North Korea, OPEC Worries Can't Contain Dow Jones Industrial Average Futures

Oil prices are plummeting ahead of a two-day OPEC meeting

Aug 7, 2017 at 9:12 AM
facebook X logo linkedin


Dow Jones Industrial Average (DJIA) futures are trading above fair value, with the blue-chip index taking aim at a ninth straight record high. Stocks appear to be brushing off rising geopolitical tensions after the United Nations slapped North Korea with stiff sanctions over the weekend, as well as falling oil prices. At last check, September-dated crude futures were down 1.1% at $49.02 per barrel, ahead of the Organization of the Petroleum Exporting Countries' (OPEC) two-day meeting, where compliance over the cartel's production cut agreement will likely be discussed. Nevertheless, futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are higher, as well, signaling a positive session for U.S. stocks.

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

  • The stock Bill Ackman hates could be flashing "buy."
  • Put buyers are blitzing these 2 drug stocks ahead of earnings.
  • Another big payday for Oprah.
  • Plus, Tesla's latest fund-raising effort; the drug stock set to lose half its value today; and more bad news for Snap.

us stock index futures august 7

5 Things You Need to Know Today
  
  1. The Chicago Board Options Exchange (CBOE) saw 892,363 call contracts traded on Friday, compared to 587,528 put contracts. The single-session equity put/call ratio fell to 0.66, and the 21-day moving average remained at 0.63.

  2. Electric automaker Tesla Inc (NASDAQ:TSLA) said it's looking to drum up $1.5 billion via a bond offering to fund production of its Model 3 sedan. TSLA stock has backpedaled 0.8% ahead of the open to $353.90, on pace to pare its robust year-to-date gain of 67%.

  3. The volatile price action continues for Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE), which has tanked roughly 53% in pre-market action after the company's cannabis-based gel for epilepsy failed to meet the goals of a mid-stage trial. Today's hefty losses in electronic trading have ZYNE on track to open at a new 52-week low south of $8 per share.

  4. Beleaguered Snap Inc (NYSE:SNAP) was hit with another price-target cut this morning, as Deutsche Bank lowered its forecast to $20 from $23. However, the downwardly revised target still implies expected upside of nearly 48% to SNAP's Friday close at $13.52.

  5. Speeches from St. Louis Fed President James Bullard and Minneapolis Fed President Neel Kashkari are due. For earnings, AMC Entertainment (AMC), Avis Budget (CAR), CBS (CBS), Depomed (DEPO), Gogo (GOGO), Horizon Pharma (HZNP), Mallinckrodt (MNK), MannKind (MNKD), Marriott (MAR), Sunrun (RUN), Tenet Healthcare (THC), and Twilio (TWLO) will report.

buzz stocks aug 7

Overseas Trading

Asian stocks started the week off on a bullish note, even as investors considered the U.N.’s latest sanctions on North Korea. China’s Shanghai Composite led the way with a 0.5% advance, with Hong Kong’s Hang Seng adding 0.5%, as well. Also riding 0.5% was Japan’s Nikkei, as a weaker yen helped lift major exports. Among the top performers was Toshiba, which rallied after local newspapers suggested the company’s financial results could be approved by its auditors. Finally, South Korea’s Kospi managed a 0.14% win. 

In Europe, stocks are struggling for upside, as disappointing economic data out of Germany holds back the major indexes. Specifically, data revealed industrial output in the country fell unexpectedly in June. Mining stocks are a bright spot, however, with the sector posting broad gains at midday. While London’s FTSE 100 has managed to pick up 0.1% so far, Germany’s DAX is down 0.5% and France’s CAC 40 has lost 0.1%. 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI