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Dow Jones Industrial Average Retreats; Small-Caps in Focus

European markets are lower ahead of Ukraine's secession vote

by 5/9/2014 8:11:10 AM
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:DJI) is pointed lower this morning, putting the blue-chip index's chance for a weekly win in jeopardy. On the economic front, the Labor Department's JOLTS report and the latest wholesale inventories data are due at 10 a.m. ET. Additionally, Dallas Federal Reserve President Richard Fisher will give a speech on monetary policy at 12 p.m. ET. Meanwhile, among equities in focus, Apple Inc. (NASDAQ:AAPL) should garner its fair share of attention, after reports surfaced that the tech titan may be in talks to purchase Beats Electronics for $3.2 billion. This would be AAPL's largest acquisition on record.

On the charts, Schaeffer's Senior Trading Analyst Bryan Sapp says, "The Russell 2000 Index (RUT) continues to be the index to watch, and it has been whipsawing wildly over the past few days -- much to the chagrin of traders. It appeared the RUT was poised to retake its 200-day moving average yesterday morning, but the afternoon sell-off took it back below this trendline. What's more, the index fell south of the 1,100 level for a second straight day. Going forward, a clear break of either of these key areas will likely signal the next move for the broad market."

Plus, our Trading Topic of the Week -- 5 Ways to Win with Aggressive Trades: Remember the F.A.R. principle. To boost your odds of scoring a big winner, look for stocks poised to make a Fast, Aggressive move in the Right direction.

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 about 27 points below breakeven.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1,095,234 call contracts traded on Thursday, compared to 718,012 put contracts. The resultant single-session put/call ratio dropped to 0.66, while the 21-day moving average remained at 0.62.

NYSE and Nasdaq summary

Volatility indices

From the Trading Floor

"According to Thursday's National Association of Active Investment Managers (NAAIM) survey, money managers aren't believers of the recent rally in the S&P 500 Index (SPX), as they reduced their market exposure over the course of the past week," noted Sapp.

Currencies and Commodities

  • The U.S. dollar index is up 0.4% in pre-market trading, with the currency hovering around 79.66.
  • Amid signs of depleting supplies, crude oil has tacked on 0.3% ahead of the bell to trade at $100.52 per barrel.
  • Gold, meanwhile, is poised to rebound from its recent retreat, with futures up 0.3% at $1,292.10 an ounce.
Currencies and commodities

Earnings and Economic Data

Wholesale inventories data and the Labor Department's Job Openings and Labor Turnover Survey (JOLTS) will hit the Street today. Alcatel Lucent (ALU), Chiquita Brands (CQB), Hilton Hotels (HLT), and Ralph Lauren (RL) will close out the week's earnings lineup.

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