Dow Futures Drop With Oil Prices

Crude futures are tumbling on reports of increased global oil production

Managing Editor
May 25, 2018 at 9:21 AM
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Dow Jones Industrial Average (DJI) futures are below fair value this morning, as big-cap energy stocks Chevron (CVX) and Exxon Mobil (XOM) trade lower with oil prices. July-dated crude futures were last seen down 2.6% at $68.83, on reports Russia and the Organization of the Petroleum Exporting Countries (OPEC) are considering raising output. Geopolitical tensions continue to swirl, too, after U.S. President Donald Trump withdrew from the June 12 nuclear summit with North Korea yesterday -- though an official for the rogue nation said its leader Kim Jong Un is still willing to meet with Trump. Investors will also digest remarks from Fed Chair Jerome Powell, as well as a larger-than-expected 1.7% drop in durable goods orders in April. 

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  • Plus, PayPal stock gets upgraded; Apple slips after patent settlement; and Deckers scores a big earnings beat.

Stock Futures Chart May 25

5 Things You Need to Know Today

  1. The Chicago Board Options Exchange (CBOE) saw 902,241 call contracts traded on Thursday, compared to 576,382 put contracts. The single-session equity put/call ratio fell to 0.64, and the 21-day moving average remained at 0.61.
  2. PayPal Holdings Inc (NASDAQ:PYPL) stock is up 1.5% in electronic trading, after receiving an upgrade to "buy" from "hold" at Stifel, as well as a price-target hike to $99 from $82. The analyst in coverage sees significant growth opportunity due to the size of the global payments platform. The stock also saw its price target lifted to $93 from $85 at Cantor Fitzgerald, a 14% premium from the stock's perch of $81.55 last night.
  3. Apple Inc. (NASDAQ:AAPL) stock is down 0.1% ahead of the bell, after a U.S. jury awarded the tech giant $539 million in a patent retrial against Samsung -- though this was less than the $1 billion Apple was seeking. The trial was over copying technology used in Apple's iPhone. AAPL stock scored a record high of $190.37 on May 10, and has recently consolidated above $186, home to its 10% year-to-date breakeven level.
  4. Shares of Deckers Outdoor Corp (NYSE:DECK) are up 5.1%, after reporting another earnings beat, and impressive same-store sales. The upbeat report was met with a slew of price-target hikes, including one to $125 from $115 at Telsey. DECK stock is on track to open at a six-year high, and has added 29% in 2018 already.
  5. The University of Michigan's consumer sentiment index is set for release today, while Chicago Fed President Charles Evans, Dallas Fed President Robert Kaplan, and Atlanta Fed President Raphael Bostic will speak.

stock market news may 25

Asian Stocks Lower, Europe Higher On North Korea Optimism

Asian markets finished mostly lower, as traders reacted to Trump's decision to cancel the North Korean summit. Weakness in energy stocks pushed Hong Kong's Hang Seng 0.6% lower. Meanwhile, China's Shanghai Composite ended down 0.4%, South Korea's Kospi took a 0.2% loss, and Japan's Nikkei – the only gainer – scraped by on a lift from airline stocks, finishing up 0.06%.

On the flip side, European stocks are higher on hopes that a U.S.-North Korea meeting could still happen. London's FTSE 100 is up 0.1%, Germany's DAX is 0.7% higher, and France's CAC 40 is up 0.3%, at last check.

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