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Stock Futures Today
Futures for the Dow Jones today forecast an 81-point gain as investors turn away from poor financial conditions in China and eye the start of the U.S. Federal Reserve's meeting on monetary policy.
On Monday, the Dow Jones Industrial Average dropped 127 points after the Chinese stock market saw its worst one-day decline in eight years. Traders appear concerned about the world's second-largest economy and its growth prospects for 2015. Chinese ADRs were hit hard, with shares of Alibaba Group Holding Ltd. (NYSE: BABA), Sohu.com Inc. (Nasdaq: SOHU), and JD.com Inc. (Nasdaq: JD) all falling on the day. Here's a look at the China stock market crash by the numbers.
Top News in the Stock Market Today
- The Stock Market Today: This morning, the Federal Open Market Committee meeting kicks off. Investors anticipate that the central bank could raise interest rates in the coming months. The question is, will it happen in September, December, or both? Traders will also keep an eye on last month's consumer confidence report and the S&P Case-Shiller HPI, set for release today.
- Oil Outlook: Oil prices continued to decline as traders worried about oversupply on the global markets and the broader market sell-off in China. WTI crude futures for September fell more than 0.5% to hit $47.14 per barrel. Meanwhile, Brent oil prices slipped 1.3% to hit $52.76 per barrel.
- Earnings Reports: Companies reporting earnings today include Aflac Inc. (NYSE: AFL), Buffalo Wild Wings Inc. (Nadsaq: BWLD), D.R. Horton Inc. (NYSE: DHI), EI du Pont de Nemours and Co. (NYSE: DD), Ford Motor Co. (NYSE: F), Gilead Sciences Inc. (Nasdaq: GILD), GrubHub Inc. (NYSE: GRUB), JetBlue Airways Corp. (Nasdaq: JBLU), Merck & Co Inc. (NYSE: MRK), Panera Bread Co. (Nasdaq: PNRA), Pfizer Inc. (NYSE: PFE), Reynolds American Inc. (NYSE: RAI), Twitter Inc. (NYSE: TWTR), United Parcel Service Inc. (NYSE: UPS), United States Steel Corp. (NYSE: X), and Yelp Inc. (NYSE: YELP).
Pre-Market Movers in the Stock Market Today: BIDU, DD, PFE
- Pre-Market Movers No. 1, BIDU: The China stock sell-off hit a number of companies hard on Monday, but none has stood out like the nation's largest Internet search giant. Following the bell on Monday, Baidu Inc. (Nasdaq ADR: BIDU) stock slumped more than 10% after the company reported a huge miss on its quarterly profits.
- Pre-Market Movers No. 2, DD: Shares of El Du Pont De Nemours and Co. (NYSE: DD) slipped more than 1.5% in pre-market hours after the chemical giant said it has slashed its full-year 2015 earnings outlook. The company said that a stronger U.S. dollar has affected – and will continue to affect – its bottom line.
- Pre-Market Movers No. 3, PFE: Shares of Pfizer Inc. (NYSE: PFE) gained more than 1% after it reported stronger than expected adjusted quarterly profits. But the bigger news was the firm's 7% decline in its quarterly revenue figures. The company's global profits were affected by a strong U.S. dollar.
Stocks to Watch Today: F, MRO, HON
- Stocks to Watch No. 1, F: Shares of Ford Motor Co. (NYSE: F) were up more than 2% this morning after the company beat Wall Street second-quarter earnings expectations. The company said that stronger growth in its North American sales contributed to a healthier bottom line. The company also left investors feeling confident on news that it maintained its 2015 full-year profit outlook.
- Stocks to Watch No. 2, MRO: Merger and acquisition deals aren't slowing down any time soon. This morning, shares of Melrose Industries Plc. (LON: MRO) were up more than 16% on news that its meter business is being purchased by Honeywell International Inc. (NYSE: HON). The deal is expected to be worth 3.3 billion pounds ($5.14 billion) and will help Honeywell expand its reach into high-growth markets.
Today's U.S. Economic Calendar (all times EDT)
- Redbook at 8:55 a.m.
- S&P Case-Shiller HPI at 9 a.m.
- PMI Services Flash at 9:45 a.m.
- Consumer Confidence at 10 a.m.
- Richmond Fed Manufacturing Index at 10 a.m.
- State Street Investor Confidence Index at 10 a.m.
- 4-Week Bill Auction at 11:30 a.m.
- 2-Year Note Auction at 1 p.m.
What Investors Must Know This Week
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- Is Netflix Stock a Buy After Stock Split and Earnings Beat?
- The Real Impact of the Iran Nuclear Deal on U.S. Oil Prices
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.