Dow Jones Industrial Average Futures Cautiously Higher; Oil, Nike in Focus

After breaking a seven-day win streak on Tuesday, Dow Jones Industrial Average (DJIA) futures are slightly above fair value, tracking stocks in Europe, which are on the mend after traders were shaken by yesterday's terrorist attacks in Belgium. However, lower oil prices are keeping gains in check, with May-dated crude futures down 1.2% at $40.94 per barrel, as investors await the weekly crude inventories report. In addition, a lackluster earnings showing from Dow component Nike Inc (NYSE:NKE) is keeping pre-market momentum muted.

Data on new home sales will also be reported this morning, and traders are already digesting comments from Philadelphia Fed President Patrick Harker, who told Reuters that he believes another interest rate hike should be considered as soon as next month, if economic conditions continue to improve.

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

• 25 stocks for your Easter basket (and 17 more to avoid).
• Behind yesterday's late Lumber Liquidators Holdings Inc (NYSE:LL) explosion.
• How option buyers are betting on the Staples, Inc. (NASDAQ:SPLS) court drama.
• Plus... Europe bounces back, Nike revenue falls short, and why Oracle wants to see HP in court.

Futures on the Dow Jones Industrial Average (DJIA) are 5 points above fair value.

5 Things You Need to Know Today

 

1. Global stocks continue to react to Tuesday's terrorist attacks, while European travel interests bounce back.
2. The Chicago Board Options Exchange (CBOE) saw 584,139 call contracts traded on Monday, compared to 513,263 put contracts. The resultant single-session equity put/call ratio climbed to 0.88, while the 21-day moving average edged up to 0.68.  
3. Nike Inc (NYSE:NKE) reported fiscal third-quarter earnings above expectations last night, but quarterly revenue fell shy of predictions. The shares are down 5% in pre-market trading, but a recent crop of call buyers will be hoping for a quick rebound.
4. Regeneron Pharmaceuticals Inc (NASDAQ:REGN) reported that its cholesterol-lowering drug, developed in conjunction with Sanofi SA (ADR) (NYSE:SNY), met primary objectives in a late-stage study for patients with a hereditary condition. 
5. Oracle Corporation (NYSE:ORCL) is reportedly suing Hewlett Packard Enterprise Co (NYSE:HPE) for improperly employing a third party to provide tech support for ORCL's Solaris operating system.

Earnings and Economic Data

Fuel Tech (FTEK), General Mills (GIS), and KB Home (KBH) will unveil earnings. To see what else is coming up on this week's agenda, click here.