Dow Futures Fall After JPMorgan Earnings Miss

China's central bank vowed to provide more stimulus measures

Managing Editor
Jan 15, 2019 at 9:12 AM
facebook twitter linkedin

Dow Jones Industrial Average (DJI) futures are pointed lower this morning ahead of a busy day on Wall Street. Investors are digesting subpar quarterly results from banking giant JPMorgan Chase (JPM), which reported a fourth-quarter earnings miss. This disappointment has offset encouraging developments abroad, after the People's Bank of China (PBOC) offered up hopes of more stimulus efforts amid concerns of a global economic slowdown. Staying abroad, all eyes are on the U.K., where a big parliament vote on the future of Brexit will occur later today. 

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

Stock Futures Chart Jan 15

5 Things You Need to Know Today

  1. The Chicago Board Options Exchange (CBOE) saw 878,155 call contracts traded on Monday, compared to 568,896 put contracts. The single-session equity put/call ratio fell to 0.65, and the 21-day moving average remained at 0.72.
  2. UnitedHealth Group Inc (NYSE:UNH) stock is down 2% in electronic trading, as increased Medicaid costs offset fourth-quarter earnings and revenue that exceeded analyst expectations. UNH is one of the best stocks to own in January, historically, and is currently riding a six-day winning streak -- its best in 12 months.
  3. Oracle Corporation (NYSE:ORCL) stock is down 1.4% ahead of the bell, after Morgan Stanley downgraded the software name to "equal-weight" from "overweight," while trimming its price target to $53 from $57. So far in 2019, ORCL has added 6.7%, but appears to have found resistance at the confluence of its 320- and 100-day moving averages.
  4. The shares of Ford Motor Co. (NYSE:F) are up 1.2% in electronic trading, after the car company announced a partnership with Volkswagen on vans and pickups, as well as electric and self-driving technology. F stock fell to a nine-year low of $7.41 on Dec. 26, but has already added 17% in 2019. Should today's bullish premarket momentum continue, the auto stock could topple its 100-day moving average for the first time in over a month.
  5. Today's economic schedule will feature the producer price index (PPI) and the Empire State manufacturing survey. Minneapolis Fed President Neel Kashkari will speak at 11:30 a.m. ET. Both Dallas Fed President Robert Kaplan and Kansas City Fed President Esther George will speak at 1:00 p.m. ET.  Charles Schwab (SCHW), Kinder Morgan (KMI), United Continental (UAL), and Wells Fargo (WFC) will release earnings.

stock market news jan 15

Stimulus Hopes Boost Asia; Europe Braces For Brexit Vote 

It was a strong finish in Asia, after Chinese regulators promised supportive monetary policy -- including possible tax cuts and increased infrastructure spending -- following a recent string of weak economic data, though a report today showed new loans came in higher than expected last month. While China's Shanghai Composite surged 1.4%, Hong Kong's Hang Seng jumped 2%, South Korea's Kospi rose 1.6%, and Japan's Nikkei reopened after the long holiday weekend with a 1% gain.

European markets are mixed at midday with all eyes on today's key Brexit vote, which will occur at 2 p.m. ET. Traders are also parsing a dismal reading on Germany's gross domestic product (GDP), which showed the economy grew last year at its slowest pace since 2013. At last check, the German DAX is down 0.2%, the French CAC 40 is up 0.1%, and London's FTSE 100 is 0.02% higher.


Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 



Special Offers from Schaeffer's Trading Partners