Following five consecutive daily closes in the green, the Dow Jones Industrial Average (INDEXDJX:DJI) is poised for a slow start -- but still on track for a weekly win. Additionally, futures on the broader S&P 500 Index (SPX) are modestly lower, after the index notched its 21st record close in 2014 on Thursday. Although the day's economic calendar is bare, today is quadruple-witching expiration, meaning equity options, stock index futures, stock index options, and single stock futures expire -- which could create some additional volatility in the markets.
Meanwhile, on the corporate front, General Electric Company (NYSE:GE) could garner its fair share of attention after Siemens AG and Mitsubishi Heavy Industries Ltd. (MHI) offered up a joint bid for Alstom SA's energy arm. Alstom's board is set to review both GE's bid and this new proposal on Monday.
Futures on the Dow Jones Industrial Average 2 Minute (INDEXDJX:.DJI) are more than 3 points below breakeven.
The Chicago Board Options Exchange (CBOE) saw 1,206,358 call contracts traded on Thursday, compared to 561,002 put contracts. The resultant single-session put/call ratio jumped to 0.47, while the 21-day moving average fell to 0.51.
Currencies and Commodities
Earnings and Economic Data
There are no significant economic reports slated for "quadruple witching" Friday. The week concludes with CarMax (KMX) and Darden Restaurants (DRI) stepping into the earnings spotlight.
The Case for Big Moves in IWM and QQQ
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