The Dow Jones Industrial Average (INDEXDJX:.DJI) is bracing for a sharply lower open on accounts that a number of prominent Chinese lenders wrote off billions of bad debt earlier this year. Also, reports out of Beijing show that near-term interest rates jumped amid concerns over rising inflation. Against this backdrop, futures on the blue-chip barometer are sitting nearly 71 points below breakeven.
Back on the homefront, "The September nonfarm payrolls report came in below expectations yesterday, which prompted speculation that the Federal Reserve may delay its plans to taper bond purchases," noted Schaeffer's Senior Options Strategist Tony Venosa, CMT. "Meanwhile, markets will continue to focus on earnings this morning, with big names such as The Boeing Company (NYSE:BA) and Caterpillar Inc. (NYSE:CAT) reporting."
Futures on the Dow Jones Industrial Average 2 Minute (INDEXDJX:.DJI) are roughly 71 points below breakeven.
The Chicago Board Options Exchange (CBOE) saw 1,434,251 call contracts traded on Tuesday, compared to 780,403 put contracts. The resultant single-session put/call ratio edged higher to 0.54, while the 21-day moving average fell to 0.60.
Currencies and Commodities
Earnings and Economic Data
The Federal Housing Finance Agency (FHFA) house price index, import and export prices for September, and regularly scheduled weekly crude inventories are on the docket for today. Included on the earnings calendar are AT&T (T), BA, CAT, Airgas (ARG), Akamai Technologies (AKAM), Allegheny Technologies (ATI), American Electric Power (AEP), Angie's List (ANGI), Brinker International (EAT), Bristol-Myers Squibb (BMY), Canon (CAJ), Cheesecake Factory (CAKE), Citrix Systems (CTXS), Dr Pepper Snapple Group (DPS), E*TRADE (ETFC), Eli Lilly (LLY), F5 Networks (FFIV), Motorola Solutions (MSI), Nielsen Holdings (NLSN), Skechers USA (SKX), Tractor Supply (TSCO), TripAdvisor (TRIP), US Airways Group (LCC), and WellPoint (WLP).
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