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Dow Jones Industrial Average Set to Kick Off Busy Week In the Red

The DJI is modestly lower ahead of the bell; Hong Kong stocks touch a three-year peak

by 7/28/2014 8:18:00 AM
Stocks quoted in this article:

The Dow Jones Industrial Average (INDEXDJX:DJI) is pointed lower ahead of the bell, as buyers sit on the sidelines amid lingering geopolitical concerns and ahead of a busy data week. While a humanitarian ceasefire has temporarily cooled fighting in Gaza, tensions between the West and Russia are heating up, after the European Union agreed to impose more economic sanctions on the country. Meanwhile, data on home sales and manufacturing will hit the Street this morning, though investors are already speculating ahead of the Federal Open Market Committee's (FOMC) policy statement and the latest payrolls report, slated for Wednesday and Friday, respectively.

Plus, our Trading Topic of the Week -- Trading Low-Priced Options: DO target smaller stocks with the potential for big gains. It's easy to get caught up in the excitement surrounding big-name, high-dollar stocks like Apple Inc. (NASDAQ:AAPL). Remember, though -- a small-cap stock trading at $10 per share needs to rise only 10 points to double in value.

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 nearly 21 points below fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1.17 million call contracts traded on Friday, compared to 717,631 put contracts. The resultant single-session equity put/call ratio jumped to 0.62, while the 21-day moving average stayed at 0.58.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index is fractionally lower at 81.02.
  • Crude oil is poised to give back Friday's gains, with black gold down 0.4% at $101.64 per barrel.
  • Gold, meanwhile, is headed higher, up 0.1% at $1,307 an ounce.
Currencies and commodities

Earnings and Economic Data

Kicking off the week are pending home sales data and the Dallas Fed's manufacturing survey. Cummins (CMI), Herbalife (HLF), (SOHU), and Tyson Foods (TSN) will report quarterly earnings.

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