Real-Time Market Insights
Hot Stock News for Options Traders
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:.DJI) is looking to snap its five-session losing streak, with futures pointed solidly higher. There are a handful of data points for investors to digest today, including updates on durable goods, home prices, and consumer confidence. Additionally, the Federal Open Market Committee (FOMC) will begin its two-day policy-setting meeting -- the last with Ben Bernanke at the helm. On the earnings front, blue chips Pfizer Inc. (NYSE:PFE) and DuPont (NYSE:DD) are in the green following their respective reports. However, disappointing holiday iPhone sales and a tepid revenue forecast have Apple Inc. (NASDAQ:AAPL) lower ahead of the bell, with the broader Nasdaq Composite (COMP) following suit.

Meanwhile, "Yesterday's low of 1,772 on the S&P 500 Index (SPX) is now very important, as the broad-market barometer saw a dramatic intraday reversal in the wake of some ugly morning action," noted Schaeffer's Senior Trading Analyst Bryan Sapp. "This level coincides with the lows we saw in mid-December, and could provide some support going forward."

Plus, our Trading Topic of the Week -- 5 Tips for Short-Term Trading: Check the charts for key support and resistance levels. Your time frame may be brief, but don't neglect those long-term charts -- or you could overlook a key stumbling block for the underlying stock.

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 more than 73 points above breakeven.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1,496,685 call contracts traded on Monday, compared to 793,579 put contracts. The resultant single-session put/call ratio dropped to 0.53, while the 21-day moving average stayed at 0.54.

NYSE and Nasdaq summary

Volatility indices

From the Trading Floor

"I think the three-day move higher that we saw in the CBOE Volatility Index (INDEXCBOE:VIX) was a good indication of short-term panic in the market," continued Sapp. "We saw a move from 13 to 19 in a matter of a few days, but the index finished yesterday in the red. Parabolic moves like this have been good buying opportunities for equities in recent years."

Currencies and Commodities

  • The U.S dollar index is 0.2% higher ahead of the bell, with the greenback hovering around 80.70.
  • Elsewhere, a cold front sweeping through the U.S. has crude oil up 0.4% ahead of the bell, with March-dated crude last seen at $96.13 per barrel.
  • Gold futures, meanwhile, are poised to extend yesterday's losses, with the front-month contract down 0.7% at $1,254.40 an ounce.
Currencies and commodities

Earnings and Economic Data

The FOMC begins its two-day policy-setting meeting today. Set for release are durable goods orders for December, the S&P/Case-Shiller home price index, and the Conference Board's consumer confidence index. Announcing quarterly earnings are AT&T (T), DD, PFE, Ford Motor (F), Yahoo! (YHOO), AK Steel (AKS), American Airlines (AAL), Amgen (AMGN), Boston Properties (BXP), Cirrus Logic (CRUS), Comcast (CMCSA), Corning (GLW), D.R. Horton (DHI), Electronic Arts (EA), Illumina (ILMN), T. Rowe Price (TROW), and VMW.

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