The Dow Jones Industrial Average (INDEXDJX:DJI) is set to open modestly lower this morning, as traders anticipate a couple of key data points due out later today. The Chicago purchasing managers index (PMI) and the National Association of Realtors' pending home sales index are both on the docket, kicking off a busy week of economic reports that includes June's nonfarm payrolls announcement on Thursday. Despite the shaky pre-market action, the major equity indexes are on pace to end the month of June -- and the second quarter -- on positive footing. Ahead of the open, the Dow is up 0.8% for the month, while the S&P 500 Index (SPX) has gained 1.9%, and the Nasdaq Composite (COMP) is leading the pack with its 3.7% advance.
Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are nearly 36 points below fair value.
The Chicago Board Options Exchange (CBOE) saw 1.03 million call contracts traded on Friday, compared to 538,787 put contracts. The resultant single-session put/call ratio dipped to 0.52, while the 21-day moving average edged down to 0.50.
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Earnings and Economic Data
The Chicago PMI and the Dallas Fed's manufacturing survey are scheduled for today, along with pending home sales data. There are no significant earnings reports slated for release.
The Case for Big Moves in IWM and QQQ
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