The Dow Jones Industrial Average (INDEXDJX:DJI) is pointed higher this morning, thanks to upbeat earnings reports from blue chips Goldman Sachs Group Inc (NYSE:GS), Johnson & Johnson (NYSE:JNJ), and JPMorgan Chase & Co. (NYSE:JPM). On the economic front, a number of reports will be released today, including the latest retail sales figures and import and export prices. However, the main focus will likely be on Federal Reserve Chair Janet Yellen, who kicks-off her two-day testimony in front of Congress shortly after the open. Against this backdrop, futures on the DJI were up more than 27 points.
Futures on the Dow Jones Industrial Average 2 Minute (INDEXDJX:.DJI) are more than 27 points above fair value.
The Chicago Board Options Exchange (CBOE) saw 1.03 million call contracts traded on Monday, compared to 596,017 put contracts. The resultant single-session put/call ratio rose to 0.58, while the 21-day moving average stayed at 0.53.
Currencies and Commodities
Earnings and Economic Data
Slated for release today are retail sales, July's Empire State manufacturing survey, import and export prices, and business inventories. GS, Intel (INTC), JNJ, JPM, Yahoo! (YHOO), ADTRAN (ADTN), Cintas (CTAS), and Wolverine World Wide (WWW) will post quarterly results.
The Case for Big Moves in IWM and QQQ
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