For June 22, 2015, here are your stock market futures, earnings reports, the top stock market news, and stocks to watch based on today's market moves...
Stock Futures Today
Futures for the DJIA today forecasted a 114-point gain from Friday's close.
On Friday, the DJIA fell 101 points as investors weighed ongoing debt drama in Greece. The markets were also victim to quadruple witching, a period when volatility often spikes in the final trading hour thanks to the expiration of options and futures contracts.
Top News in the Stock Market Today
The Stock Market Today: This morning, the National Association of Realtors will release home sales data for the month of May. Economists have noted an uptick in sales activity as Americans rush to lock in low interest rates before the Federal Reserve hikes them later this year.- Greek Tragedy: This morning, European financial ministers will host an emergency meeting to discuss Greece's $1.8 billion debt to creditors at the end of the month. Greece's leaders have shown very little willingness to accept any proposed debt reforms given their stance against austerity.
- Oil Outlook: Domestic oil prices were on the rise this morning, as WTI crude futures for July rose 0.4% to $59.85 per barrel. Meanwhile, Brent oil added 0.6% to hit $63.44 per barrel.
- Earnings Reports: Companies reporting earnings this morning include Carnival Corp (NYSE: CCL), Ecology and Environment Inc. (NYSE: EEI), Ennis Inc. (NYSE: EBF), Micron Technology Inc. (NYSE: MU), and Sonic Corp (Nasdaq: SONC).
Pre-Market Movers in the Stock Market Today: CI, HUM, WMB
- Pre-Market Movers No. 1, CI: Shares of Cigna Inc. (NYSE: CI) were up more than 8% on news the healthcare giant has turned down a $47 billion merger offer from rival Anthem Inc. (NYSE: ANTM). Meanwhile, shares of Humana Inc. (NYSE: HUM) climbed nearly 3% on news that both Cigna and Aetna Inc. (NYSE: AET) were engaged in an auction to purchase the firm. Merger and acquisition activity continues to accelerate in the sector as firms rush to cut costs.
- Pre-Market Movers No. 2, WMB: Shares of Williams Cos. (NYSE: WMB) were up more than 25% this morning on news that Energy Transfer Equity (NYSE: ETE) offered $48 billion in an unsolicited bid for the natural gas pipeline firm. The board of directors at Williams turned down the bid, arguing it was "too low."
Stocks to Watch Today: NFLX, BAX
- Stocks to Watch No. 1, NFLX: Shares of Netflix Inc. (Nasdaq: NFLX) were up more than 1.2% after the digital streaming company received a massive upgrade from analysts at BTIG. The firm raised its current NFLX price target from $600 to $950.
- Stocks to Watch No. 2, BAX: Healthcare giant Baxter International (NYSE: BAX) is in focus this morning on news that the firm's spin-off Baxalta will join the S&P 500 on July 1 when it begins trading. The firm will replace QEP Resources Inc. (NYSE: QEP), which plans to move to the S&P Midcap 400.
Today's U.S. Economic Calendar (all times EST)
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- Chicago Fed National Activity Index at 8:30 a.m.
- Existing Home Sales at 10 a.m.
- 4-Week Bill Announcement at 11 a.m.
- 3-Month Bill Auction at 11:30 a.m.
- 6-Month Bill Auction at 11:30 a.m.
What Investors Must Know This Week
- Four Trillion-Dollar Tech Trends to Get In On Today
- The New No. 1 Threat to Your Savings and How to Avoid It
- The Truth You're Not Hearing About the Oil Market
About the Author
Garrett Baldwin is a globally recognized research economist, financial writer, consultant, and political risk analyst with decades of trading experience and degrees in economics, cybersecurity, and business from Johns Hopkins, Purdue, Indiana University, and Northwestern.