Real-Time Market Insights
Hot Stock News for Options Traders

Dow Jones Industrial Average Heads South; Argentina in Focus

Oil futures are trading south of the century mark

by 7/31/2014 8:18:04 AM
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:DJI) is poised to extend Wednesday's drop, with the blue-chip barometer bracing for a 77-point retreat out of the gate. A likely default by Argentina is weighing on sentiment, after last-minute talks with creditors disintegrated. On the home front, investors are exercising caution ahead of the next batch of corporate earnings reports, as well as data on weekly jobless claims.

Plus, our Trading Topic of the Week -- Trading Low-Priced Options: DON'T short-change yourself on time. Compared to a front-month contract, an option with six months of shelf life offers more time for the shares to move as you expect. This extra time provides you a little breathing room to allow the predicted price move to play out.

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 77 points below fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1.18 million call contracts traded on Wednesday, compared to 673,820 put contracts. The resultant single-session equity put/call ratio fell to 0.57, while the 21-day moving average remained at 0.59.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index is fractionally higher at 81.50.
  • Crude oil is struggling to stay atop the century mark, down 0.7% at $99.55 per barrel.
  • Gold is set to extend its losing streak to three sessions, down 0.1% at $1,295.50 an ounce.
Currencies and commodities

Earnings and Economic Data

Economic data scheduled for today includes weekly jobless claims, the second-quarter employment cost index, and the Chicago purchasing managers index (PMI). Exxon Mobil (XOM), SunPower (SPWR), TSLA, 3D Systems (DDD), Anheuser Busch (BUD), AstraZeneca (AZN), Avon Products (AVP), Beazer Homes (BZH), Colgate-Palmolive (CL), ConocoPhillips (COP), Delphi Automotive (DLPH), DIRECTV (DTV), Eldorado Gold (EGO), Expedia (EXPE), Goldcorp (GG), GPRO, Hecla Mining (HL), Kellogg (K), LinkedIn (LNKD), MasterCard (MA), Mosaic (MOS), Outerwall (OUTR), Sony (SNE), Standard Pacific (SPF), T-Mobile (TMUS), Time Warner Cable (TWC), and Walter Energy (WLT) will release quarterly numbers.

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