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Dow Jones Industrial Average Lower; All Eyes on Alcoa Inc (AA)

Crude oil is poised for an eighth straight day of losses

by 7/8/2014 8:06:50 AM
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The Dow Jones Industrial Average (INDEXDJX:DJI) is pointed modestly lower this morning, as investors express caution ahead of tonight's unofficial start to second-quarter earnings season. Specifically, aluminum giant Alcoa Inc (NYSE:AA) will unveil its quarterly report after the close, with analysts calling for a profit of 12 cents per share. Ahead of this highly anticipated event, traders will have the chance to digest the latest Job Openings and Labor Turnover Survey (JOLTS), as well as speeches from a pair of Federal Reserve officials.

Plus, our Trading Topic of the Week -- Ways to Interpret Short Interest: Weigh the short interest ratio. This handy little indicator tells you approximately how much future buying power is pent up among the short-selling crowd.

And now, on to the numbers...

Dow Jones Industrial Average, S&P and Nasdaq futures

Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are roughly 16 points below fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1.07 million call contracts traded on Monday, compared to 653,092 put contracts. The resultant single-session put/call ratio jumped to 0.61, while the 21-day moving average stayed at 0.51.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index is up 0.06% ahead of the bell to trade at 80.27.
  • Elsewhere, crude oil is poised for an eighth consecutive day of losses, with the commodity last seen 0.2% lower at $103.36 per barrel.
  • Gold futures, meanwhile, are on pace to erase Monday's modest decline, with the malleable metal 0.5% higher at $1,323.40 an ounce.
Currencies and commodities

Earnings and Economic Data

Today's docket features the NFIB small-business optimism index, the Labor Department's JOLTS report, and the Fed's monthly update on consumer credit. Elsewhere, second-quarter earnings season unofficially kicks off with a report from AA. Also posting results are AeroVironment (AVAV) and Bob Evans (BOBE).

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