Dow Jones Industrial Average Futures Jump With Apple Stock

Dow Jones Industrial Average (DJIA) futures are trading above fair value, hinting that the blue-chip index could make its inaugural trek north of 22,000 in today's session. Boosting the Dow is a well-received earnings report for iPhone maker Apple Inc. (NASDAQ:AAPL), with the FAANG stock up 6.5% in electronic trading -- and set to hit a new record high out of the gate. The pre-market upside for AAPL shares is also boosting futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX), as U.S. stocks look set for another positive session.

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

• The best stocks for straddle plays, courtesy of Schaeffer's Senior Quantitative Analyst Rocky White.
• The fertilizer stock that may have just bottomed.
• The options market is pricing in a big post-earnings move for 3D Systems stock.
• Plus, FireEye shares boom after earnings; a C-suite shakeup at Mondelez; and SunPower's forecast disappoints.

1. The Chicago Board Options Exchange (CBOE) saw 787,418 call contracts traded on Tuesday, compared to 503,073 put contracts. The single-session equity put/call ratio rose to 0.64, and the 21-day moving average stayed at 0.62.


2. Shares of FireEye Inc (NASDAQ:FEYE) recently pulled back to familiar support at their 80-day moving average after topping out at a year-to-date high of $16.40 on July 19. Today, FEYE stock is set to bounce sharply off this trendline -- up 7.5% ahead of the bell -- after the cybersecurity name reported a slimmer-than-expected second-quarter loss of 4 cents per share on $185.5 million in revenue. Plus, no fewer than five brokerages boosted their respective price targets.


3. It's been a rough stretch for Mondelez International Inc (NASDAQ:MDLZ), with the shares off 7.6% since hitting a nearly two-year high of $47.23 in early June. This morning, MDLZ stock has added 3.2% in electronic trading, following news the Oreo maker's CEO Irene Rosenfeld will retire in November, and be succeeded by McCain Foods CEO Dirk Van de Put. The company also reported a second-quarter earnings beat.


4. SunPower Corporation (NASDAQ:SPWR) reported an adjusted second-quarter loss of 35 cents, narrower than the 44 cent per-share loss analysts were expecting. However, the solar company lowered the top end of its full-year revenue forecast, and said it will unload its stake in 8point3  -- sending SPWR stock down 10.9% in electronic trading, and putting the shares on track to pare their 72.3% year-to-date gain.


5. The ADP employment report showed the private sector added a smaller-than-forecast 178,000 jobs in July. Looking ahead, the regularly scheduled crude inventories update and speeches from San Francisco Fed President John Williams and Cleveland Fed President Loretta Mester are on tap, along with earnings from Tesla (TSLA), Square (SQ), Cirrus Logic (CRUS), Fitbit (FIT), Take-Two Interactive (TTWO), and more. 

Overseas Trading

It was a mixed session for Asian equities, with several tech stocks getting a boost from Apple's impressive earnings report. Japan’s Nikkei led the way with a 0.5% increase, while South Korea’s Kospi and Hong Kong’s Hang Seng both added 0.2%. However, China’s Shanghai Composite closed down 0.2%, even after the index managed an annual high earlier in the day. 

Stocks in Europe are struggling at midday, however. Mining stocks are underperforming due to disappointing earnings from Rio Tinto, while the banking sector is also lagging. At last check, London’s FTSE 100 was seen 0.4% lower, Germany’s DAX was off 0.2%, and the French CAC 40 was down 0.1%.