"The Dow Jones Industrial Average (INDEXDJX:.DJI) snapped its six-session losing streak on Thursday, despite a three-hour halt to trading on the Nasdaq thanks to a technological glitch," said Schaeffer's Senior Options Strategist Tony Venosa, CMT. However, the blue-chip barometer is on pace to pare a portion of yesterday's 66-plus-point advance, with futures pointed modestly lower. As Venosa notes, "The housing sector will be in the spotlight this morning, with new home sales for July set for release at 10:00 a.m. ET." Additionally, the Fed will remain at the forefront, as central bank officials gather in Jackson Hole, Wyo., for the Federal Reserve's annual symposium.
Futures on the Dow Jones Industrial Average 2 Minute (INDEXDJX:.DJI) are roughly 5 points below fair value.
The Chicago Board Options Exchange (CBOE) saw 791,998 call contracts traded on Thursday -- the fewest since July 5 -- compared to 434,075 put contracts. The resultant single-session put/call ratio dropped to 0.55, while the 21-day moving average fell to 0.58.
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Earnings and Economic Data
Ending this week's round of economic reports are new home sales figures for July, while quarterly earnings reports are due from Ann (ANN) and Foot Locker (FL).
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