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Dow Jones Industrial Average Bounces Back on Solid Start to Earnings Season

AA kicked off second-quarter earnings season with a win

by 7/9/2014 8:06:45 AM
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:DJI) is sitting modestly higher this morning, following yesterday's triple-digit drop. In early trading, a strong start to earnings season from aluminum giant Alcoa Inc (NYSE:AA) should garner its fair share of attention. However, traders will keep one eye trained on the latter half of the session, when the Federal Open Market Committee (FOMC) releases its latest meeting minutes at 2 p.m. ET. Specifically, Wall Street will be looking for clues to a timeline for when the Fed could potentially raise interest rates. Against this backdrop, futures on the DJI were last seen roughly 32 points above breakeven.

Plus, our Trading Topic of the Week -- Ways to Interpret Short Interest: Review the recent trend. Have shorts been covering their bearish bets, or ramping them up?

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 32 points above fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1.23 million call contracts traded on Tuesday, compared to 768,609 put contracts. The resultant single-session put/call ratio rose to 0.63, while the 21-day moving average edged higher to 0.52.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index is sitting just above breakeven this morning to trade at 80.20.
  • Elsewhere, crude oil is on pace to notch its ninth straight day of losses, with black gold down 0.08% ahead of the bell to linger near $103.32 per barrel.
  • Gold, meanwhile, is on the mend, with the commodity up 0.7% at last check to $1,325.60 an ounce.
Currencies and commodities

Earnings and Economic Data

The minutes from the latest FOMC meeting will hit the Street today, along with the usual crude inventories report. WD-40 (WDFC) will announce earnings.

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