The Dow Jones Industrial Average (INDEXDJX:DJI) is poised to extend Friday's pop, as Wall Street continues to cheer easing geopolitical concerns. While President Obama cautioned that there is no "quick fix" to the crisis in Iraq, Egypt on Sunday brokered another 72-hour ceasefire in Gaza, and tensions continue to ebb along the Russia-Ukraine border. Meanwhile, Fed Vice Chair Stanley Fischer this morning said the global economic recovery has been disappointing, bolstering hopes that the central bank will maintain the status quo on monetary policy for longer than expected.
Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are about 44 points above fair value.
The Chicago Board Options Exchange (CBOE) saw 908,680 call contracts traded on Friday, compared to 594,034 put contracts. The resultant single-session equity put/call ratio remained at 0.65, while the 21-day moving average edged higher to 0.65.
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