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Dow Jones Industrial Average Today Struggles to Recover from Oil Price Collapse, Fed-Speak

Money Morning Contributor
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Good morning! For Friday, Nov. 13, 2015, here is the biggest news affecting the Dow Jones Industrial Average today, including stock market futures, earnings reports, top stock market news, and stocks to watch…

Stock Futures Today

dow jones industrial average today
Dow futures were down 42 points ahead of opening bell this morning as markets eyed today’s earnings reports and economic data. The U.S. Commerce Department just reported that domestic retail sales added just 0.1% in October, down from the 0.3% expected from economists. Today, companies reporting quarterly earnings include Tyco International Plc. (NYSE:TYC), InterOil Corp. (NYSE: IOC), and WGL Holdings Inc. (NYSE: WGL).

On Thursday, the Dow Jones Industrial Average fell 254 points as oil prices collapsed. Additionally, several U.S. Federal Reserve policy makers hinted the central bank will increase interest rates in December. The Nasdaq marched into the red for 2015.

Top News in the Stock Market Today

  • The Stock Market Today: Investors will focus on reports on retail sales, the producer price index, and consumer sentiment. Also in play is the October report on vehicle sales and the November update to the University of Michigan Consumer Sentiment report.
  • Oil Outlook: Oil prices were up marginally despite news that oil was headed for a large weekly loss. Yesterday, the U.S. Energy Information Administration reported oil inventories surged well beyond market expectations. It was the seventh straight week of inventory builds. December WTI prices fell 0.1% to hit $41.69, while Brent oil crude – priced in London – gained 1% to hit $44.48.

Pre-Market Movers: JCP, VRX, FIT, ECP, ENR

  • Pre-Market Movers No. 1, JCP: Shares of JC Penney Co. Inc. (NYSE: JCP) gained 3.3% on news the company reported an adjusted per share loss of $0.47 for the third quarter. That topped Wall Street expectations for a negative EPS of $0.55. The firm also surpassed revenue forecasts and said that its same-store sales increased by 6.4%.
  • Pre-Market Movers No. 2, VRX: Shares of Valeant Pharmaceuticals Intl. Inc. (NYSE: VRX) are falling again. The company and activist investor Bill Ackman are expected to face an insider trading probe tied to Botox manufacturer Allergan Plc. (NYSE:AGN).
  • Pre-Market Movers No. 3, FIT: Shares of Fitbit Inc. (NYSE: FIT) were off more than 7% on news that the manufacturer of wearable fitness gadgets priced a secondary offering at $29 per share. The good news is that the offering was slashed down from seven million shares to three million shares.
  • Pre-Market Movers No. 4, ECP: Shares of Edgewell Personal Care Co. (NYSE: EPC) were off more than 4.8% this morning. The manufacturer of Schick razors reported an adjusted quarterly profit of $0.64. That fell short of Wall Street expectations by $0.05. The company said that it’s dealing with operational challenges, but expects better financial performance in the wake of its spin off from Energizer Holdings Inc. (NYSE: ENR).
  • Pre-Market Movers No. 5, SYT: Shares in agrichemicals company Syngenta Inc. (NYSE: SYT) jumped more than 7% this morning. The company said it has rejected a $42 billion takeover bid by state-owned China National Chemical Corp, according to a report from Bloomberg. The company has previously rejected similar deals from global seed manufacturer Monsanto Co. (NYSE: MON).

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

  • PPI-FD at 8:30 a.m.
  • Retail Sales at 8:30 a.m.
  • Business Inventories at 10 a.m.
  • Consumer Sentiment at 10 a.m.
  • EIA Natural Gas Report at 10:30 a.m.
  • Cleveland Federal Reserve Bank President Loretta Mester speaks at 11:45 a.m.
  • Baker-Hughes Rig Count at 1 p.m.

What Investors Must Know This Week

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