Crude futures are trading higher again this morning
Dow Jones Industrial Average (DJI) futures are modestly higher this morning, as oil prices continue to rise on lingering geopolitical tensions and news that Israel launched a military strike against Syria overnight. June-dated crude futures up 0.5% at $71.48 per barrel, at last check, to flirt in four-year-high territory. Traders are also digesting the latest inflation data. The consumer price index (CPI) rose 0.2% in April, slightly below the average analyst estimate of 0.3%. Elsewhere on the economic front, weekly jobless claims were unchanged to hover near a 48-year low. Another win today would make it six in a row for the Dow -- matching its February win streak.
Continue reading for more on today's market, including:
- Sizzling healthcare stock has options on sale.
- Nvidia stock is red-hot ahead of earnings.
- Options volume ramped up as Walmart stock sold off.
- Plus, First Solar stock scores key upgrade; Roku's timely earnings beat; and 21st Century Fox posts encouraging revenue.
5 Things You Need to Know Today
- The Chicago Board Options Exchange (CBOE) saw 1.1 million call contracts traded on Wednesday, compared to 662,698 put contracts. The single-session equity put/call ratio fell to 0.58, while the 21-day moving average remained at 0.64.
- First Solar, Inc. (NASDAQ:FSLR) stock is up 2.6% in electronic trading, after receiving an upgrade to "overweight" from "neutral" at J.P. Morgan Securities. The analyst in coverage also lifted his price target to $85 from $74, citing the solar company's attractive risk/reward setup. First Solar stock pulled back after scoring a six-year high of $81.72 on April 27, but found support at its rising 140-day moving average.
- Roku Inc (NASDAQ:ROKU) stock is up 6.4% ahead of the bell, after the streaming company reported a slimmer-than-expected first-quarter loss on stronger-than-forecast revenue. The company also raised its full-year outlook. Citigroup chimed in with a price-target hike to $40 from $36. ROKU stock has shed 30% in 2018, but could be on track to close above its 80-day moving average for the first time since late February.
- Shares of Twenty-First Century Fox Inc (NASDAQ:FOXA) are up 0.4% in electronic trading, after the media giant reported a fiscal third-quarter revenue beat -- even as earnings fell short. RBC issued a price-target hike to $45 to $43 following the upbeat report. FOXA stock score a record high of $39.35 on Tuesday, and has added 2.6% this week amid an ongoing buzz of a potential bidding war.
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The Treasury budget is due today. Nvidia (NVDA), AMC Networks (AMCX), Diana Shipping (DSX), Duke Energy (DUK), Halozyme Therapeutics (HALO), Noodles & Co (NDLS), Symantec (SYMC), Tribune Media (TRCO), and Yelp (YELP) will round out the day's earnings docket.
Asian Stocks Close Up as Crude Climbs
Stocks in Asia finished modestly higher today, as crude prices continued to push to fresh highs. Energy stocks were among the top performers, sending Hong Kong's Hang Seng up 0.9%. South Korea's Kospi rose 0.8%, China's Shanghai Composite saw a 0.5% lift, and Japan's Nikkei ended the day 0.4% higher.
European markets are cautiously positive at midday. The Bank of England (BOE) opted to keep interest rates steady in deference to sluggish first-quarter growth, sparking weakness in the pound. U.K.-based bank RBS is trading up 2.6%, after agreeing to a lower-than-anticipated $4.9 billion settlement with the U.S. Department of Justice. London's FTSE 100 is up 0.02%, France's CAC 40 is 0.03% higher, and Germany's DAX is seeing gains of 0.4% at last check.