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Hot Stock News for Options Traders

Dow Jones Industrial Average Higher; Facebook Inc (FB) Soars on Earnings

China's HSBC PMI hit a six-month low -- and signaled contraction

by 1/30/2014 8:15:30 AM
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:.DJI) is on pace to pare a portion of yesterday's triple-digit drubbing, with futures pointed north ahead of the bell. Earnings will be a main focus today, with blue-chips 3M Co (NYSE:MMM) and Visa Inc (NYSE:V) both sitting in the green following the early morning release of their results. Meanwhile, the tech sector should get a solid boost from Facebook Inc (NASDAQ:FB), which was last seen nearly 18% higher in the wake of last night's quarterly report. On the economic front, investors will get an initial reading on fourth-quarter gross domestic product (GDP), as well as updates on jobless claims and pending home sales.

Elsewhere, "The lower end of the S&P 500 Index (SPX) range that I previously mentioned -- 1,770, to be specific -- held as support yesterday," said Schaeffer's Senior Trading Analyst Bryan Sapp. "Going forward, I think you could buy here and key against this level as a stop-out point."

Plus, our Trading Topic of the Week -- 5 Tips for Short-Term Trading: Select your option carefully. Consider your risk appetite and forecast for the stock when choosing a strike and expiration date, since there's no room for error when your trading time frame can be measured in hours.

And now, on to the numbers...

Dow Jones Industrial Average, S&P and Nasdaq futures

Futures on the Dow Jones Industrial Average 2 Minute (INDEXDJX:.DJI) are more than 76 points above breakeven.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1,202,254 call contracts traded on Wednesday, compared to 746,970 put contracts. The resultant single-session put/call ratio jumped to 0.62, while the 21-day moving average edged higher to 0.55.

NYSE and Nasdaq summary

Volatility indices

From the Trading Floor

"After the recent pullback, we've finally seen some drops in bullishness in the market sentiment polls that we follow," continued Sapp. "In particular, the Investors Intelligence poll is showing that enthusiasm toward markets is at a three-month low. I think this is a good sign for bulls, and indicates that much of the optimism has subsided for the time being."

Currencies and Commodities

  • The U.S dollar index has tacked on 0.5% ahead of the bell to trade at 80.89.
  • As cold temperatures sweep the nation, crude oil has added 0.4% in pre-market trading, with crude for March delivery hovering near $97.79 per barrel.
  • Gold futures, meanwhile, are looking to give back a portion of Wednesday's gains, with the front-month contract down 0.6% at $1,255 an ounce.
Currencies and commodities

Earnings and Economic Data

The Labor Department's advance reading on fourth-quarter GDP, weekly jobless claims, and the pending home sales index are on today's docket. Stepping up to the earnings plate are MMM, Exxon Mobil (XOM), V, AMZN, Google (GOOG), Beazer Homes (BZH), Broadcom (BRCM), Celgene (CELG), Chipotle Mexican Grill (CMG), Chubb (CB), Colgate-Palmolive (CL), ConocoPhillips (COP), Eli Lilly (LLY), Harley-Davidson (HOG), Hershey (HSY), HHGregg (HGG), JDS Uniphase (JDSU), Peabody Energy (BTU), Potash (POT), PulteGroup (PHM), Raytheon (RTN), Riverbed Technology (RVBD), Ryland (RYL), Sherwin-Williams (SHW), Time Warner Cable (TWC), Under Armour (UA), and UPS (UPS).

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