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Dow Jones Industrial Average Looks to Start the Week in the Green

Property stocks pressured Chinese bourses lower

by 2/24/2014 8:08:55 AM
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The Dow Jones Industrial Average (INDEXDJX:.DJI) is poised to follow its European counterparts into the green, with futures sitting modestly higher ahead of the bell. As Schaeffer's Senior Options Strategist Tony Venosa, CMT, notes, though, "Little economic data and a lack of earnings reports this morning could set the stage for another quiet session. However, watch the homebuilders this week, as these names continue to move higher despite worse-than-expected housing data of late."

Meanwhile, "Friday options expiration turned out to be a non-eventful day, as the major indexes grinded sideways -- which pretty much sums up the price action of last week," continued Venosa. "The SPDR S&P 500 ETF (SPY) closed slightly below peak February call open interest at the 184 strike, which remains just off the security's 52-week high."

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 nearly 42 points above breakeven.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1,619,551 call contracts traded on Friday, compared to 894,944 put contracts. The resultant single-session put/call ratio fell to 0.55, while the 21-day moving average remained at 0.60.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index is flirting with a 0.05% lead ahead of the bell, with the currency lingering near 80.28.
  • Crude oil, meanwhile, is on pace to extend last week's advance, with the front-month contract up 0.1% at $102.27 per barrel.
  • Gold futures are also in the green, with gold for April delivery last seen 0.7% higher to trade at $1,333 an ounce.
Currencies and commodities

Earnings and Economic Data

The Dallas Fed's manufacturing survey will kick off the week's lineup of economic reports. Live Nation Entertainment (LYV), SINA Corp (SINA), SolarCity (SCTY), Texas Roadhouse (TXRH), and Vivus (VVUS) will report earnings.

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