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.
Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are more than 51 points above fair value.
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.
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).
The Case for Big Moves in IWM and QQQ
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