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Hot Stock News for Options Traders

Dow Jones Industrial Average Higher Ahead of Housing, Manufacturing Reports

Japan's Nikkei skyrocketed 3.1%, thanks to the Bank of Japan

by 2/18/2014 8:12:07 AM
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:.DJI) is pointed higher in pre-market trading, as investors digest the latest earnings and M&A news. On the earnings front, The Coca-Cola Company (NYSE:KO) is fresh out of the confessional, while news of an Actavis PLC (NYSE:ACT) buyout of Forest Laboratories, Inc. (NYSE:FRX) is dominating headlines. Later today, Wall Street will weigh reports on manufacturing and housing.

"The S&P 500 Index (SPX) had another strong day on Friday, and looks poised to test the recent all-time highs around 1,850," said Schaeffer's Senior Trading Analyst Bryan Sapp. "Below, meanwhile, its 50-day moving average -- currently around 1,810 -- should provide some support going forward."

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 about 29 points above breakeven.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1,254,467 call contracts traded on Friday, compared to 720,650 put contracts. The resultant single-session put/call ratio remained at 0.57, while the 21-day moving average stayed at 0.60.

NYSE and Nasdaq summary

Volatility indices

From the Trading Floor

"The sentiment polls that we follow are finally starting to show some signs of life from the bulls," Sapp added. "On Thursday, the new NAAIM survey was released, and the recent swoon in manager exposure reversed back to levels seen two weeks ago. However, this is still a depressed level when compared to readings seen late last year and in early January. This leads me to believe that there's certainly some cash still on the sidelines that could re-enter the market and drive stocks higher."

Currencies and Commodities

  • The U.S. dollar index is fractionally higher ahead of the bell, with the currency last seen at 80.17.
  • Elsewhere, crude oil is clinging to the century mark, with the front-month contract up 0.7% at $100.87 per barrel.
  • Gold futures, meanwhile, are poised to snap their eight-session winning streak, with the front-month contract 0.3% lower at $1,315.10 an ounce.
Currencies and commodities

Earnings and Economic Data

The Empire State manufacturing survey, Treasury International Capital (TIC) data for December, and the NAHB housing market index are slated for release. Stepping into the earnings confessional are KO, CF Industries (CF), Diana Shipping (DSX), Duke Energy (DUK), Herbalife (HLF), La-Z-Boy (LZB), MannKind (MNKD), Medtronic (MDT), Panera Bread (PNRA), Potbelly (PBPB), Waste Management (WM), and Yamana Gold (AUY).

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