The Dow Jones Industrial Average (INDEXDJX:.DJI) is poised to notch another record peak -- and a weekly win -- with futures pointed modestly higher ahead of the bell. While both the earnings and economic calendar are bare on what's expected to be a light-volume session, a number of notable equities will be in focus, including Apple Inc. (NASDAQ:AAPL). The iPhone purveyor announced it is once again looking to block Samsung Electronics from selling some of its products in the U.S.
Elsewhere, "I'm keeping a close eye on the CBOE Volatility Index (INDEXCBOE:VIX) as it lingers near 12," said Schaeffer's Senior Trading Analyst Bryan Sapp. "This area has been a key floor for most of the year -- with some small gyrations around it -- and could be a sign that this rally is a bit long in the tooth at the moment."
Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are roughly 23 points above breakeven.
The Chicago Board Options Exchange (CBOE) saw 841,970 call contracts traded on Thursday, compared to 496,660 put contracts. The resultant single-session put/call ratio jumped to 0.59, while the 21-day moving average stayed at 0.55.
From the Trading Floor
"The American Association of Individual Investors (AAII) poll that surfaced yesterday showed the percentage of bulls at a three-year high," noted Sapp. "This may be a sign that the markets could potentially use a correction to shake out a few longs."
Currencies and Commodities
Earnings and Economic Data
Today's slate is void of any notable economic or earnings reports.
Recent XIV Action May Bode Well for Bulls
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