Dow Jones Industrial Average Futures Flat; Oil, Earnings in Focus

After marking another nine-month high above the 18,000 level on Tuesday, Dow Jones Industrial Average ​​(DJIA) futures are just below fair value this morning, as traders eye oil prices and blue-chip earnings. Crude futures are pulling back after the oil workers' strike in Kuwait came to an end, with May-dated crude off 2% at $40.26 per barrel. On the earnings front, Dow stocks The Coca-Cola Co (NYSE:KO) and Intel Corporation (NASDAQ:INTC) are both signaling a lower start after reporting.

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

• What can we expect after the Dow's defeat of 18,000? Schaeffer's Senior Quantitative Analyst Rocky White weighs in.
• Option traders took a shine to these 2 gold ETFs.
• How speculators are playing Intel peer QUALCOMM, Inc. (NASDAQ:QCOM) ahead of earnings.
• Plus... China's worst session in months, Facebook's "tip jar," and Intel's pink slips.

Futures on the Dow Jones Industrial Average (DJIA) are about 6 points below fair value.

5 Things You Need to Know Today

 

1. The Shanghai Composite suffered its worst day in two months.
2. The Chicago Board Options Exchange (CBOE) saw 827,042 call contracts traded on Tuesday, compared to 553,101 put contracts. The resultant single-session equity put/call ratio slipped to 0.67, while the 21-day moving average edged up to 0.69.
3. Yahoo! Inc. (NASDAQ:YHOO) is 1% higher in electronic trading, after reporting first-quarter earnings that just topped expectations. The company is reportedly reviewing buyout bids from Verizon Communications Inc. (NYSE:VZ), U.K.'s Daily Mail, and others, with Verizon thought to be the most likely buyer.
4. Facebook Inc (NASDAQ:FB) is considering allowing users to make money from their Facebook activity through various channels, including the possible addition of a  "tip jar" to posts. The company is due to report quarterly earnings next week.
5. Intel Corporation (NASDAQ:INTC) is pointed 1.9% lower ahead of the bell, after announcing last night that it will cut up to 12,000 jobs, or 11% of its workforce. The company also reported first-quarter earnings below expectations.

Earnings and Economic Data

Existing home sales will be released, along with the regularly scheduled weekly crude inventories report. Stepping into the earnings spotlight will be American Express (AXP), Abbott Labs (ABT), Angie's List (ANGI), ARM Holdings (ARMH), Canadian Pacific (CP), Citrix Systems (CTXS), F5 Networks (FFIV), Las Vegas Sands (LVS), Mattel (MAT), Newmont Mining (NEM), QCOM, Steel Dynamics (STLD), St. Jude Medical (STJ), Tupperware (TUP), Tractor Supply (TSCO), United Rentals (URI), and Yum! Brands (YUM). To see what is else is coming up on this week's schedule, click here. 

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