"Wednesday afternoon's release of the Federal Open Market Committee (FOMC) meeting minutes sparked volatility through the close, causing the Dow Jones Industrial Average (INDEXDJX:.DJI) to close south of the 15K mark for the first time since early July," noted Schaeffer's Senior Options Strategist Tony Venosa, CMT. "Conversely, Treasury yields moved higher, as investors worried that the tapering of bond-buying purchases may arrive sooner rather than later." However, U.S. equities markets are eyeing a rebound in today's session, thanks to a round of upbeat manufacturing data from overseas. Back on the homefront, Venosa reminds us, "Markets will have the chance to digest weekly jobless claims, as well as leading indicators."
Futures on the Dow Jones Industrial Average 2 Minute (INDEXDJX:.DJI) are more than 14 points above fair value.
The Chicago Board Options Exchange (CBOE) saw 938,774 call contracts traded on Wednesday, compared to 605,156 put contracts. The resultant single-session put/call ratio moved to 0.64, while the 21-day moving average stayed at 0.59.
Currencies and Commodities
Earnings and Economic Data
On today's docket are weekly jobless claims, the Conference Board's index of leading economic indicators, the Kansas City Fed's manufacturing survey, the Flash purchasing managers index (PMI), and the Federal Housing Finance Agency (FHFA) house price index. The earnings docket includes GameStop (GME), Gap (GPS), Marvell Technology (MRVL), Pandora Media (P), Abercrombie & Fitch (ANF), Aeropostale (ARO), Aruba Networks (ARUN), Autodesk (ADSK), Bon-Ton Stores (BONT), Buckle (BKE), Children's Place (PLCE), DFC Global (DLLR), Dollar Tree (DLTR), Hormel Foods (HRL), Immunomedics (IMMU), Nordson (NDSN), Perry Ellis (PERY), and Stein Mart (SMRT).
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