Dow Futures Edge Higher; GE Set to Soar

Trump targeted Harley-Davidson in an early morning series of tweets

Managing Editor
Jun 26, 2018 at 9:23 AM
facebook X logo linkedin

Futures on the Dow Jones Industrial Average (DJI) are cautiously higher this morning, as stocks look to recover from Monday's sell-off. Harley-Davidson (HOG) remains in focus, after President Donald Trump tweeted early this morning that the motorcycle company will be "taxed like never before" if they shift production of Europe-bound vehicles overseas to avoid retaliatory tariffs. 

Also on the radar is General Electric (GE), which is set for its first day of trading off the Dow since 1907. GE stock is up 6.4% in electronic trading, boosted by freshly announced plans to spin off its healthcare division, divest its Baker Hughes stake, and pay down debt.

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

  • Avoid big-cap bank stocks after the rate hike, says Schaeffer's Senior V.P. of Research Todd Salamone.
  • SMH put options pop as chip stocks sink.
  • One analyst expects this penny stock to more than double.
  • Plus, Intel stock gets hit with a downgrade; MGM is booted from Goldman's conviction list; and Spotify stock soars on a bullish Barclays initiation. 

Dow Futures Chart June 26

5 Things You Need to Know Today

  1. The Chicago Board Options Exchange (CBOE) saw 1.17 million call contracts traded on Monday, compared to 712,240 put contracts. The single-session equity put/call ratio rose to 0.61, while the 21-day moving average fell to 0.56.
  2. Intel Corporation (NASDAQ:INTC) is continuing its downward spiral, off 1.8% ahead of the bell after Bernstein downgraded the stock to "underperform" and cut its price target to $42 from $54. As of last night's close at $50.71, INTC had shed  more than 11% from its June 1 closing high.
  3. Casino and gaming operator MGM Resorts International (NYSE:MGM) is down 1.8% in electronic trading after a Goldman Sachs downgrade to "neutral" from "buy," with the stock losing its place on the firm's conviction list.  MGM is set to open at a fresh annual low around $28.75.
  4.  Barclays began coverage on Spotify Technology SA (NYSE:SPOT) with an "overweight" rating and $210 price target, with this latest bull note sending the shares up 2.5% in pre-market trading. The new target implies expected upside of 23.3% to Monday's close at $170.37.  
  5. Today's economic calendar features consumer confidence data and the S&P CoreLogic Case-Shiller home price index, while Atlanta Fed President Raphael Bostic and Dallas Fed President Robert Kaplan will speak in the afternoon. AeroVironment (AVAV), Lennar (LEN), and Sonic (SONC) are scheduled to unveil quarterly reports.

stock market news june 26

More Multi-Year Lows for China's Shanghai Composite

It was a lackluster day for Asian stock markets. China’s Shanghai Composite fell to another two-year low and finished down 0.5%, landing the index in bear-market territory. Hong Kong’s Hang Sell fell as well, dropping 0.3% to mirror the decline in South Korea’s Kospi. On the other hand, Japan’s Nikkei managed a fractional gain, even as technology stocks pulled back.

In Europe, stocks are attempting to bounce back at the midway point. Some of Monday’s worst performers are today’s biggest gainers, including mining and bank stocks. Another notable riser is France-based payments processor Ingenico, thanks to fresh buyout speculation. London’s FTSE 100 was up 0.5% at last check, and France’s CAC 40 has managed a 0.2% advance, though Germany’s DAX was slightly lower.


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 calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI