The Dow Jones Industrial Average (INDEXDJX:.DJI) is once again wobbling around breakeven, as Wall Street awaits the government's monthly payrolls report. A solid jobs number could have broader implications, as an improving labor market could signal Fed tapering sooner rather than later.
"Intraday market action was quiet on the eve of the August employment figures," noted Schaeffer's Senior Options Strategist Tony Venosa, CMT. "Indexes did finish positively on stronger-than-expected economic data, from jobless claims to productivity. What's more, the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) broke through the $166 level, site of peak call open interest expiring today, but was once again unable to close above this area. This will be a key level in today's action, so watch carefully."
Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are sitting nearly 8 points above fair value.
The Chicago Board Options Exchange (CBOE) saw 923,418 call contracts traded on Thursday, compared to 481,843 put contracts. The resultant single-session put/call ratio fell to 0.52, and the 21-day moving average dropped to 0.58.
Currencies and Commodities
Earnings and Economic Data
Ending this week's round of economic data is the Labor Department's nonfarm payrolls report and the unemployment rate. Mattress Firm (MFRM), SHFL entertainment (SHFL), and Smithfield Foods (SFD) will close out the week's earnings reports.
9 Levels to Watch for Apple Inc.
Featured Partners: AOL DailyFinance
© 2013 Schaeffer's Investment Research, Inc. 5151 Pfeiffer Road, Suite 250, Cincinnati, Ohio 45242
Phone: (800) 448-2080 FAX: (513) 589-3810 Int'l Callers: (513) 589-3800 Email: email@example.com
All Rights Reserved. Unauthorized reproduction of any SIR publication is strictly prohibited.
Market Data provided by QuoteMedia.com | Data delayed 15-20 minutes unless otherwise indicated.