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For Nov. 9, 2015, here are your stock market futures, earnings reports, top stock market news, and stocks to watch…
Stock Futures Today
Futures for the Dow Jones Industrial Average today (Monday) were off seven points this morning. Asian markets rallied today and extended gains. The Nikkei added nearly 2%, while the Shanghai Composite Index saw gains for more than 1.5%. Meanwhile, investors are keeping an eye on the Dubai Airshow, where firms like Boeing Co. (NYSE: BA) and Airbus Group (OTCMKTS: EADSY) will provide insight on the growth of the global airline industry in 2015.
On Friday, the Dow added 46 points as markets now anticipate the U.S. Federal Reserve will tighten monetary policy and raise rates next month for the first time since 2006. The odds of a December interest rate hike jumped to roughly 70%, according to CME FedWatch, after the U.S. Labor Department released a very strong employment report for the month of October. The U.S. unemployment rate fell to 5% for the first time since April 2008, and it represents the level at which the central bank considers "full employment."
Top News in the Stock Market Today
- The Stock Market Today: Today, interest rate chatter will continue in the wake of Friday's strong employment report. Investors will pay attention to a speech by Boston Federal Reserve Bank President Eric Rosengren. On the international front, pay attention to monthly trade figures from Germany, as markets look for clues into the nation's exposure to slowing economic growth.
- Oil Outlook: With traders placing bets that the Federal Reserve is poised to raise interest rates during the next FOMC meeting, the ensuing strength of the greenback had pushed oil prices down early in the global trading session. However, prices stabilized earlier this morning. December WTI oil prices added 0.8% to hit $44.64 per barrel, while Brent crude prices gained 0.7% to hit $47.78.
Earnings Outlook: PCLN, RAX, JAZZ, LGF, HTZ, ATW
- Earnings Report No. 1, PCLN: Before the bell, Priceline Group Inc. (Nasdaq:PCLN) will report third-quarter earnings. The online booking giant is expected to report earnings of $24.34 per share on revenue of roughly $3.07 billion.
- Earnings Report No. 2, RAX: After market close, Rackspace Hosting Inc. (NYSE:RAX) will report third-quarter earnings. The cloud-computing giant is expected to report an EPS figure of $0.21 on top of $503.6 million in revenue.
- Additional companies reporting earnings include Jazz Pharmaceuticals Plc. (Nasdaq:JAZZ), Lions Gate Entertainment Corp. (NYSE: LGF), Hertz Global Holdings Inc. (NYSE: HTZ), and Atwood Oceanics Inc. (NYSE: ATW).
Pre-Market Movers: PCL, WY, GM, YHOO, BABA
- Pre-Market Movers No. 1, PCL: Shares of lumber giant Plum Creek Timber Co. Inc. (NYSE: PCL) were on the rise this morning on news that the company will be purchased by rival Weyerhaeuser Co. (NYSE: WY). The deal will create a timber, land, and forestry company worth $23 billion by combining the nation's two largest firms in the space. The new company will manage more than 13 million acres of timberland, which is a little less than the land area of West Virginia.
- Pre-Market Movers No. 2, GM: Shares of General Motors Co. (NYSE: GM) were up this morning after it received a positive outlook from investment newspaper Barron's over the weekend. Jack Hough, a senior editor at Barron's, projected that the company's stock has up to 40% upside and could see a potentially significant boost to its dividend yield. Hough said that the stock should be much higher than its current level and that the stock's year-to-date gains of 2% don't reflect its upside.
- Pre-Market Movers No. 3, BABA: Shares of Alibaba Group Holding Ltd. (NYSE: BABA) were still sliding on Monday after Friday's news that short-seller Jim Chanos picked the e-commerce giant as a potential target during an investment conference. Chanos is very bearish on China and has raised significant concerns about the nation's debt levels and other financial stability measures. The news also dragged down shares of Yahoo Inc. (Nasdaq: YHOO), which owns roughly 384 million shares of the company.
Today's U.S. Economic Calendar (all times EST)
- Labor Market Conditions Index 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.
- Boston Federal Reserve Bank President Eric Rosengren speaks at 12 p.m.
- TD Ameritrade IMX at 12:30 p.m.
What Investors Must Know This Week
- Grab Double-Digit Gains from This Analyst "Fail"
- Three Game Changers Fueling a Natural Gas Rebound
- Brace Yourself for This $2 Trillion Global Disruption
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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.