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Dow Jones Industrial Average Set to Bounce Back as Tensions Ease

The DJI is set to gain ground on upbeat earnings and positive news from abroad

by 7/22/2014 8:18:39 AM
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:DJI) is set to open comfortably higher today, as traders breathe a sigh of relief over promising developments abroad. In Ukraine, pro-Russian rebels cooperated with investigators by handing over two black boxes from downed Malaysia Airlines Flight 17. Meanwhile, U.S. Secretary of State John Kerry is in Cairo, where he's meeting today with Egypt's President Abdel Fattah Al Sisi to discuss steps toward a possible cease-fire in Gaza. Here at home, traders are still focused on corporate earnings, with names like Comcast Corporation (NASDAQ:CMCSA), Chipotle Mexican Grill, Inc. (NYSE:CMG), and United Technologies Corporation (NYSE:UTX) all gaining ground in pre-market action.

  • Activist investor William Ackman warned of "incredible fraud" at Herbalife Ltd. (NYSE:HLF) -- and vowed to reveal the details today.
  • The call buyers who targeted Twitter Inc (NYSE:TWTR) on Monday could have ulterior motives.
  • Keep your eye on these 3 hot tech stocks with earnings due out today.
Plus, our Trading Topic of the Week -- Tips for Buying Weekly Options: Wait for the right setup. Weekly options offer plenty of advantages, but they aren't necessarily all-purpose trading vehicles.

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 more than 51 points above fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 989,087 call contracts traded on Monday, compared to 612,984 put contracts. The resultant single-session put/call ratio jumped to 0.62, while the 21-day moving average edged up to 0.57.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index is slightly higher this morning, up 0.2% at 80.73.
  • Crude oil is also on the rise, gaining 0.3% to $103.14 per barrel.
  • Gold, however, is down 0.4% at $1,310.20 per ounce.
Currencies and commodities

Earnings and Economic Data

Today's economic calendar includes the consumer price index (CPI) and core CPI, plus existing home sales. Companies slated to step into the earnings confessional include Coca-Cola (KO), DuPont (DD), McDonald's (MCD), Microsoft (MSFT), Travelers (TRV), Verizon (VZ), Apple (AAPL), ARM Holdings (ARMH), Broadcom (BRCM), Crocs (CROX), Discover Financial Services (DFS), Domino's Pizza (DPZ), Electronic Arts (EA), Gannett (GCI), Harley-Davidson (HOG), Intuitive Surgical (ISRG), Juniper Networks (JNPR), Kimberly-Clark (KMB), Lexmark International (LXK), Lockheed Martin (LMT), Mead Johnson Nutrition (MJN), Peabody Energy (BTU), TD Ameritrade (AMTD), and Xilinx (XLNX).

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