The Dow Jones Industrial Average (INDEXDJX:.DJI) is on the mend this morning, with futures pointed higher. "Equities ended last week on a bloody note, and all three major indices closed beneath their respective year-to-date breakeven levels," noted Schaeffer's Senior Options Strategist Tony Venosa, CMT. "The DJI remains the big underperformer, down more than 4% in 2014."
In today's session, new home sales and the Dallas Fed's manufacturing survey are the sole economic reports being released; however, "Earnings season continues, with Caterpillar Inc. (NYSE:CAT) and Apple Inc. (NASDAQ:AAPL) among some of the big names reporting," continued Venosa. "Also, markets will be focused on Wednesday's release of the Federal Open Market Committee (FOMC) policy statement to see whether the central bank will continue to taper its asset-purchasing program." Ahead of the bell, CAT has tacked on 6.2%, following its stronger-than-expected fourth-quarter results.
Futures on the Dow Jones Industrial Average 2 Minute (INDEXDJX:.DJI) are about 61 points above breakeven.
The Chicago Board Options Exchange (CBOE) saw 1,660,673 call contracts traded on Friday, compared to 1,146,225 put contracts. The resultant single-session put/call ratio rose to 0.69 -- its highest reading since Nov. 19 -- while the 21-day moving average remained at 0.54.
Currencies and Commodities
Earnings and Economic Data
The week's economic calendar kicks off with new home sales and the Dallas Fed's manufacturing survey. Meanwhile, earnings reports from CAT, AAPL, American Electric Power (AEP), Seagate Technology (STX), and U.S. Steel (X) will be released.
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