The Dow Jones Industrial Average (INDEXDJX:DJI) is positioned modestly higher this morning, in the wake of Tuesday's triple-digit drop. In today's session, traders will have the chance to digest the latest durable goods orders, as well as the final estimate for first-quarter gross domestic product (GDP). However, Wall Street will keep one eye trained overseas, as reports surface that Iraqi Prime Minister Nuri al-Maliki is rejecting calls for a more broad-based government. Against this backdrop, futures on the DJI were roughly 16 points above breakeven.
Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are more about 16 points above breakeven.
The Chicago Board Options Exchange (CBOE) saw 1,203,627 call contracts traded on Tuesday, compared to 625,342 put contracts. The resultant single-session put/call ratio dipped to 0.52, while the 21-day moving average remained at 0.51.
Currencies and Commodities
Earnings and Economic Data
On the docket for today are durable goods orders for May, the final gross domestic product GDP reading for the first quarter, and regularly scheduled crude inventories. Apollo Education Group (APOL), Barnes & Noble (BKS), General Mills (GIS), and Monsanto (MON) will report earnings.
The Case for Big Moves in IWM and QQQ
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