The Dow Jones Industrial Average (INDEXDJX:.DJI) is pointed higher this morning, with the blue-chip barometer on pace to rebound from last week's losses. As Schaeffer's Senior Options Strategist Tony Venosa, CMT, noted, "Trading on Friday was still relatively light due to the holiday season and the winter storm that gripped most of the country. The Nasdaq Composite (COMP) was the biggest laggard, weighed down by a 2% drop in Apple Inc. (NASDAQ:AAPL) shares. This morning, markets will react to factory orders for November, as well as the Institute for Supply Management's (ISM) non-manufacturing index for December." Additionally, the Senate is expected to cast its final vote for the nomination of Janet Yellen as the next head of the Federal Reserve.
Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are 40 points above breakeven.
The Chicago Board Options Exchange (CBOE) saw 1,148,373 call contracts traded on Friday, compared to 623,494 put contracts. Both the resultant single-session put/call ratio and the 21-day moving average arrived at 0.54.
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Earnings and Economic Data
The ISM's non-manufacturing index and factory orders for November will hit the Street today. Sonic (SONC) is set to report earnings.
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