The Dow Jones Industrial Average (INDEXDJX:DJI) is poised to bounce back from Thursday's triple-digit drubbing -- and reclaim its perch atop the 17,000 mark -- with futures pointed 38 points higher ahead of the bell. While traders digest geopolitical developments in Ukraine and Gaza, they will also be mulling over a number of domestic data points. On the earnings front, upbeat results from blue chip General Electric Company (NYSE:GE) and tech titan Google Inc (NASDAQ:GOOGL) will be in focus. Meanwhile, on the economic side, the latest consumer sentiment report is slated for release at 9:55 a.m. ET.
Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are more than 38 points above fair value.
The Chicago Board Options Exchange (CBOE) saw 1.39 million call contracts traded on Thursday, compared to 1.08 million put contracts -- the most since Jan. 24. The resultant single-session put/call ratio surged to 0.78, while the 21-day moving average rose to 0.56.
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Earnings and Economic Data
The preliminary reading of the Thomson Reuters/University of Michigan consumer sentiment index for July will come out today. Meanwhile, GE, Honeywell (HON), Huntington Bancshares (HBAN), and VF Corp (VFC) will close out the week's lineup of earnings reports.
The Case for Big Moves in IWM and QQQ
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