The Dow Jones Industrial Average is solidly lower in pre-market trading, however, the futures market will shutter its doors at 9:15 a.m. ET as Wall Street braces for Hurricane Sandy. Despite the shutdown, "This coming week should be busy, as earnings season continues, and the October employment report will be released Friday," said Schaeffer's Senior Options Strategist Tony Venosa. Although some companies have chosen to postpone their scheduled earnings results, traders will still have the chance to digest a number of economic reports today, including "personal income and spending numbers for September."
Futures on the Dow Jones Industrial Average are more than 76 points below fair value.
Equity option activity on the Chicago Board Options Exchange (CBOE) saw 945,281 call contracts traded on Friday, compared to 725,184 put contracts. The resultant single-session put/call ratio rose to 0.77, while the 21-day moving average improved to 0.69.
Currencies and Commodities
Earnings and Economic Data
The week kicks off with personal income/spending data and the Dallas Fed's manufacturing index. Meanwhile, Cirrus Logic (CRUS), Baidu (BIDU), Forest Oil (FST), Herbalife (HLF), Vertex Pharmaceuticals (VRTX), Yamana Gold (AUY), Burger King Worldwide (BKW), Eagle Materials (EXP), FMC Corporation (FMC), Red Robin Gourmet Burgers (RRGB), Hertz Global Holdings (HTZ), Loews Corporation (L), and Masco (MAS) are due to report quarterly earnings; however, be sure to check with each company's respective website, as a number of reports will be delayed due to Hurricane Sandy.
Recent XIV Action May Bode Well for Bulls
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