Opening View

Dow Jones Industrial Average Higher as Earnings Season Looms

The Bank of England opts to leave its interest rate at a record-low level

by 1/9/2014 8:13:40 AM
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:.DJI) is higher this morning, as investors look toward today's weekly jobless claims number for clues on the strength of the economy. Additionally, Kansas City Fed President Esther George is slated to give a speech later this afternoon. Meanwhile, fourth-quarter earnings season unofficially begins after the close, when Alcoa Inc (NYSE:AA) unveils its results.

Elsewhere, Schaeffer's Senior Options Strategist Tony Venosa, CMT, says to "Keep an eye on the S&P 500 Index (SPX), which appears to be forming a bull flag from its late-December peak. This may imply an anticipated move higher soon."

And now, on to the numbers...

Dow Jones Industrial Average, S&P and Nasdaq futures

Futures on the Dow Jones Industrial Average 2 Minute (INDEXDJX:.DJI) are more than 64 points above breakeven.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1,414,755 call contracts traded on Wednesday, compared to 710,741 put contracts. The resultant single-session put/call ratio rose to 0.50, while the 21-day moving average fell to 0.53.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S dollar index is sitting 0.03% below breakeven this morning, with the currency last seen at 81.00.
  • Elsewhere, crude oil is looking to bounce back from yesterday's drop, with the front-month contract up 0.5% at $92.82 per barrel.
  • Gold futures are higher, as well, with the malleable metal tacking on 0.4% ahead of the bell to trade at $1,229.90 an ounce.
Currencies and commodities

Earnings and Economic Data

Weekly jobless claims are slated for today. Among the companies reporting earnings are SUPERVALU (SVU) and PriceSmart (PSMT). Additionally, fourth-quarter earnings season unofficially kicks off when AA steps into the confessional after the close.

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