April 15, 2015, here are today's Dow Jones futures and S&P futures numbers, as well as top market news, earnings reports, pre-market movers, and stocks to watch in the stock market today...
Stock Futures Today
Dow Jones futures for Wednesday, April 15, forecasted a 55-point increase from Tuesday's Dow close. S&P futures forecasted a 5.5-point increase. The DJIA Index gained 59 points on Tuesday as reduced expectations for quarterly profit outlooks were offset by energy sector gains and strong earnings results from JPMorgan Chase & Co. (NYSE: JPM). Shares of the banking giant gained 1.5% on the day. The S&P 500 Energy Index jumped 1.44% on the day.
Top News in the Stock Market Today
The markets will continue to focus on company filings as earnings season kicks into full swing. Investors are also paying attention to an update from European Central Bank President Mario Draghi during a policy meeting. During the meeting, a protestor poured confetti on the ECB boss, and screamed "End ECB dictatorship!"
China's Economy: China's economy grew at its slowest pace in six years during the first quarter. Economists cited a declining property market, falling demand overseas, and concerns about industrial production. While the nation's GDP did fall in line with its full-year target of roughly 7%, the figure falls below the 7.3% measurement for the December quarter.
Oil Prices Today: Oil prices were on the rise this morning due to increased tensions in the Middle East and an expected slight downturn in shale production. Despite reports by the Energy Information Administration (EIA) that it expects shale production in May to decline for the first time since 2011, the agency said that it does not anticipate the U.S. shale boom to slowdown for another five years. The EIA said that U.S. crude oil production will peak at 10.6 million barrels each day in 2020. Brent oil, priced in London, gained 1.2% this morning to hit $59.14 per barrel. WTI crude, priced in New York City, gained nearly 1.3% to hit $53.97 per barrel.
Stocks to Watch, Earnings Roundup: Investors can expect earnings reports today from Bank of America Corp. (NYSE: BAC), Delta Air Lines Inc. (NYSE: DAL), NetflixInc. (Nasdaq: NFLX), Charles Schwab Corp. (NYSE: SCHW), Kinder Morgan Inc. (NYSE: KMI), Universal Forest Products Inc. (Nasdaq: UFPI), and SanDisk Corp. (Nasdaq: SNDK).
Pre-Market Movers in the Stock Market Today: BAC, INTC, CSX
Pre-Market Movers 1, BAC: Shares of Bank of America Corp. (NYSE: BAC) were down roughly 0.4% in pre-market hours despite reporting a profit in the first quarter. The financial titan surprised many investors after it reported a one-time $6 billion charge due to litigation. The firm announced per-share earnings of $0.36, besting analyst expectations of $0.29 per share.
Pre-Market Movers 2, CSX: Shares of CSX Corp. (NYSE: CSX) recovered from Monday's decline, adding nearly 3% in post-market hours. The company announced that it approved a 13% jump in its quarterly dividend and a $2 billion stock buyback program. The company also reported quarterly net income of $442 million in the first quarter, up from $398 million in the same period in 2014.
Pre-Market Movers 3, INTC: Shares of Intel Corp. (Nasdaq: INTC) jumped more than 3% on news that the company met first quarter earnings expectations. The firm announced sales of $12.8 billion and earnings of $2 billion, or $0.41 a share, in the first quarter. Those numbers are in line with analyst expectations, while earnings were up from $1.9 billion or $0.38 a share, in 2014.
Stocks to Watch No. 1, T: Telecom giant AT&T Inc. (NYSE: T) surprised analysts by announcing it has filed its own lawsuit to overturn new regulatory orders that will create net neutrality. While industry groups and lobbyists tend to take on government lawsuits, this deal is especially interesting given that the same agency that AT&T has filed the suit against, the Federal Communications Commission, is also the same that will make a final ruling on the firm's $49 billion takeover deal of DirecTV (Nasdaq: DTV). The company joins four trade groups in their individual efforts to overturn the regulatory orders. They are the National Cable and Telecommunications Association; the CTIA, the wireless industry's top trade group; the American Cable Association, a group representing small and independent cable companies; and advocacy giant, the United States Telecom Association.
Stocks to Watch No. 2, GOOG: Shares of Google Inc. (Nasdaq: GOOG, GOOGL) slipped 0.2% on news that the EU has formally accused the tech giant of anticompetitive practices. These charges include habits like pushing its own software and products to its search engine users. The E.U.'s competition commissioner said investigators are particularly focused on the Google Android operating system. If found guilty of violating antitrust laws, the company could face fines up to 6 billion euros, or roughly $6.4 billion. However, a settlement would be more likely.
Stocks to Watch No. 3, SHOP: Cloud-based e-commerce firm Shopify, which runs a platform for small-businesses, has submitted a filing with the SEC that it plans to raise up to $100 million in an initial public offering. More than 162,000 companies use Shopify to sell products and services in 150 countries. The Canadian firm will be listed on the NYSE under the ticker SHOP.
Today's U.S. Economic Calendar
MBA Mortgage Applications at 7 a.m.
Empire State Manufacturing Survey at 8:30 a.m.
James Bullard Speaks at 9 a.m.
Industrial Production at 9:15 a.m.
Atlanta Fed Business Inflation Expectations at 10 a.m.
Housing Market Index at 10 a.m.
EIA Petroleum Status Report at 10:30 a.m.
Federal Reserve Chair Stanley Fischer speaks at 10:40 a.m.
Beige Book at 2 p.m.
Treasury International Capital at 4 p.m.
Richmond Federal Reserve Bank President Jeffrey Lacker speaks at 7:30 p.m.
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.
