The Dow Jones Industrial Average (INDEXDJX:DJI) is set to extend yesterday's slide -- the biggest since February -- as traders exercise caution ahead of the highly anticipated nonfarm payrolls report. Economists are calling for the jobless rate to remain at 6.1%, and for a 230,000 increase in jobs. On the earnings front, meanwhile, Dow component The Procter & Gamble Company (NYSE:PG) is headed higher after a well-received earnings report.
Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are 62 points below fair value.
The Chicago Board Options Exchange (CBOE) saw 1.44 million call contracts traded on Thursday, compared to 916,681 put contracts. The resultant single-session equity put/call ratio soared to 0.64, while the 21-day moving average edged higher to 0.60.
Currencies and Commodities
Earnings and Economic Data
Today is chock-full of numbers, including July motor vehicle sales, the Labor Department's nonfarm payrolls report, personal income and expenses, the purchasing managers manufacturing index (PMI), the Thomson Reuters/University of Michigan final consumer sentiment survey for July, the Institute for Supply Management's (ISM) manufacturing index, and construction spending figures. Chevron (CVX), PG, and Clorox (CLX) will close out the week's lineup of earnings reports.
The Case for Big Moves in IWM and QQQ
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