Dow Jones Industrial Average Braces for Triple-Digit Drop on 'Quadruple Witching' Day

A day after one of the most anticipated financial policy decisions in recent history, the Dow Jones Industrial Average (DJIA) looks ready to start "quadruple witching" Friday in the red. In fact, futures on the benchmark have fallen more than 165 points ahead of the open. In a similar vein, stocks in Europe are taking a beating, with traders talking up a "fat finger" error in the U.K.

 

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

 

• This e-commerce name skyrocketed on news of a partnership with Amazon.com, Inc. (NASDAQ:AMZN). 
• 2 financial stocks that may have just signaled buying opportunities. 
• A look at how options traders are playing these 2 Detroit darlings. 
• Plus … 5 things you need to know this morning -- including stocks making waves and what's happening overseas.

And now, on to the numbers…

 

Futures on the Dow Jones Industrial Average (DJIA) are 167.7 points below fair value. 

 

5 Things You Need to Know Today

 

1. Stocks in Asia closed mostly higher, but European benchmarks are swimming in red ink. 
2. The Chicago Board Options Exchange (CBOE) saw 877,049 call contracts traded on Thursday, compared to 651,203 put contracts. The resultant single-session equity put/call ratio moved up to 0.74, while the 21-day moving average stayed at 0.78. 
3. Verizon Communications Inc. (NYSE:VZ), First Solar, Inc. (NASDAQ:FSLR), and Adobe Systems Incorporated (NASDAQ:ADBE) were among the equities with unusual call and put activity on Wednesday. For the entire list, read Unusual Options Activity: VZ, FSLR, and ADBE. 
4. Despite its third price-target increase this week, Nike Inc (NYSE:NKE) is pointed lower ahead of the open, following the broader equities market south. The athletic apparel stock saw HSBC raise its target price to $116, though sector peer Under Armour Inc (NYSE:UA) also got some bullish love, with Susquehanna bumping its price target by $10 to $95. These two just can't escape each other. 
5. Apple Inc. (NASDAQ:AAPL) is getting some heat this morning. Customers abroad are complaining about a glitch in the company's new iOS 9, which supposedly has rendered their phones unusable after download. The controversy comes just a week after the company's big product unveiling.  

 

Earnings and Economic Data

 

It's quadruple witching Friday -- when stock index futures, stock index options, stock options, and single stock futures expire. On the economic front, just the Conference Board's index of leading economic indicators is on tap.

There are no earnings of note. To see what is coming up on next week's docket, click here.