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.
Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are 77 points below fair value.
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.
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.
The Case for Big Moves in IWM and QQQ
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