DJIA futures are set to open higher, as stocks react to a rally in China and rising oil prices
Dow Jones Industrial Average (DJIA) futures are set to jump at the open, as stocks piggyback off a rally in China. In addition, an
extended run higher in oil prices is helping stocks, with September-dated crude futures up 1.2% at $45.03 per barrel, amid reports that Russia is open to production-freeze talks.
Continue reading for more on today's market, including:
Futures on the Dow Jones Industrial Average (DJIA) are 32.5 points above fair value.
5 Things You Need to Know Today
- Asian stocks finished higher, as investors root for an additional Chinese stimulus package.
- The Chicago Board Options Exchange (CBOE) saw 911,645 call contracts traded on Friday, compared to 501,840 put contracts. The resultant single-session equity put/call ratio fell to 0.55, while the 21-day moving average remained at 0.63.
- Tesla Motors Inc (NASDAQ:TSLA) is set to open up 0.4% at $226.60, after the automaker removed the terms "autopilot" and "self-driving" from its Chinese website, following accusations from a Chinese consumer that misleading advertising had contributed to a wreck. However, a Tesla spokesperson said the company has "been in the process of addressing any discrepancies across languages for weeks," and that "timing had nothing to do with recent events or articles."
- Twitter Inc (NYSE:TWTR) is poised to jump 2% at the open, as rumors swirl that the social media stock will be partnering with Apple Inc. (NASDAQ:AAPL) to bring the Twitter app to Apple TV. A deal could allow Apple TV users to live-stream National Football League (NFL) Thursday night games.
- American Eagle Outfitters (NYSE:AEO) is set to open up 5.7% at $20 -- a new three-year high -- following an upgrade to "buy" from "hold" by Deutsche Bank, which also hiked AEO's price target to $22 from $17. This isn't the first upbeat analyst note AEO has received lately, as the retailer readies to release earnings later this week.
Earnings and Economic Data
The Empire State manufacturing survey, NAHB housing market index, and Treasury International Capital (TIC) data will kick off this week's economic reports. Sysco (SYY) and Vipshop (VIPS) will report quarterly earnings.To see what is coming up on this week's schedule, click here.
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