The Dow Jones Industrial Average (INDEXDJX:.DJI) is poised to extend its climb ahead of the bell, thanks in part to a well-received earnings report from Hewlett-Packard Company (NYSE:HPQ). Going forward, traders will digest another batch of housing stats, slated for release at 10 a.m. ET, as well as afternoon speeches from Dallas Fed President Richard Fisher and St. Louis Fed President James Bullard.
"Thursday's price action retraced a good portion of Wednesday's downswing, as the Dow climbed 92 points," noted Schaeffer's Senior Options Strategist Tony Venosa, CMT. "Gold stocks made a stellar move higher, outpacing all other industries. The SPDR S&P 500 ETF (SPY) closed just above the 184 strike, home to peak call open interest that expires today. Price action has oscillated around this level all week. Stay tuned."
Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are about 30 points above breakeven.
The Chicago Board Options Exchange (CBOE) saw 1,300,181 call contracts traded on Thursday, compared to 751,977 put contracts. The resultant single-session put/call ratio jumped to 0.58, while the 21-day moving average fell to 0.60.
Currencies and Commodities
Earnings and Economic Data
Data on existing home sales will hit the Street today. The week concludes with Charter Communications (CHTR), DISH Network (DISH), and Eldorado Gold (EGO) stepping up to the earnings plate.
Recent XIV Action May Bode Well for Bulls
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