DJIA futures are signaling a negative start, despite a sharper-than-expected drop in weekly jobless claims
Dow Jones Industrial Average
(DJIA) futures are pointed lower amid a retreat in oil prices, just a day after stocks
rallied sharply on a crude surge and the latest Fed minutes. Specifically, May-dated crude futures were last seen off 0.9% at $37.43 per barrel. On the data front, traders are digesting a sharper-than-expected drop in weekly jobless claims. Also, things should get interesting after the close, when Fed chairs past and present -- including Janet Yellen, Ben Bernanke, Alan Greenspan, and Paul Volcker -- will speak.
Continue reading for more on today's market, including:

Futures on the Dow Jones Industrial Average (DJIA) are roughly 79 points below fair value.
5 Things You Need to Know Today
- While Japanese markets snapped their losing streak, European markets are reacting negatively to the latest European Central Bank (ECB) meeting minutes.
- The Chicago Board Options Exchange (CBOE) saw 588,174 call contracts traded on Wednesday, compared to 356,712 put contracts. The resultant single-session equity put/call ratio dropped to 0.61, while the 21-day moving average remained at 0.70.
- Embattled drugmaker Valeant Pharmaceuticals Intl Inc (NYSE:VRX) was granted a one-month extension from its lenders to file its annual report, now due out May 31. The waiver news has boosted the stock 5.5% pre-market, extending yesterday's Ackman-inspired momentum.
- According to Re/code, Yahoo! Inc. (NASDAQ:YHOO) has been circulating a "book" of financial documents to prospective buyers that reveal an "increasingly dire" situation. Pre-market, YHOO is down over 2%.
- Apparel retailer Pacific Sunwear of California, Inc. (NASDAQ:PSUN) has filed for bankruptcy -- confirming recent rumors -- due to huge losses and mounting debt, sending the shares 32% lower in electronic trading.

Earnings and Economic Data
Speeches from Fed Chair Janet Yellen and Kansas City Fed President Esther George are scheduled for after the close. On the earnings front, CarMax (KMX), Rite Aid (RAD), and Ruby Tuesday (RT) will report. To see what else is coming up on this week's schedule, click here.
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