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Dow Jones Industrial Average Futures Head Higher With Crude

Why Gold Bugs Should Take a Breath

Feb 17, 2016 at 9:12 AM
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Dow Jones Industrial Average (DJIA) futures are following oil prices higher this morning, with the March crude contract up 2.8% at $29.85 a barrel, amid renewed hopes for a global production cut. Minutes from January's Federal Open Market Committee (FOMC) meeting will also be in focus today, as investors hunt for clues into the central bank's plans for interest rates this year.  

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

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Futures on the Dow Jones Industrial Average (DJIA) are 96 points above fair value.

5 Things You Need to Know Today

 

  1. Shanghai stocks bucked the regional bias, while European indexes are following oil's lead.
  2. The Chicago Board Options Exchange (CBOE) saw 701,563 call contracts traded on Tuesday, compared to 558,658 put contracts. The resultant single-session equity put/call ratio jumped to 0.80, while the 21-day moving average slipped to 0.74.  
  3. Priceline Group Inc (NASDAQ:PCLN) popped 5% in electronic trading after reporting fourth-quarter earnings well above expectations. The shares could be set to erase a good portion of their 13% year-to-date losses today.
  4. Warren Buffett's Berkshire Hathaway Inc. (NYSE:BRK.A) took a stake in energy concern Kinder Morgan Inc (NYSE:KMI) worth nearly $400 million, according to a Securities and Exchange Commission (SEC) filing. The news has KMI pointed 10.7% higher ahead of the bell.
  5. A federal judge ordered Apple Inc (NASDAQ:AAPL) to help unlock an iPhone belonging to the shooter in December's San Bernardino attack. CEO Tim Cook says he opposes the order, calling it an “unprecedented step which threatens the security of our customers.”

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Earnings and Economic Data

Housing starts and building permits, the producer price index (PPI), and industrial production figures will be reported, but all eyes will be on the release of last month's FOMC meeting minutes. St. Louis Fed President James Bullard will also give a speech in the evening.

Stepping up to the earnings plate are Barrick Gold (ABX), NVIDIA (NVDA), SunPower (SPWR), Analog Devices (ADI), Bloomin' Brands (BLMN), Denny's (DENN), Dr Pepper Snapple (DPS), Garmin (GRMN), GoDaddy (GDDY), IAMGOLD (IAG), Jack in the Box (JACK), Marathon Oil (MRO), Marriott (MAR), NetApp (NTAP),  Newmont Mining (NEM), Noble Energy (NBL), Shopify (SHOP), and T-Mobile US (TMUS). To see what else is on this week's agenda, click here.

 
 

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