Opening View

Dow Jones Industrial Average Bounces Back; Fed Speeches in Focus

Retail stocks help European bourses buck the global bearish bias

by 1/3/2014 8:11:46 AM
Stocks quoted in this article:

"Equities began the new year on a negative note, as the Dow Jones Industrial Average (INDEXDJX:.DJI) fell more than 135 points, a drop that was mostly blamed on broad-based profit-taking," noted Schaeffer's Senior Options Strategist Tony Venosa, CMT. The blue-chip barometer is poised to regain a portion of these losses in today's session, with futures modestly higher ahead of the bell. On the economic front, vehicle sales for December are slated for release. However, the majority of attention should revolve around the Federal Reserve, with a number of officials -- including Fed Chairman Ben Bernanke -- slated to take the stage throughout the session.

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 roughly 39 points north of breakeven.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1,095,587 call contracts traded on Thursday, compared to 616,347 put contracts. The resultant single-session put/call ratio rose to 0.56, while the 21-day moving average remained at 0.54.

NYSE and Nasdaq summary

Volatility indices

From the Trading Floor

"The most recent American Association of Individual Investors (AAII) sentiment survey was released yesterday," continued Venosa. "The latest data showed the largest weekly increase in bearish sentiment -- a 58% rise -- since April 11."

Currencies and Commodities

  • The U.S dollar index is flirting with a 0.07% drop ahead of the bell, with the currency last seen at 80.57.
  • Elsewhere, crude oil is on pace to extend Thursday's losses, with February-dated crude down 0.06% at $95.38 per barrel.
  • Gold futures, meanwhile, are poised to continue yesterday's run higher, with the front-month contract up 0.5% to $1,231 an ounce.
Currencies and commodities

Earnings and Economic Data

Motor vehicle sales will close out the week's schedule of economic reports. Lindsay Corp. (LNN) is expected to announce earnings.

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