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.
Currencies and Commodities
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.
The Case for Big Moves in IWM and QQQ
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