The Dow Jones Industrial Average (INDEXDJX:DJI) is poised to continue with last week's upward momentum, with futures pointed slightly higher ahead of the bell. "After a rough start last week, markets got their act together and moved northward -- closing near the highs for the week on Thursday," said Schaeffer's Senior Options Strategist Tony Venosa, CMT. "Unfortunately, the S&P 500 Index (SPX) fell a little short of the prior week's peak. The star sector was energy, with the Energy Select Sector SPDR (ETF) (XLE) advancing nearly 5%."
Looking ahead, "This week will continue to be volatile and filled with catalysts as earnings season rolls on in earnest," noted Venosa. "Additionally, keep an eye on homebuilders, as existing and new home sales will be released on Tuesday and Wednesday, respectively." Meanwhile, geopolitical conflict overseas will remain on traders' radar, after a deadly attack erupted in eastern Ukraine on Sunday.
Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are more than 34 points above breakeven.
The Chicago Board Options Exchange (CBOE) saw 1,461,005 call contracts traded on Thursday, compared to 838,080 put contracts. The resultant single-session put/call ratio rose to 0.57, while the 21-day moving average stayed at 0.59.
Currencies and Commodities
Earnings and Economic Data
The Conference Board's index of leading economic indicators will hit the Street today. Netflix (NFLX), Halliburton (HAL), Hasbro (HAS), Kimberly-Clark (KMB), and SunTrust Banks (STI) will report earnings.
The Case for Big Moves in IWM and QQQ
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