The Dow Jones Industrial Average (INDEXDJX:.DJI) is higher ahead of the bell, as the blue-chip barometer looks to build on last week's advance. In today's session, investors will be eyeing the flash purchasing managers index (PMI) for March, after similar readings released earlier in China and France arrived mixed. The data is due out at 9:45 a.m. ET. Among stocks to watch, Herbalife Ltd. (NYSE:HLF) is up in pre-market trading, after the company approved three of Carl Icahn's board nominees.
Additionally, "Looking ahead to this week, earnings will be light, but the housing sector will continue to be in the spotlight as more housing data will be released," said Schaeffer's Senior Options Strategist Tony Venosa, CMT.
Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are more than 31 points above breakeven.
The Chicago Board Options Exchange (CBOE) saw 1,623,688 call contracts traded on Friday -- the most since Jan. 24 -- compared to 1,004,979 put contracts. The resultant single-session put/call ratio moved higher to 0.62, while the 21-day moving average rose to 0.59.
From the Trading Floor
"After being up for most of the morning on Friday, markets experienced afternoon selling pressure," noted Venosa. "The iShares NASDAQ Biotechnology Index (ETF) (NASDAQ:IBB) was a huge drag, closing down nearly 5%. After the dust settled, though, the S&P 500 Index (SPX) finished the volatile week up, adding nearly 1.4%."
Currencies and Commodities
Earnings and Economic Data
This month's preliminary reading of the PMI index is scheduled for today. ReneSola (SOL) and Sonic (SONC) will report earnings.
The Case for Big Moves in IWM and QQQ
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