"The Dow Jones Industrial Average (INDEXDJX:.DJI) closed just a hair's breadth above the 15,000 mark on Friday, but still notched its third-consecutive weekly loss," reminded Schaeffer's Senior Options Strategist Tony Venosa, CMT. This round-number level will be put to the test in today's session, though, with futures pointed modestly lower ahead of the bell. "Keep an eye on the basic materials sector as it continues its relative strength -- outperforming all other sectors since the S&P 500 Index (SPX) topped out on Aug. 2. I'll also be watching the report on durable goods orders for July, which could potentially have an impact on the market."
Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are nearly 12 points south of fair value.
The Chicago Board Options Exchange (CBOE) saw 1,069,709 call contracts traded on Friday, compared to 641,067 put contracts. The resultant single-session put/call ratio rose to 0.60, while the 21-day moving average remained at 0.58.
Currencies and Commodities
Earnings and Economic Data
The week kicks off with durable goods orders and the Dallas Fed's manufacturing survey. Meanwhile, Qihoo 360 Technology (QIHU) is scheduled to report earnings.
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