Escalating tensions between Russia and Ukraine, coupled with disappointing economic data out of Europe, are pressuring Dow Jones Industrial Average (INDEXDJX:DJI) futures lower in pre-market activity. In particular, fighting has broken out in Donetsk, Ukraine, between government forces and pro-Russian separatists, while the Kremlin reportedly may retaliate against U.S. and European sanctions. On the domestic front, trade balance data will be released later this morning, and a number of companies are reporting earnings, including Time Warner Inc (NYSE:TWX), which is down nearly 13% ahead of the bell after Twenty-First Century Fox Inc (NASDAQ:FOXA) withdrew its buyout bid.
Futures on the Dow Jones Industrial Average 2 Minute (INDEXDJX:.DJI) are more than 37 points below fair value.
The Chicago Board Options Exchange (CBOE) saw 792,536 call contracts traded on Tuesday, compared to 586,926 put contracts. The resultant single-session equity put/call ratio jumped to 0.74, while the 21-day moving average climbed to 0.63.
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