DJIA futures are above fair value, with stocks looking to extend their winning streak
Dow Jones Industrial Average (DJIA) futures are signaling a higher open -- with stocks looking to
extend their winning streak to four days -- as oil prices continue to rise. March-dated crude has added another 3.1% to trade at $31.60 per barrel, as traders cheer continued talk of a
global production freeze. Economic data is also providing a boost -- helping to offset a disappointing earnings showing for Wal-Mart Stores, Inc. (NYSE:WMT) -- as weekly jobless claims fell to a three-month low of 262,000, well below economists' expectations, while the Philadelphia Fed manufacturing index also topped forecasts.
Continue reading for more on today's market, including: 
Futures on the Dow Jones Industrial Average (DJIA) are 50 points above fair value.
5 Things You Need to Know Today
- China sat out the global rally on reports of loan fraud and the latest inflation data.
- The Chicago Board Options Exchange (CBOE) saw 882,426 call contracts traded on Wednesday, compared to 597,779 put contracts. The resultant single-session equity put/call ratio fell to 0.68, while the 21-day moving average stayed at 0.74.
- WMT's fourth-quarter profit topped analysts' forecasts, but revenue was weaker than expected, and the retail giant also lowered its sales outlook for the year. The shares are 3.7% lower in pre-market trade, as put buyers await a potential payday.
- Domain marketplace Godaddy Inc (NYSE:GDDY) has trailed the S&P 500 Index (SPX) by over 13 percentage points during the past two months, and more losses are in store today. Ahead of the open, the shares are off over 5%, as the company's current-quarter revenue outlook failed to meet the Street's expectations.
- While NVIDIA Corporation (NASDAQ:NVDA) may owe part of its success to Peyton Manning, blowout quarterly earnings and upbeat guidance don't hurt, either. The chipmaker's shares are poised to jump almost 8% at the open, with the stock receiving no fewer than seven price-target hikes from analysts.
Earnings and Economic Data
San Francisco Fed President John Williams will speak later in the day. On the earnings front, Cabela's (CAB), Cheniere Energy (LNG), DISH Network (DISH), Duke Energy (DUK), Hyatt Hotels (H), Melco Crown Entertainment (MPEL), MGM Resorts (MGM), Nordstrom (JWN), SodaStream (SODA), Starwood Hotels & Resorts (HOT), Virgin America (VA), and Yamana Gold (AUY) will report quarterly figures. To see what else is on this week's agenda, click here.