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Hot Stock News for Options Traders

Dow Jones Industrial Average Could Challenge 17,000 Again

JPM shares are slipping after news of the CEO's diagnosis

by 7/2/2014 8:15:19 AM
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:DJI) is pointed higher in pre-market action, with the blue-chip index on pace to revisit Tuesday's record peak. Traders today are looking ahead to the release of private-sector U.S. payrolls data, as well as a speech from Federal Reserve Chair Janet Yellen on the topic of instability in financial markets.

In equity news, Dow component JPMorgan Chase & Co. (NYSE:JPM) will be in focus today, after the company last night disclosed that CEO Jamie Dimon has been diagnosed with a curable form of throat cancer. In a statement, Dimon said he will "continue to be actively involved" in business operations while he undergoes chemotherapy and radiation treatment. Ahead of the bell, JPM shares are off 0.5%.

Plus, our Trading Topic of the Week -- Ways to Win with Aggressive Trades: Stay open to both bullish and bearish setups. Thanks to the flexibility of options, you can reap leveraged profits even when the market is in sell-off mode.

And now, on to the numbers...

Dow Jones Industrial Average, S&P and Nasdaq futures

Futures on the Dow Jones Industrial Average 2 Minute (INDEXDJX:.DJI) are nearly 20 points above fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1.21 million call contracts traded on Tuesday, compared to 623,259 put contracts. The resultant single-session put/call ratio edged up to 0.51, while the 21-day moving average held steady around 0.50.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index is just north of breakeven ahead of the bell, up 0.06% at 79.86.
  • Crude oil is modestly lower in pre-market action, off 0.2% at $105.09 per barrel.
  • Gold futures, meanwhile, have ticked up 0.09% to $1,327.80 per ounce.
Currencies and commodities

Earnings and Economic Data

The regularly scheduled crude inventories update, factory orders data, and the Automatic Data Processing (ADP) employment report will be released today. Furthermore, Fed Chair Janet Yellen is scheduled to speak at the International Monetary Fund's (IMF) central banking conference. Constellation Brands (STZ) will report quarterly earnings.

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