Opening View

Dow Jones Industrial Average Pointed Lower as Profit-Seekers Emerge

Activity in China's non-manufacturing sector rose for a third straight month

by 1/3/2013 8:13:02 AM
Stocks quoted in this article:

Following its best-ever first-day-of-the-year rally, the Dow Jones Industrial Average (DJI) appears poised for a round of profit-taking. At last check, futures on the blue-chip barometer were pointed modestly lower in pre-market trading. As Schaeffer's Senior Options Strategist Tony Venosa noted, "The broad-based rally from Monday carried into Wednesday, with most of the major indices closing near the highs of the day. The Nasdaq Composite led the way, moving up over 3%." Venosa continued, "Today and tomorrow should be quite busy, with numerous economic reports on the docket. The abbreviated week will be capped off with the December employment report, set to be released on Friday 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 more than 38 points below fair value.

Market Statistics

Equity option activity on the Chicago Board Options Exchange (CBOE) saw 1,031,381 call contracts traded on Wednesday -- the most since Dec. 18 -- compared to 567,180 put contracts. The resultant single-session put/call ratio dropped to 0.55, while the 21-day moving average fell to 0.63.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index has tacked on 0.3% ahead of the bell to trade at $80.11.
  • Crude oil has pulled back from Wednesday's gains, with February-dated crude down 0.6% at $92.58 per barrel.
  • Gold futures are lower, as well, with the front-month contract shedding 0.4% in pre-market trading to hover near $1,681.70 an ounce.
Currencies and commodities

Earnings and Economic Data

Today's round-up will include weekly jobless claims, the monthly ADP employment report, and the holiday-delayed crude inventories data. Wall Street can expect earnings reports from AngioDynamics (ANGO), Family Dollar Stores (FDO), and Sonic (SONC).

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