Also, President Donald Trump tweeted out a threat to Iran
Dow Jones Industrial Average (DJI) futures are trading slightly below fair value this morning, as stocks look set for a lower open. Traders may take a wait-and-see approach before a handful of earnings releases from big tech firms, with Google parent Alphabet (GOOGL) set to report after the close today, followed by Facebook (FB) and Amazon (AMZN) in the coming days.
Elsewhere, oil prices are higher due to escalating tensions between the U.S. and Iran, after President Donald Trump tweeted that the Middle Eastern nation will "suffer consequences the likes of which few throughout history have ever suffered before," should its president ever threaten the U.S. again. September-dated crude futures were last seen up 90 cents, or 1.3%, at $69.12 per barrel.
Continue reading for more on today's market, including:
5 Things You Need to Know Today
- The Chicago Board Options Exchange (CBOE) saw 1.35 million call contracts traded on Friday, compared to 895,449 put contracts. The single-session equity put/call ratio rose to 0.66, while the 21-day moving average ticked up to 0.62.
- Hasbro, Inc. (NASDAQ:HAS) stock is trading up almost 12% before the opening bell, after the company beat top- and bottom-line estimates with its second-quarter results. HAS shares recently took back positive year-to-date territory after bottoming near $80 back in April, and most of Wall Street has actually remained bullish on the toymaker despite the Toys 'R' Us bankruptcy, with the majority of covering analysts calling it a "strong buy."
- Papa John's International, Inc. (NASDAQ:PZZA) stock is down 5% in electronic trading, amid reports the company will adopt a poison pill strategy to limit the power of ousted founder John Schnatter. Plus, Stifel downgraded PZZA stock to "sell" because its checks indicate sales have been hurt in recent weeks amid negative headlines.
- Medical marijuana stock Tilray Inc (NASDAQ:TLRY) looks set to keep blazing a path higher, up 9% in pre-market trading. TLRY began trading on Thursday near $23 -- vs. an initial public offering (IPO) price of $17 -- and jumped to as high as $31.80 on Friday before closing near $29.77.
- Existing home sales are due today. Earnings from Halliburton (HAL), PetMed Express (PETS), Steel Dynamics (STLD), and Whirlpool (WHR) will be released, as well.
Financial Stocks Lift Shanghai Composite
It was a mixed finish in Asia today, as the U.S. dollar weakened against a basket of global currencies. Tokyo stocks got hit the worst, with Japan's Nikkei sinking 1.3%, as the yen strengthened on reports the Bank of Japan could be considering adjusting its current monetary policy. South Korea's Kospi also closed lower, shedding 0.9%, as blue-chip tech shares Samsung Electronics and SK Hynix plunged. On the flip side, China's Shanghai Composite added 1.1% on surging financial stocks, while Hong Kong's Hang Seng added 0.1%.
European markets are lower at midday, as auto stocks sink on news of the unexpected resignation of Fiat Chrysler CEO Sergio Marchionne. The leisure sector is also on the decline, amid a negative earnings reaction for Dublin-based airline name Ryanair. At last check, the French CAC 40 is down 0.5%, while the German DAX and London's FTSE 100 are each flirting with a 0.2% loss.