The Dow Jones Industrial Average (INDEXDJX:.DJI) is sitting slightly in the green this morning, as investors take a cautious stance ahead of the open. "Earnings season continues this week, and some big names reported last night, including Netflix, Inc. (NASDAQ:NFLX) and Texas Instruments Incorporated (NASDAQ:TXN)," commented Schaeffer's Senior Options Strategist Tony Venosa, CMT. "Meanwhile, following a delay of more than two weeks during the government shutdown, the September employment number will be released this morning." Also on tap is construction spending for August, which was initially postponed due to the gridlock in Washington.
On the charts, Venosa will be "keeping an eye on the SPDR S&P 500 ETF's (SPY) 175 level, which is home to peak call open interest in the November series. These calls could pose a potential roadblock for further advancement in the near term."
Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are 3 points above breakeven.
The Chicago Board Options Exchange (CBOE) saw 1,431,721 call contracts traded on Monday, compared to 765,823 put contracts. The resultant single-session put/call ratio rose to 0.53, while the 21-day moving average stayed at 0.61.
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The Labor Department's nonfarm payrolls report for September and construction spending for August are both slated for release today, after initially being delayed due to the government shutdown. Entering the earnings confessional are DuPont (DD), Travelers Companies (TRV), Freeport-McMoRan Copper & Gold (FCX), AK Steel Holding (AKS), Amgen (AMGN), Apollo Group (APOL), ARM Holdings (ARMH), Broadcom Corporation (BRCM), Coach (COH), Cree (CREE), Delta Air Lines (DAL), EMC Corporation (EMC), Harley-Davidson (HOG), Juniper Networks (JNPR), Kimberly-Clark (KMB), PNRA, RadioShack (RSH), and Whirlpool (WHR).
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