"The Nasdaq fell into negative territory yesterday, as Apple Inc. (NASDAQ:AAPL) led technology shares lower; however, the Dow Jones Industrial Average (INDEXDJX:.DJI) closed up 118 points," said Schaeffer's Senior Options Strategist Tony Venosa, CMT. "The big event this week is the two-day Federal Open Market Committee (FOMC) meeting, which convenes today. Release of the policy statement, meanwhile, is due at 2:00 p.m. ET on Wednesday. The latest rumors appear to be looking for some announcement on when a tapering of bond purchases will begin." Ahead of this market-moving occasion, futures on the blue-chip barometer are pointed modestly higher, with the index poised for a third straight day in the green.
Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are more than 25 points above fair value.
The Chicago Board Options Exchange (CBOE) saw 990,144 call contracts traded on Monday, compared to 567,465 put contracts. The resultant single-session put/call ratio dropped to 0.57, while the 21-day moving average remained at 0.58.
Currencies and Commodities
Earnings and Economic Data
Today's docket includes Treasury International Capital (TIC) data for July, the consumer price index (CPI) and core CPI, and the NAHB/Wells Fargo housing market index. FactSet Research Systems (FDS) and Adobe Systems (ADBE) are set to report earnings.
9 Levels to Watch for Apple Inc.
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