Opening View

Dow Jones Industrial Average Heads Lower; Payrolls, P&G in the Spotlight

Crude futures continue to churn beneath the century mark

by 8/1/2014 8:16:30 AM
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:DJI) is set to extend yesterday's slide -- the biggest since February -- as traders exercise caution ahead of the highly anticipated nonfarm payrolls report. Economists are calling for the jobless rate to remain at 6.1%, and for a 230,000 increase in jobs. On the earnings front, meanwhile, Dow component The Procter & Gamble Company (NYSE:PG) is headed higher after a well-received earnings report.

Plus, our Trading Topic of the Week -- Trading Low-Priced Options: DO trade stocks with a favorable sentiment backdrop. At Schaeffer's, we use sentiment analysis to determine whether a stock's current trend is likely to continue. To maximize returns, we focus our efforts on outperforming stocks surrounded by skepticism, and lagging equities that continue to attract bullish attention.

And now, on to the numbers...

Dow Jones Industrial Average, S&P and Nasdaq futures

Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are 62 points below fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1.44 million call contracts traded on Thursday, compared to 916,681 put contracts. The resultant single-session equity put/call ratio soared to 0.64, while the 21-day moving average edged higher to 0.60.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index is fractionally higher at 81.50.
  • Crude oil is extending its slide beneath the century mark, down 0.6% at $97.55 per barrel.
  • Gold, meanwhile, is poised to snap its recent losing streak, up 0.1% at $1,284.30 an ounce.
Currencies and commodities

Earnings and Economic Data

Today is chock-full of numbers, including July motor vehicle sales, the Labor Department's nonfarm payrolls report, personal income and expenses, the purchasing managers manufacturing index (PMI), the Thomson Reuters/University of Michigan final consumer sentiment survey for July, the Institute for Supply Management's (ISM) manufacturing index, and construction spending figures. Chevron (CVX), PG, and Clorox (CLX) will close out the week's lineup of earnings reports.

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