The Dow Jones Industrial Average (INDEXDJX:.DJI) is sitting solidly in the green ahead of this morning's release of the December jobs report, with the 30-stock index eyeing its first weekly win of 2014. Additionally, "Alcoa Inc (NYSE:AA) unofficially kicked off earnings season last night, and they beat on fourth-quarter revenue, but missed on profit," said Schaeffer's Senior Options Strategist Tony Venosa, CMT. The aluminum giant is down roughly 7% in pre-market action.
Elsewhere, "Watch the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) near the $182 and $182.50 levels in today's trading," noted Venosa. "Over the past few days, there has been a buildup of puts at the corresponding strikes in the weekly 1/10 series, which expires at tonight's close. This area could be supportive of the shares post-payrolls."
Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are more than 69 points north of breakeven.
The Chicago Board Options Exchange (CBOE) saw 1,492,315 call contracts traded on Thursday, compared to 814,895 put contracts. The resultant single-session put/call ratio climbed to 0.55, while the 21-day moving average remained at 0.53.
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Earnings and Economic Data
The Labor Department's nonfarm payrolls report and wholesale inventories are on today's economic docket. Elsewhere, Infosys (INFY) is set to release earnings.
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