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Dow Jones Industrial Average Eyes a Slow Start Ahead of Fed, Consumer Confidence

RBS is nearing a settlement in the recent Libor scandal

by 1/29/2013 8:23:48 AM
Stocks quoted in this article:

The Dow Jones Industrial Average (DJI) is pointed modestly lower ahead of the bell, as traders tread cautiously ahead of a glut of earnings and economic data due out this week. In today's session, Schaeffer's Senior Options Strategist Tony Venosa, CMT, informs us that, "Ford Motor (NYSE:F), AK Steel Holding (NYSE:AKS), and United States Steel (NYSE:X) are among the many names reporting earnings. Additionally, the Federal Open Market Committee (FOMC) kicks off its two-day meeting, with a release of the policy statement slated for 2:15 p.m. ET on Wednesday." Meanwhile, investors will also have the chance to digest the latest consumer confidence index this morning, which is scheduled for release at 10:00 a.m. ET.

And now, on to the numbers...

Dow Jones Industrial Average, S&P and Nasdaq futures

Futures on the Dow Jones Industrial Average are roughly 14 points south of breakeven.

Market Statistics

Equity option activity on the Chicago Board Options Exchange (CBOE) saw 852,221 call contracts traded on Monday, compared to 644,295 put contracts. The resultant single-session put/call ratio jumped to 0.76, while the 21-day moving average stayed at 0.64.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index is trading just above breakeven ahead of the bell, with the currency last seen near $79.79.
  • Crude oil is looking to add to Monday's modest gains, with the front-month contract 0.07% higher at $96.51 per barrel.
  • Gold futures are higher, as well, with the malleable metal up 0.6% to hover near $1,664.10 an ounce.
Currencies and commodities

Earnings and Economic Data

Today's economic calendar features the latest consumer confidence index, as well as the S&P/Case-Shiller home price index. On the earnings front, we'll hear from AMZN, EMC, F, AKS, Boston Scientific (BSX), BRCM, DR Horton (DHI), Eli Lilly (LLY), Harley-Davidson (HOG), Hutchinson Technology (HTCH), International Paper (IP), JetBlue Airways (JBLU), Pfizer (PFE), Ryland Group (RYL), Tyco (TYC), X, Valero Energy (VLO), and Vertex Pharmaceuticals (VRTX).

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