Tech Earnings Weigh on Dow Jones Industrial Average, Nasdaq Futures

What to Make of the S&P's Unprecedented Technical Signal

Jul 22, 2015 at 8:41 AM

The Dow Jones Industrial Average (DJIA) is bracing for more earnings-induced losses this morning, with Microsoft Corporation (NASDAQ:MSFT) headed lower after incurring a $3.2 billion net loss for its fiscal fourth quarter. In fact, the tech sector as a whole is taking its lumps, with Apple Inc. (NASDAQ:AAPL) slumping on the heels of its sales forecast, and Yahoo! Inc. (NASDAQ:YHOO) lower on an earnings miss -- all of which is weighing heavily on Nasdaq-100 Index (NDX) futures. Later this morning, traders will get to digest the latest existing home sales data and weekly crude inventories, with another major round of earnings due after the close.

Continue reading for more on today's market, including:

Schaeffer's Senior Quantitative Analyst Rocky White explores this historic first for the S&P 500 Index (SPX).
How did these mining stocks fare amid gold's newest low? Find out here.
BlackBerry Ltd (NASDAQ:BBRY) shareholders cheered -- and employees jeered -- this cost-cutting news.

And now, on to the numbers…

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Futures on the Dow Jones Industrial Average (DJIA) are roughly 39 points below fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 802,074 call contracts traded on Tuesday, compared to 552,672 put contracts. The resultant single-session equity put/call ratio spiked to 0.69, while the 21-day moving average held at 0.69.

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Currencies and Commodities

The U.S. dollar index is fractionally higher at 97.34.
Crude oil has retreated another 1.1% to $50.30 per barrel.
Gold is down 1.1% to trade at $1,091.90 per ounce, extending its slump to new five-year lows.

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Earnings and Economic Data

Today's economic calendar will feature existing home sales stats, as well as the regularly scheduled crude inventories report. American Express (AXP), Boeing (BA), Coca-Cola (KO), EMC Corp (EMC), QUALCOMM (QCOM), Angie's List (ANGI), Cirrus Logic (CRUS), SanDisk (SNDK), Texas Instruments (TXN), ARM Holdings (ARMH), AutoNation (AN), Checkpoint Software (CHKP), Cheesecake Factory (CAKE), F5 Networks (FFIV), Fortinet (FTNT), Lithia Motors (LAD), Newmont Mining (NEM), Six Flags (SIX), Thermo Fisher (TMO), Tractor Supply (TSCO), Tupperware (TUP), United Rentals (URI), and Whirlpool (WHR) are among the big names set to report. Blue Buffalo Pet Products is expected to go public under the ticker BUFF. To see what else is on this week's docket, click here.

Overseas Trading

For a breakdown of today's trading in Asia and Europe, including a fifth straight win for the Shanghai Composite, read Overseas Trading: Apple's Soft Sales Forecast Pressures Global Tech Stocks.

Unusual Put and Call Activity

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