Real-Time Market Insights
Hot Stock News for Options Traders

Dow Jones Industrial Average Looks to Start the Week In the Red

Gold eyes a fourth straight day of gains, while crude retreats

by 2/10/2014 8:15:15 AM
Stocks quoted in this article:

"The Dow Jones Industrial Average (INDEXDJX:.DJI) shrugged off a disappointing payrolls number on Friday, and rallied over 1%," said Schaeffer's Senior Options Strategist Tony Venosa, CMT. "Elsewhere, the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) finished 3.4% higher from its weekly low set on Wednesday. Shares have retraced over 50% of the January peak to the February low." Futures on both are pointed lower ahead of the bell.

With today's economic calendar bare, focus should be trained on Federal Reserve Chair Janet Yellen, who heads to the Hill tomorrow to testify in front of the House Financial Services Committee. Traders will look to her first appearance before Congress for clues as to whether the Fed will continue its recent tapering of asset purchases, given last week's lackluster economic data. Additionally, Venosa notes that, "Although earnings season is winding down, this week we'll hear quarterly results from Deere & Company (NYSE:DE), Cisco Systems, Inc. (NASDAQ:CSCO), and Applied Materials, Inc. (NASDAQ:AMAT)."

Plus, our Trading Topic of the Week -- Learning to Trade Like the Pros: Trade on data, not emotions. How do you avoid getting chewed up by the panic/euphoria machine? By suppressing your fight-or-flight reflex and trading on facts and figures instead.

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 about 25 points below breakeven.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1,385,288 call contracts traded on Friday, compared to 939,405 put contracts. The resultant single-session put/call ratio rose to 0.68, while the 21-day moving average ticked higher to 0.59.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index is flirting with a 0.05% drop ahead of the bell, with the currency last seen near 80.65.
  • Elsewhere, crude oil has pulled back from the century mark, with crude for March delivery down 0.4% at $99.47 per barrel.
  • Gold futures, meanwhile, are eyeing a fourth consecutive win, with April-dated gold up 0.9% to $1,273.80 an ounce.
Currencies and commodities

Earnings and Economic Data

There are no notable economic reports scheduled for Monday. This week's round of earnings reports will start with Hasbro (HAS), Loews Corporation (L), Rackspace Hosting (RAX), and Sohu.com (SOHU).

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