Opening View

Dow Jones Industrial Average Futures Swoon on Disappointing Euro-Zone Data

Weaker-than-forecast GDP weighs on European markets

by 2/14/2013 8:07:55 AM
Stocks quoted in this article:

The Dow Jones Industrial Average (DJI) is pointed decidedly lower ahead of the bell, after data showed economic activity in the euro zone contracted by a wider-than-expected margin in the fourth quarter.

On the home front, "We saw mixed markets yesterday, as Nasdaq stocks were the leaders, while retailing names saw some profit taking following an in-line January retail sales number," observed Schaeffer's Senior Options Strategist Tony Venosa, CMT. "One major piece of economic news today is the weekly jobless claims number, due at 8:30 a.m. ET."

And now, on to the numbers...

Dow Jones Industrial Average, S&P and Nasdaq futures

Futures on the Dow Jones Industrial Average are nearly 63 points below fair value.

Market Statistics

Equity option activity on the Chicago Board Options Exchange (CBOE) saw 1,009,034 call contracts traded on Wednesday, compared to 657,978 put contracts. The resultant single-session put/call ratio advanced to 0.65, while the 21-day moving average edged lower to 0.64.

NYSE and Nasdaq summary

Volatility indices

From the Trading Floor

"Earnings season is tapering off, but markets will still get to react to some big reports that happened last night," Venosa remarked. "Visiting the earnings confessional after the close were Cisco Systems (NASDAQ:CSCO), NVIDIA (NASDAQ:NVDA), Applied Materials (NASDAQ:AMAT), Whole Foods (NASDAQ:WFM), and NetApp (NASDAQ:NTAP)."

Currencies and Commodities

  • The U.S. dollar index is pointed 0.6% higher ahead of the bell, with the currency trading near $80.55.
  • Crude oil is on track to extend yesterday's modest losses, with the front-month contract 0.2% lower at $97.41 per barrel.
  • Elsewhere, gold futures are looking to gain some ground, with April-dated gold up 0.2% at $1,647.50 an ounce.
Currencies and commodities

Earnings and Economic Data

Today's economic docket will feature weekly jobless claims. Wall Street can expect earnings reports from General Motors (GM), PepsiCo (PEP), Alpha Natural Resources (ANR), Barrick Gold (ABX), CBS Corporation (CBS), DIRECTV (DTV), Molson Coors Brewing (TAP), Waste Management (WM), Vulcan Materials (VMC), and Orbitz Worldwide (OWW).

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