Dow Jones Industrial Average Moving Today as Crude Oil Prices Fall

Stock Futures Today

Futures for the Dow Jones Industrial Average today (Monday, Nov. 23, 2015) were up two points as oil prices continued to slide in the United States.

oilShare of Facebook Inc. (Nasdaq: FB) were up this morning on news that the company's CEO Mark Zuckerberg plans to take a two-month paternity leave after his wife gives birth to their first child.

In Fed news, CME Group FedWatch places the odds of an interest rate hike next month at 71.7%.

On Friday, the Dow Jones Industrial Average finished its best week in more than a month, fueled by a 5.2% surge in Nike Inc. (NYSE: NKE) stock. The global shoe and apparel retailer announced that it has authorized a $12 billion stock buyback program and a two-for-one stock split. Meanwhile, the U.S. Treasury Department introduced new rules to deter U.S. companies from engaging in tax inversions, although Secretary Jack Lew admitted that the policies are unlikely to stop a very large merger in the pharmaceutical space that is near completion between Allergan Plc. (NYSE: AGN) and Pfizer Inc. NYSE: PFE).

Top News in the Stock Market Today

  • The Stock Market Today: On Monday, keep an eye out for a monthly update on existing home sales and a number of earnings reports. Commodity prices continued to slump on concerns of oversupply. Gold prices fell another 0.6% to hit $1,070 per ounce. Silver prices dipped 0.8%, while copper dropped another 1.9%.
  • Oil Outlook: Oil prices were mixed as Saudi Arabia announced that it would work with other exporting countries in order to find a support level. January WTI prices dipped 0.2% to hit $41.66 per barrel. Meanwhile, Brent oil crude - priced in London - gained 0.2% to hit $44.77.

Earnings Outlook: TSN, TSL, GME, YY, PANW

  • Earnings Report No. 1, TSN: This morning, shares of Tyson Foods Inc. (NYSE: TSN) were off 1.5% on news that the food production company missed top and bottom line third-quarter projections. The company reported an EPS of $0.83 on top of $9.756 billion in revenue. Consensus Wall Street expectations called for per-share earnings of $0.90 and $9.772 billion in revenue.
  • Earnings Report No. 2, TSL: Before the bell, Trina Solar Ltd. (NYSE ADR: TSL) fell more than 4% after the solar giant missed third-quarter earnings expectations. The company reported an EPS of $0.21, missing Wall Street expectations by $0.08. The company did surpass revenue expectations, reporting a bottom line of $792.6 million. That is better than the consensus expectation of $774.3 million.
  • Additional companies reporting earnings include GameStop Corp. (NYSE: GME), Palo Alto Networks Inc.(Nasdaq: PANW), and YY Inc. (NYSE: YY).

 Stocks to Watch: AGN, PFE, WMT, DBD, CMG

  • Stocks to Watch No. 1, AGN: Shares of Allergan Plc. (NYSE: AGN) were up marginally on news that Pfizer Inc. (NYSE: PFE) has struck a deal to purchase the Botox-maker for roughly $160 billion.
  • Stocks to Watch No. 2, WMT: Shares of Wal-Mart Stores Inc. (NYSE: WMT) are in focus this morning on news that the global retailer plans to move its Cyber Monday promotions forward one day in order to give consumers extra time to make Holiday purchases. Industry-wide U.S. Cyber Monday spending is expected to surpass $3 billion for the first time in 2015. That's a 12% increase from last year, according to Adobe.
  • Stocks to Watch No. 3, CMG: Shares of Chipotle Mexican Grill Inc. (NYSE: CMG) were off nearly 3% this morning on news that an E.coli outbreak has been linked to its  restaurants in six states.
  • Stocks to Watch No. 4, DBD: Shares of Diebold Inc. (NYSE: DBD) were off more than 2.5% this morning on news that the ATM manufacturer plans to purchase its German rival Wincor Nixdorf AG in a deal worth $1.8 billion.

Today's U.S. Economic Calendar (all times EST)

  • Chicago Fed National Activity Index at 8:30 a.m.
  • PMI Manufacturing Index Flash at 9:45 a.m.
  • Existing Home Sales 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.

What Investors Must Know This Week

Follow us on Twitter @moneymorning or like us on Facebook.

[mmpazkzone name="end-story-hostage" network="9794" site="307044" id="138536" type="4"]

About the Author

Garrett Baldwin is a globally recognized research economist, financial writer, consultant, and political risk analyst with decades of trading experience and degrees in economics, cybersecurity, and business from Johns Hopkins, Purdue, Indiana University, and Northwestern.

Read full bio