"Weather may have played a factor in the dull action witnessed on the Dow Jones Industrial Average (INDEXDJX:.DJI) yesterday," noted Schaeffer's Senior Options Strategist Tony Venosa, CMT. "Retail will take the spotlight this morning, as a number of companies are slated to release same-store-sales numbers. The retail sector has been a huge underperformer in 2014, and is down nearly 12% year-to-date." Additionally, employment data continues to trickle in ahead of tomorrow's payrolls number, with weekly jobless claims due out this morning. Ahead of these events, the DJI is pointed modestly higher.
On the corporate front, Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR) is up more than 42% in pre-market trading, after last night announcing a partnership with The Coca-Cola Company (NYSE:KO). KO, meanwhile, is 1.3% higher ahead of the bell.
Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are nearly 39 points above breakeven.
The Chicago Board Options Exchange (CBOE) saw 1,254,114 call contracts traded on Wednesday, compared to 772,771 put contracts. The resultant single-session put/call ratio rose to 0.62, while the 21-day moving average arrived at 0.58.
Currencies and Commodities
Earnings and Economic Data
Weekly jobless claims are scheduled for today, as well as data on international trade, and productivity and labor costs. Companies on Thursday's earnings docket include General Motors (GM), AOL, Inc. (AOL), LinkedIn (LNKD), Activision Blizzard (ATVI), Aetna (AET), AstraZeneca (AZN), athenahealth (ATHN), Cummins (CMI), Dunkin' Brands (DNKN), Expedia (EXPE), Kellogg (K), KKR & Co. (KKR), Lions Gate Entertainment (LGF), Monster Worldwide (MWW), New York Times (NYT), Noble Energy (NBL), ON Semiconductor (ONNN), OpenTable (OPEN), Outerwall (OUTR), Philip Morris (PM), Sony (SNE), Twenty-First Century Fox (FOXA), and VeriSign (VRSN).
The Case for Big Moves in IWM and QQQ
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