Opening View

Dow Jones Industrial Average Higher on Encouraging Global Economic Data

China's exports rose by a wider-than-expected margin

by 1/10/2013 8:17:16 AM
Stocks quoted in this article:

The Dow Jones Industrial Average (DJI) is poised to extend Wednesday's moderate advance, with futures on the blue-chip barometer pointed modestly above breakeven. Positive economic data from around the globe has brought out the bulls, with China reporting stronger-than-anticipated trade data, and a successful bond auction in Spain pulling borrowing costs to multi-month lows.

On the homefront, Schaeffer's Senior Trading Analyst Bryan Sapp will be watching as financial earnings begin to roll in, including "Wells Fargo (NYSE:WFC), which releases its quarterly results on Friday. The other big banks are set to report next week, and, in my opinion, this has major market implications going forward."

And now, on to the numbers...

Dow Jones Industrial Average, S&P and Nasdaq futures

Futures on the Dow Jones Industrial Average are more than 34 points above fair value.

Market Statistics

Equity option activity on the Chicago Board Options Exchange (CBOE) saw 847,872 call contracts traded on Wednesday, compared to 520,752 put contracts. The resultant single-session put/call ratio fell to 0.61, while the 21-day moving average remained at 0.64.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index is down 0.2% in pre-market trading, with the currency last seen lingering near $80.38.
  • Crude oil is on the mend, with the front-month contract up 1.4% to trade at $94.39 per barrel.
  • Meanwhile, gold futures have added 0.5% ahead of the bell, with gold for February delivery hovering near $1,664.30 an ounce.
Currencies and commodities

Earnings and Economic Data

Today brings weekly jobless claims and wholesale inventories, as well as quarterly results for SUPERVALU (SVU) and Xyratex (XRTX).

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