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DJIA Futures Up 67 Points Today Ahead of Fed SpeechesFor May 4, 2015, here are your stock futures, top market news, earnings reports, pre-market movers, and stocks to watch in the stock market today…
Stock Futures Today
DJIA futures for Monday, May 4, forecasted a 56-point increase over Friday's close.
On Friday, markets jumped more than 183 points on news that monthly consumer sentiment increased. U.S. automotive vehicle sales in April were higher than expected for manufacturers like General Motors Company (NYSE: GM) and Ford Motor Company (NYSE: F). Futures are on the rise today ahead of data that will likely show increased demand for U.S. manufactured goods in March in spite of a stronger dollar against global currencies.
Top News in the Stock Market Today
- The Stock Market Today: Today, investors will focus on speeches from two members of the Fed Open Market Committee, while the U.S. will release a report on March factory orders.
- Greek Drama: It was five years ago today that began the great drama that became the Greek bailout. On May 2, 2010, several European governments and the International Monetary Fund elected to provide $274 billion in loans to help Greece handle its crippling debt. Despite the massive bailout program, the nation is still in perilous economic health. Should the nation refuse more austerity to help meet its pending obligations by June 30, Europe may pull the plug, which could lead to Greece departing the Eurozone or a broader default.
- International Focus: On the international front, investors might be worried about China. The Final HSBC manufacturing purchasing index (PMI) showed that factory activity saw its biggest drop in a year during April. This is likely to fuel increased stimulus as China's central bank attempts to kick-start its economy. In addition, Markit released PMI reports for primary Eurozone economies. In April, Germany, the continental bloc's largest economy, continued to expand.
- Oil Prices Today: Oil prices were back in range of 2015 highs, fueled by expectations that the global glut is expected to abate with Chinese stimulus on tap. Brent oil gained 0.6% this morning to hit $66.86 per barrel. WTI crude gained nearly 0.3% to hit $59.35 per barrel.
Pre-Market Movers in the Stock Market Today: APC, CMCSA, TWC, ARRY
- Pre-Market Movers 1: APC: Shares of Anadarko Petroleum Corp. (NYSE: APC) are in focus this morning on news the company will report earnings coverage and that investment bank Cowen and Company had announced coverage of the oil producer. The investment bank has rated Anadarko as a top three pick based on the energy producer's positioning as oil prices rise.
- Pre-Market Movers 2: CMCSA: Shares of Comcast Corp. (Nasdaq: CMCSA) were up more than 1.7% on news the company reported stronger-than-expected quarterly earnings and increased stock buybacks to $10 billion for the quarter, an addition of $6.75 billion more. The announcement comes in the wake of the firm's failed $45 billion merger with Time Warner Cable Inc. (NYSE: TWC). The company reported adjusted per-share earnings of $0.79, beating Wall Street per-share expectations of $0.74.
- Pre-Market Movers 3: ARRY: Shares of Array Biopharma Inc. (Nasdaq: ARRY) were the largest premarket mover this morning on news that the company reported better-than-expected earnings. Shares jumped more than 12% after the firm reported fiscal third-quarter of $0.37 per share on revenue of $6.6 million.
Stocks to Watch Today: BRK-A, MCD, CHTR, CMG, D
- Stocks to Watch No. 1: MCD: Shares of McDonald's Corp. (NYSE: MCD) were down marginally as company executives prepare to unveil a long-awaited turnaround plan to take the fast-food giant in a new direction. The world's largest fast-food chain has struggled in the wake of a meat quality scandal in Asia, declining business in Europe's rocky markets, and as Americans shift toward healthier lifestyles or embrace more casual restaurants like Chipotle Mexican Grill, Inc. (NYSE: CMG)
- Stocks to Watch No. 2: CHTR: Shares of Charter Communications Inc. (Nasdaq: CHTR) were up on news that company executives have reached out to Time Warner Cable Inc. management to discuss a possible merger between the cable operators.
- Stocks to Watch No. 3: BRK-A: Over the weekend, Berkshire Hathaway (NYSE: BRK.A) held its annual shareholder meeting in Omaha, Neb. The company hosted roughly 40,000 investors at the summit. On Friday, the company announced strong earning, led by its holdings in railroads, energy and utilities. During the event, founder Warren Buffett faced difficult questions from investors, but he did not name a successor and showed no sign that he is prepared to walk away from the markets any time soon.
- Stocks to Watch: Premarket earnings: Today, keep an eye out for earnings reports from Anadarko Petroleum Corp. (NYSE: APC), Dominion Resources Inc. (NYSE: D), Comcast Corp. (Nasdaq: CMCSA), Sysco Corp. (NYSE: SYY), Loews Corp. (NYSE: L), Tyson Foods Inc. (NYSE: TSN), CNA Financial Corp. (NYSE: CNA), MGM Resorts International (NYSE: MGM), Westlake Chemical Corp. (NYSE: WLK), and Sturm, Ruger & Co. Inc. (NYSE: RGR).
Today's U.S. Economic Calendar (all times EST)
- Gallup US Consumer Spending Measure at 8:30 a.m.
- Factory Orders at 10 a.m.
- 4-Week Bill Announcement at 11 a.m.
- 3-Month Bill Auction at 11 a.m.
- 6-Month Bill Auction at 11:30 a.m.
- Chicago Federal Reserve Bank President Charles Evans speaks at 12:25 p.m.
- TD Ameritrade IMX at 12:30 p.m.
- San Francisco Federal Reserve Bank President John Williams speaks at 3:10 p.m.
What Investors Must Know This Week
- Apple Inc. (Nasdaq: AAPL) Headed for $1 Trillion Market Cap
- Why the OPEC Oil Cartel Is Losing the Energy War
- How to Make More Money in the Markets Starting Today
About the Author
Garrett Baldwin is a globally recognized research economist, financial writer, and consultant with degrees from Northwestern, Johns Hopkins, Purdue, and Indiana University. He is a seasoned financial and political risk analyst, with a focus on stocks, hedge funds, private equity, blockchain, and housing policy. He has conducted risk assessment projects for clients in 27 countries, and consulted on policy and financial operations for some of the nation's largest financial institutions, including a $1.5 trillion credit fund, a $43 billion credit and auto loan giant, as well as two of the largest Wall Street banks by assets under management.
Garrett joined Money Map Press as an economist and researcher in 2011, specializing in alternative strategies with an emphasis on fundamental and technical analysis.