"It was a volatile session on Wednesday, but by the time the dust settled, the Dow Jones Industrial Average (INDEXDJX:.DJI) finished near its breakeven level," said Schaeffer's Senior Options Strategist Tony Venosa, CMT. The blue-chip index is sticking close to the flat line this morning, as investors look toward another round of economic data, including a pair of jobs reports and the preliminary reading on third-quarter gross domestic product (GDP). Wall Street is keeping close tabs on the data points for hints as to whether or not the Federal Reserve will begin tightening the asset-purchasing belt at its upcoming December meeting.
Meanwhile, Venosa says to "Pay attention to the CBOE Volatility Index (INDEXCBOE:VIX). It has been creeping higher over the past two weeks, as investors may be looking to hedge in the final weeks of 2013."
Futures on the Dow Jones Industrial Average 2 Minute (INDEXDJX:.DJI) are 8 points above breakeven.
The Chicago Board Options Exchange (CBOE) saw 1,021,052 call contracts traded on Wednesday, compared to 576,083 put contracts. Both the resultant single-session put/call ratio and the 21-day moving average arrived at 0.56.
Currencies and Commodities
Earnings and Economic Data
The Challenger, Gray & Christmas job cuts announcement, the Labor Department's preliminary third-quarter GDP reading, weekly jobless claims, and factory orders are on the schedule for today. Telling all in the earnings confessional are Diamond Foods (DMND), Dollar General (DG), Finisar (FNSR), Jos. A. Bank Clothiers (JOSB), Kroger (KR), Pacific Sunwear (PSUN), ReneSola (SOL), Titan Machinery (TITN), and Ulta Salon, Cosmetics & Fragrance (ULTA).
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