Opening View

Dow Jones Industrial Average Looks to Bounce Back

European traders are cautiously optimistic that a Spanish bailout is on the horizon

by 10/22/2012 8:19:59 AM
Stocks quoted in this article:

Futures on the Dow Jones Industrial Average (DJI) are on the mend ahead of the bell, with Wall Street set to digest the latest batch of blue-chip and tech-sector earnings. "The technology sector's recent underperformance and poor earnings results from the likes of Google (NASDAQ:GOOG) and International Business Machines (NYSE:IBM) can be blamed for Friday's downdraft," said Schaeffer's Senior Options Strategist Tony Venosa. "The S&P 500 Index (SPX) was on track for a solid weekly gain, but only managed to add a slight 0.3%. This week, earnings will remain on the radar, as well as the last Federal Open Market Committee (FOMC) meeting before the Presidential election."

And now, on to the numbers...

Dow Jones Industrial Average, S&P and Nasdaq futures

Futures on the Dow Jones Industrial Average are about 6.5 points above fair value.

Market Statistics

Equity option activity on the Chicago Board Options Exchange (CBOE) saw 1,251,216 call contracts traded on Friday, compared to 998,182 put contracts. The resultant single-session put/call ratio soared to 0.80 -- the highest since Aug. 30 -- while the 21-day moving average rose to 0.67.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index is down 0.1% to hover near $79.51.
  • Crude oil is on the rebound this morning, with the front-month contract last seen 0.7% higher at $91.04 per barrel.
  • Gold futures are bouncing back from six-week lows, with December-dated gold 0.2% higher at $1,727 an ounce.
Currencies and commodities

Earnings and Economic Data

The economic calendar is rather quiet to open the week, but Wall Street will be busy with quarterly reports from Caterpillar (CAT), Freeport-McMoRan Copper & Gold (FCX), Hasbro (HAS), Health Management Associates (HMA), Peabody Energy (BTU), PetMeds Express (PETS), Rent-A-Center (RCII), SunTrust Banks (STI), Swift Transportation (SWFT), Texas Instruments (TXN), Veeco Instruments (VECO), VF Corp (VFC), Western Digital (WDC), Yahoo! (YHOO), and Zions Bancorp (ZION).

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