Real-Time Market Insights
Hot Stock News for Options Traders

Dow Jones Industrial Average Set for a Weekly Win; Banks in Focus

Real estate stocks helped China's Shanghai Composite advance nearly 3%

by 3/21/2014 8:17:03 AM
Stocks quoted in this article:

"Markets on Thursday shrugged off the Fed's hints at a possible rate hike, and the Dow Jones Industrial Average (INDEXDJX:.DJI) closed up 109 points," said Schaeffer's Senior Options Strategist Tony Venosa, CMT. "In spite of this, the DJI has yet to reach its year-to-date breakeven mark and remains the laggard among the other major indices. Today is options expiration, so there is the possibility of some volatility as positions are unwound." Ahead of this, futures on the DJI are higher, as the 30-stock index looks to extend its weekly gains.

Meanwhile, amid a bare economic calendar, financial firms could be in focus after the Federal Reserve released its latest stress test results last night. The outcome of the annual test showed that 29 out of 30 of the largest U.S. banks could withstand an unexpected economic disaster.

Plus, our Trading Topic of the Week -- How to Get Started with Options: Understand that options expire. Buy-and-holders must remember: With options, the stock needs to move in your favor -- and the sooner, the better.

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 nearly 49 points above breakeven.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1,313,327 call contracts traded on Thursday, compared to 718,867 put contracts. The resultant single-session put/call ratio rose to 0.55, while the 21-day moving average dropped to 0.58.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index is flirting with a 0.1% drop ahead of the bell, with the currency lingering near 80.14.
  • Elsewhere, crude oil is on pace to erase yesterday's modest loss, with May-dated crude up 0.5% at $99.35 per barrel.
  • Gold futures are higher, as well, with the front-month contract 0.8% higher to trade at $1,341.10 an ounce.
Currencies and commodities

Earnings and Economic Data

Today's economic calendar is empty; however, the earnings docket includes Darden Restaurants (DRI) and Tiffany & Co (TIF).

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