Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are lower, with the blue-chip barometer not only on pace to log its sixth consecutive loss, but also to lose its perch atop the round-number 15,000 mark. However, despite "the Dow finishing in the red for a fifth straight session yesterday, most U.S. stocks saw a slight rebound on Turnaround Tuesday," said Schaeffer's Senior Options Strategist Tony Venosa, CMT. "The SPDR S&P 500 ETF Trust (SPY) was able to climb back above the $165 mark -- site of peak put open interest in the front-month series -- and small-caps finished nearly 1.5% higher." In today's session, Venosa notes, "Markets will be awaiting the release of the latest Federal Open Market Committee (FOMC) meeting minutes at 2:00 p.m. ET, looking for any hints on when we can expect the tapering of bond buying to begin."
Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are sitting 20 points below fair value.
The Chicago Board Options Exchange (CBOE) saw 992,955 call contracts traded on Tuesday, compared to 603,745 put contracts. The resultant single-session put/call ratio rose to 0.61, while the 21-day moving average remained at 0.59.
Currencies and Commodities
Earnings and Economic Data
Due for release today are existing home sales and weekly crude inventories, along with minutes from the latest FOMC meeting. Hewlett-Packard (HPQ), Lowe's (LOW), Target (TGT), American Eagle Outfitters (AEO), Energy XXI (EXXI), Hain Celestial (HAIN), J.M. Smucker (SJM), L Brands (LTD), Madison Square Garden (MSG), Noah Holdings (NOAH), PetSmart (PETM), Staples (SPLS), and Toll Brothers (TOL) are all set to report quarterly earnings.
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