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Dow Jones Industrial Average Dips Ahead of Housing, PMI Reports

Crude oil is poised to continue its run higher, while gold retreats

by 6/23/2014 8:06:34 AM
Stocks quoted in this article:

Futures on the Dow Jones Industrial Average (INDEXDJX:DJI) are sitting slightly below breakeven this morning, following last week's 1% rally for the 30-stock index. Housing will be in focus during the last full trading week of June, with a slew of economic reports slated for release. In today's session, specifically, data on existing home sales is due at 10 a.m. ET. Elsewhere on the economic front, June's flash purchasing managers index (PMI) will hit the Street at 9:45 a.m. ET. This report comes in the wake of China revealing a better-than-expected PMI overnight, while the eurozone posted a weaker-than-forecast PMI.

Plus, our Trading Topic of the Week -- 5 Tips to Trade Like the Pros: Trade on data, not emotions. How do you avoid getting chewed up by the panic/euphoria machine? By suppressing your fight-or-flight reflex and trading on facts and figures instead.

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 8 points below breakeven.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1,600,399 call contracts traded on Friday -- the most since March 21 -- compared to 825,912 put contracts. The resultant single-session put/call ratio rose to 0.52, while the 21-day moving average remained at 0.51.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index is little changed ahead of the bell, with the currency last seen near 80.37.
  • Elsewhere, crude oil is continuing to march higher, with the commodity flirting with a 0.2% lead to trade at $106.99 per barrel.
  • Gold futures, meanwhile, are on pace to pare a portion of last week's gain, with the malleable metal down 0.3% at $1,312.50 an ounce.
Currencies and commodities

Earnings and Economic Data

The week kicks off with the flash PMI and existing home sales. MU and Sonic (SONC) will release earnings.

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