managers index (PMI) showed a slower pace of growth in June, contrasting with a modest improvement in the official Beijing index. By the close, China's Shanghai Composite gained 0.8% and Hong Kong's Hang Seng rose 0.5%, while Japan's Nikkei and South Korea's Kospi each advanced 0.3%.

European markets are also mildly positive at mid-session, with bank stocks among the notable gainers after European regulators approved the Italian government's $6.1 billion bailout of Banca Monte dei Paschi di Siena. On the other hand, automakers are feeling the pressure from data showing a third consecutive monthly decline in U.K. new car registrations. At last look, the French CAC 40 has edged up 0.3%, London's FTSE 100 is 0.2% higher, and the German DAX is holding on to a 0.1% rise.


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