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Stock Futures Today
Dow futures for Tuesday, June 23, forecasted a 24-point gain from yesterday's Dow close on news that Greece has pitched several new proposals to alleviate its debt concerns. Here's how you can profit from the unrest in Greece – with an opportunity that's being missed…
Yesterday (Monday), the DJIA added nearly 104 points as investors held out hope that Greece will resolve debt negotiations with its creditors at the International Monetary Fund. Merger and acquisition activity in the healthcare sector continued as a handful of deals and rumors hit Wall Street, sending stocks higher. Companies continue to exploit record-low interest rates in anticipation of the U.S. Federal Reserve tightening monetary policy later this year.
Also yesterday, the Nasdaq Composite Index hit a new record high, while the S&P 500 is now just five points off from its all-time record.
Top News in the Stock Market Today
- The Stock Market Today: This morning, investors will continue to monitor the situation in Greece and await the monthly domestic report on durable goods orders. In addition, housing stocks will be in focus as the May new home sales report drops. Yesterday, the National Association of Realtors said home resales jumped 5.1% in May, with sales hitting their strongest pace in five and a half years. New homeowners continue to jump into the market. Home sales have been surging as buyers aim to exploit low interest rates before the Federal Reserve hikes them in 2015.
- Oil Outlook: Domestic oil prices dripped below $60 per barrel as increased supply offset hopes for the Greek economy. WTI crude futures for July fell 0.9% to hit $59.86 per barrel. Meanwhile, Brent oil fell 0.3% to hit $63.12 per barrel.
- Obamacare in Focus: The Obamacare ruling in the King v. Burwell Supreme Court case is expected this week. It's a decision that could impact more than 7.5 million Americans who receive subsidies to purchase insurance over state-run exchanges. Here's what the Obamacare Ruling means for you if you live in any of the more than 20 states that boycotted exchanges…
- Earnings Reports: Companies reporting earnings include HB Fuller Co. (NYSE: FUL), IHS Inc. (NYSE: HIS), Lindsay Corp. (NYSE: LNN), OMNOVA Solutions Inc. (NYSE: OMN), Carnival Corp. (NYSE: CCL), and Darden Restaurants Inc. (NYSE: DRI).
Pre-Market Movers in the Stock Market Today: DRI, BBRY, T
- Pre-Market Movers No. 1, DRI: Shares of Darden Restaurants Inc. (NYSE: DRI) rose more than 4.4% in pre-market trading on news that the company beat quarterly profit estimates by $0.15. The owner and operator of Olive Garden, LongHorn Steakhouse, and Bahama Breeze reported profits of $1.08 per share. The company also announced plans to spin off its real estate assets into a REIT later this year.
- Pre-Market Movers No. 2, BBRY: Shares of BlackBerry Ltd. (Nasdaq: BBRY) were up more than 1.6% this morning on news that the company reported weak fiscal first-quarter results, but announced it has signed a long-term patent cross-licensing agreement with tech giant Cisco Systems Inc. (Nasdaq: CSCO).
- Pre-Market Movers No. 3, T: Shares of AT&T Inc. (NYSE: T) were up nearly 1.7% this morning on news that Barclays Plc. (NYSE ADR: BCS) upgraded the telecom giant from "neutral" to "overweight." The investment bank's optimism stemmed from positive momentum for the company in the process of its acquisition of DirecTV (Nasdaq: DTV).
Stocks to Watch Today: GDOT, GCI
- Stocks to Watch No. 1, GDOT: Shares of Green Dot Corp. (Nasdaq: GDOT) are in focus today on news that the company has won a contract with Wal-Mart Stores Inc. (NYSE: WMT) to manage the retail giant's MoneyCard debit program for another five years. The news came on the same day that Green Dot's board of directors authorized a $150 million buyback program.
- Stocks to Watch No. 2, GCI: Shares of Gannett Co. (NYSE: GCI) are in focus on news that the company will start a three-year stock buyback program for up to $150 million after its publishing company is spun off from its broadcast division.
Today's U.S. Economic Calendar (all times EST)
- Durable Goods Orders at 8:30 a.m.
- Redbook at 8:55 a.m.
- FHFA House Price Index at 9 a.m.
- PMI Manufacturing Index Flash at 9:45 a.m.
- New Home Sales at 10 a.m.
- Richmond Fed Manufacturing Index at 10 a.m.
- 4-Week Bill Auction at 11:30 a.m.
- 52-Week Bill Auction at 11:30 a.m.
- 2-Year Note Auction at 1 p.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
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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.