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For Nov. 10, 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 (Tuesday) were up 30 points this morning as traders prepared for a busy day of economic data. On the global front, Asian and European markets experienced jitters as expectations for a rate hike by the U.S. Federal Reserve have gripped the global markets.
On Monday, the S&P 500 had its worst one-day decline in six weeks, while the Dow Jones fell 179 points. The Dow ticked back down into negative territory for the year as new fears about an economic slowdown in China hit investors at the onset of the holiday shopping season. This morning, China reported a record surplus for trade and said both imports and exports were on the decline. Finally, traders weighed the news the Organization for Economic Co-Operation and Development (OCED) had again slashed its expected global growth forecast in 2015.
Top News in the Stock Market Today
- The Stock Market Today: Today, Chicago Federal Reserve Bank President Charles Evans speaks on a panel to discuss government debt. Meanwhile, check for monthly updates to the NFIB Small Business Optimism Index, import and export prices, and wholesale trade. On the global front, investors will likely react to news that the Chinese Consumer Price Index (CPI) for October came in lower than expected.
- GOP Debate Preview: The next showdown between the 2016 Republican presidential candidates will happen tonight on FOX Business Network at 9 p.m. ET. It will air live from Milwaukee, Wisconsin. Here's all you need to know about Donald Trump's SNL appearance, Ben Carson's West Point debacle, and the rest of the candidates' positions.
- Oil Outlook: Crude prices were on the rise this morning after OPEC released a report predicting that the market would balance out in 2016. The global oil cartel said it expects non-OPEC production to slump next year, particularly in the United States, where shale production has declined for eight straight months. December WTI oil prices added 0.6% to hit $44.13 per barrel, while Brent crude prices gained 0.2% to hit $47.29. Meanwhile, the International Energy Agency said that oil prices are not expected to recover to $80 per barrel until 2020.
- Dating Deal: The Match.com IPO price range has been set at $11 to $13 a share. The company has also announced it will list on the Nasdaq under the ticker "MTCH." So, should you buy into the Match.com IPO?
- BlackBerry Boom: The BlackBerry stock price gained roughly 0.8% yesterday after Friday's surge for more than 5.5%. The stock continues to rise after a series of optimistic statements by CEO John Chen…
- Apple Alert: A key piece of Apple stock news from last month's earnings nearly slipped under the radar of today's leading news sites. Everyone seemed to miss this huge number from the China iPhone sales reports…
Earnings Outlook: DHI, DOX, W, MRKT, JOBS, ROK
- Earnings Report No. 1, DHI: Before the bell, D.R. Horton Inc. (NYSE: DHI) will report fiscal fourth-quarter earnings. Wall Street analysts anticipate that the construction company will report per-share earnings of $0.62 on top of revenue of $3.05 billion.
- Earnings Report No. 2, DOX: This morning, Amdocs Ltd. (Nasdaq: DOX) will report fiscal fourth-quarter earnings. The company is expected to report an EPS of $0.83 on top of revenue of $934.7 million.
- Additional companies reporting earnings include Wayfair Inc. (NYSE: W), Markit Ltd. (Nasdaq: MRKT), 51job Inc. (Nasdaq: JOBS), and Rockwell Automation (NYSE: ROK).
Pre-Market Movers: LF, MRK, VRX
- Pre-Market Movers No. 1, LCF: Shares of LeapFrog Enterprises Inc. (NYSE: LF) cratered more than 20% in early hours after the company reported a much larger loss than analysts expected. The toy company reported a quarterly loss of $34.1 million, or $0.48 per share on revenue of $67.2 million. Wall Street expected the company to lose $0.18 per share on revenue of $88.1 million.
- Pre-Market Movers No. 2, MNK: Shares of Mallinckrodt Plc. (NYSE: MNK) were up nearly 1.7% as the stock attempts to rebound after falling as much as 25% on Monday. The biotech stock slumped after Citron Research released a message on Twitter that the firm had more downside than recently embattled Canadian biotech giant Valeant Pharmaceuticals International Inc. (NYSE: VRX).
Today's U.S. Economic Calendar (all times EST)
- NFIB Small Business Optimism Index at 6 a.m.
- Import and Export Prices at 8:30 a.m.
- Redbook at 8:55 a.m.
- Wholesale Trade at 10 a.m.
- 4-Week Bill Auction at 11:30 a.m.
- 52-Week Bill Auction at 11:30 a.m.
- 10-Year Note Auction at 1 p.m.
- Chicago Federal Reserve Bank president Charles Evans speaks at 2:30 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
Follow us on Twitter @moneymorning.
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.