The Dow Jones Industrial Average (INDEXDJX:DJI) is set to open flat this morning, with traders standing pat ahead of the Federal Open Market Committee (FOMC) meeting minutes due out this afternoon. Meanwhile, the latest earnings updates are also contributing to the cautious tone. Home goods retailer Lowe's Companies, Inc. (NYSE:LOW) has disappointed the bulls, down 2.3% in pre-market trading after reducing its full-year sales guidance. Likewise, Hertz Global Holdings, Inc. (NYSE:HTZ) is set to drop more than 13% after withdrawing its fiscal 2014 forecast.
Futures on the Dow Jones Industrial Average 2 Minute (INDEXDJX:.DJI) are 1.4 points above fair value.
The Chicago Board Options Exchange (CBOE) saw 969,422 call contracts traded on Tuesday, compared to 561,842 put contracts. The resultant single-session equity put/call ratio rose to 0.58, while the 21-day moving average stayed at 0.65.
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