Opening View
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:.DJI) is closing back in on the psychologically significant 16,000 mark this morning, with futures pointed modestly higher. Investors are taking a glass-half-full approach to a budget compromise reached between U.S. negotiators last night. A vote on the deal is expected by Friday.

Meanwhile, "I still have my eye on the S&P 500 Index's (SPX) 1,800 level," noted Schaeffer's Senior Trading Analyst Bryan Sapp. "The market saw support there twice yesterday. Going forward, though, a failure at this round number could potentially result in a move down to 1,780 or so, which is last week's pre-jobs-report low."

And now, on to the numbers...

Dow Jones Industrial Average, S&P and Nasdaq futures

Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are about 20 points above breakeven.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 933,277 call contracts traded on Tuesday, compared to 537,039 put contracts. The resultant single-session put/call ratio fell to 0.58, while the 21-day moving average rose to 0.57.

NYSE and Nasdaq summary

Volatility indices

From the Trading Floor

"Small-caps grossly underperformed yesterday -- the Russell 2000 Index (RUT) fell roughly 0.9% -- and this is a bad sign to me," continued Sapp. "This index made a lower high around 1,136 last Friday, following the jobs report. I would view this as a sign of reduced risk appetite, so long as the index stays south of here."

Currencies and Commodities

  • The U.S dollar index is sitting just below breakeven this morning, with the greenback last seen at 79.96.
  • Elsewhere, crude oil is on pace to pare a portion of Tuesday's gains, with crude for January delivery down 0.1% at $98.39 per barrel.
  • Gold futures are lower, as well, with February-dated gold staring at a 0.3% loss in pre-market trading to hover near $1,257.30 an ounce.
Currencies and commodities

Earnings and Economic Data

Economic reports for today include weekly crude inventories and the Treasury budget. Stepping up to the earnings plate are Coldwater Creek (CWTR), Costco Wholesale (COST), Joy Global (JOY), The Men's Wearhouse (MW), and Vera Bradley (VRA).

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