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Hot Stock News for Options Traders

Dow Jones Industrial Average Futures Retreat from Record High

Crude oil is poised for a third consecutive day of gains

by 6/10/2014 8:14:26 AM
Stocks quoted in this article:

After three straight days of closing at a record peak, the Dow Jones Industrial Average (INDEXDJX:DJI) is positioned modestly lower this morning. As Schaeffer's Senior Options Strategist Tony Venosa, CMT, notes, "This week is relatively bare from an earnings standpoint. On the economic side, we do have jobless claims and retail sales on Thursday." In today's session, meanwhile, traders will have the chance to digest a pair of upbeat data points from overseas; specifically, China's retail inflation grew at a faster-than-forecast rate, while producer prices fell by a wider-than-expected margin. Stateside, updates on job openings and small-business optimism are due.

Plus, our Trading Topic of the Week -- Tips for Short-Term Trading: Check the charts for key support and resistance levels. Your time frame may be brief, but don't neglect those long-term charts -- or you could overlook a key stumbling block for the underlying stock.

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 more than 25 points below breakeven.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1,128,969 call contracts traded on Monday, compared to 536,838 put contracts. The resultant single-session put/call ratio edged up to 0.48, while the 21-day moving average remained at 0.59.

NYSE and Nasdaq summary

Volatility indices

From the Trading Floor

"Small-cap stocks continued their recent outperformance yesterday, with the iShares Russell 2000 ETF (IWM) closing up 0.9%, versus a slimmer 0.1% for the S&P 500 Index (SPX)," said Venosa. "Big gains from regional banking shares contributed to the small-cap performance. Interestingly enough, the CBOE Volatility Index (VIX) rose nearly 4% after closing below 11 on Friday."

Currencies and Commodities

  • The U.S. dollar index is flirting with a 0.2% lead this morning, with the greenback last seen near 80.80.
  • Crude oil, meanwhile, is eyeing a third consecutive day of gains, with the commodity 0.3% higher at $104.77 per barrel.
  • Elsewhere, gold futures are lingering just below the flat line at $1,253.70 an ounce.
Currencies and commodities

Earnings and Economic Data

The Labor Department's Job Openings and Labor Turnover Survey (JOLTS) and the National Federation of Independent Business (NFIB) small-business optimism index are due out today. RadioShack (RSH), The Pep Boys (PBY), Burlington Stores (BURL), Christopher & Banks (CBK), Francesca's (FRAN), Ulta Salon (ULTA), and United Natural Foods (UNFI) will step up to the earnings plate as well.

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