Opening View
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:.DJI) is poised to build on Monday's modest advance, with futures signaling a higher start. The economic calendar is fairly light, but after the opening bell, investors will have the chance to digest the latest JOLTS job openings data, as well as wholesale inventories. Among equities in focus, General Motors Company (NYSE:GM) is up ahead of the open, after the U.S. government announced yesterday it had sold off its remaining shares in the automaker. Additionally, financial firms should garner a fair share of attention, as a vote on the Volcker rule is expected later today.

Meanwhile, "The DJI 16,000 and the S&P 500 Index (SPX) 1,800 are two key levels immediately below current prices," said Schaeffer's Senior Trading Analyst Bryan Sapp. "I would keep a close eye on those two round-number levels going forward, as they've been key support and resistance zones over the past few weeks."

And now, on to the numbers...

Dow Jones Industrial Average, S&P and Nasdaq futures

Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are more than 7 points above breakeven.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 987,552 call contracts traded on Monday, compared to 610,511 put contracts. The resultant single-session put/call ratio rose to 0.62, while the 21-day moving average stayed at 0.56.

NYSE and Nasdaq summary

Volatility indices

From the Trading Floor

"One potentially troublesome sign for stocks is that small-caps underperformed both yesterday and Friday," continued Sapp. "Small-cap leadership has been a good indicator for risk appetite, so continued underperformance by the Russell 2000 Index (RUT) could be indicative of an impending correction."

Currencies and Commodities

  • The U.S dollar index is flirting with a 0.04% loss ahead of the bell, with the greenback hovering around 80.11.
  • Meanwhile, crude oil is poised to bounce from Monday's taper-induced drop, with futures for the January-dated contract up 1.2% to trade at $98.47 per barrel.
  • Gold futures are higher, as well, with the front-month contract sitting on a 1% lead in pre-market trading to linger near $1,246.40 an ounce.
Currencies and commodities

Earnings and Economic Data

Slated for today is the National Federation of Independent Business (NFIB) small-business optimism index, JOLTS job openings, and the latest wholesale inventories update. Announcing quarterly earnings are AutoZone (AZO), H&R Block (HRB), Smith & Wesson (SWHC), and Toll Brothers (TOL).

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