Dow Futures Signal Strong Open

Facebook finds itself facing another data scandal

Jun 4, 2018 at 9:04 AM
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Futures on the Dow Jones Industrial Average (DJI) are trading well above fair value this morning, as the blue-chip index looks to build on Friday's jobs rally. This is helping offset trade war fears, with the U.S. and China failing to agree on tariff terms over the weekend, and finance ministers from the non-U.S. Group of Seven nations expressing "unanimous concern and disappointment" over President Donald Trump's recently announced steel and aluminum import taxes.

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

  • The hottest FAANG stock for summer.
  • Morgan Stanley expects 66% downside for this tech stock.
  • Bigger monthly losses could be ahead for Wynn Resorts stock.
  • Plus, a new data scandal sinks Facebook; AMD stock is set to surge; and a possible blue-chip buyout.

us stock market futures on june 4

5 Things You Need to Know Today

  1. The Chicago Board Options Exchange (CBOE) saw 1.19 million call contracts traded on Friday -- the most since April 27 -- compared to 664,360 put contracts. The single-session equity put/call ratio fell to 0.56, while the 21-day moving average remained at 0.60.
  2. The New York Times reported over the weekend that Facebook, Inc. (NASDAQ:FB) allowed roughly 60 device makers -- including Apple (AAPL) and Amazon (AMZN) -- access to a substantial amount of personal data without the users' consent. While the social media giant has denied the rumors, FB stock is set to open down 1.6%, after closing last Friday at $193.99.
  3. Advanced Micro Devices, Inc. (NASDAQ:AMD) jumped more than 6% Friday to close at its highest mark since last July, thanks to a big bull note. The chip stock is set to extend this rally today, up 3.3% in electronic trading.
  4. Microsoft Corporation (NASDAQ:MSFT) has reportedly acquired coding site GitHub, according to Bloomberg, with a formal announcement expected as soon as today. MSFT stock is up 0.8% in premarket trading -- on track to open at a new record high.
  5. On the economic front, factory orders are due out today. Ascena Retail (ASNA), Casey's General Stores (CASY), JinkoSolar (JKS), and Palo Alto Networks (PANW) will report earnings.

stock market news june 4

M&A Buzz Boosts European Stocks

Asian stock markets pushed higher today, getting a boost from last week's U.S. jobs data. Starting in Japan, the Nikkei rose 1.4% thanks to a big day from electronics giant Sony, while automakers also outperformed. Hong Kong's Hang Seng had a strong showing, too, picking up 1.7%, and China's Shanghai Composite added 0.5%. And in South Korea, the Kospi closed up 0.4%.

Stocks in Europe are also mostly higher at midday. Traders are momentarily moving past the recent political uncertainty out of Italy and Spain, focusing instead on a raft of M&A headlines. Most notably, shares of Air France KLM are surging after AccorHotels confirmed it’s considering taking a stake in the company. London's FTSE 100 is up 0.7% at last check, followed by a 0.3% rise in the French CAC 40, while Germany's DAX is up 0.1%.

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