The Dow Jones Industrial Average (INDEXDJX:DJI) is sitting slightly below breakeven this morning, after the 30-stock index rallied yesterday in the wake of dovish comments made by Federal Reserve Chair Janet Yellen. Elsewhere, following a day that saw the S&P 500 Index (SPX) notch its 20th record close of the year, futures on the broad-market barometer are trading modestly above the flat line.
In today's session, a handful of economic reports -- including weekly jobless claims, the Philadelphia Fed's manufacturing survey, and the Conference Board's leading indicators index -- should garner some attention. Additionally, traders will continue to keep a cautious eye trained on Iraq, after reports from The Wall Street Journal suggested the White House is calling for new leadership in the volatile nation.
Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are about 6 points below breakeven.
The Chicago Board Options Exchange (CBOE) saw 1,349,175 call contracts traded on Wednesday -- the most since April 17 -- compared to 516,593 put contracts. The resultant single-session put/call ratio plunged to 0.38, while the 21-day moving average dipped to 0.53.
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Earnings and Economic Data
Weekly jobless claims, the Philadelphia Fed's manufacturing survey, and the Conference Board's leading indicators index for May will hit the Street today. Elsewhere, BlackBerry (BBRY), Kroger (KR), Oracle (ORCL), Rite Aid (RAD), Smith & Wesson (SWHC), and Tibco Software (TIBX) will release earnings reports.
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