The Dow Jones Industrial Average (INDEXDJX:DJI) is pointed south ahead of the open, pressured by negative earnings news and troubling developments from abroad. Ukrainian Prime Minister Arseniy Yatsenyuk offered up his resignation on Thursday amid growing turmoil in the region, while the civilian death toll jumped in Gaza after Israeli shells hit a United Nations (U.N.)-run school -- the fourth U.N. facility to be hit during the weeks-long conflict. Meanwhile, a wider-than-forecast quarterly loss from Amazon.com, Inc. (NASDAQ:AMZN) has the stock down more than 10% ahead of the bell, and has given rise to headlines like, "Will Amazon ever be profitable?" (The Telegraph), and "Is Amazon spending like a drunken sailor?" (MarketWatch). Against this backdrop, the major market indexes are poised to open in the red.
Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are nearly 29 points below fair value.
The Chicago Board Options Exchange (CBOE) saw 1.27 million call contracts traded on Thursday, compared to 730,137 put contracts. The resultant single-session equity put/call ratio pulled back to 0.58, while the 21-day moving average stayed at 0.58.
Currencies and Commodities
Earnings and Economic Data
The week will close out with an update on durable goods orders. Covidien (COV), LyondellBasell (LYB), Tyco (TYC), Stanley Black & Decker (SWK), and Xerox (XRX) will announce earnings.
The Case for Big Moves in IWM and QQQ
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