Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are modestly higher ahead of the bell, with the blue-chip barometer on pace to notch a third consecutive week of gains. While the latest consumer sentiment index, durable goods orders, and the delayed wholesale inventories report are on the day's economic docket, earnings from a handful of tech names should attract the majority of investors' attention. Specifically, Amazon.com, Inc. (NASDAQ:AMZN), Microsoft Corporation (NASDAQ:MSFT), and Zynga Inc (NASDAQ:ZNGA) are all up in pre-market trading, after unveiling their respective quarterly reports last night.
Meanwhile, "The SPDR S&P 500 ETF (SPY) closed slightly above the $175 level on Thursday, which is home to peak call open interest in both the 10/25 weekly and the November series," said Schaeffer's Senior Options Strategist Tony Venosa, CMT. "Continue to watch this area today, as failure to stay above it could pressure shares lower."
Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are roughly 20 points above breakeven.
The Chicago Board Options Exchange (CBOE) saw 1,320,529 call contracts traded on Thursday, compared to 786,479 put contracts. Both the resultant single-session put/call ratio and the 21-day moving average arrived at 0.60.
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Earnings and Economic Data
The final reading of the Thomson Reuters/University of Michigan consumer sentiment index for October and durable goods for September will close out the week's lineup of economic reports. Additionally, the wholesale inventories report for August, originally slated for release on Oct. 9, has been added to the day's docket. Meanwhile, Procter & Gamble (PG), United Parcel Service (UPS), ImmunoGen (IMGN), Legg Mason (LM), and Sherwin-Williams (SHW) will step into the earnings confessional.
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