Dow Aims for Another 200-Point Lift on BoJ Surprise

Gold futures are extending their retreat beneath $1,200 an ounce

Oct 31, 2014 at 8:18 AM
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The Dow Jones Industrial Average (INDEXDJX:DJI) is poised to extend yesterday's 200-plus-point surge, as traders celebrate an unexpected stimulus campaign from the Bank of Japan (BoJ). On the home front, Wall Street will weigh data on consumer spending and sentiment, as well as the Chicago purchasing managers index (PMI). Outside of the economic calendar, speculators are watching commodities; gold futures are sinking as the greenback gains ground, while oil-and-gas issues Chevron Corporation (NYSE:CVX) and Exxon Mobil Corporation (NYSE:XOM) step into the earnings spotlight.

And now, on to the numbers...

Dow Jones Industrial Average, S&P and Nasdaq futures

Futures on the Dow Jones Industrial Average 2 Minute (INDEXDJX:.DJI) are nearly 192 points above fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1.18 million call contracts traded on Thursday, compared to 687,197 put contracts. The resultant single-session equity put/call ratio fell to 0.58, while the 21-day moving average dipped to 0.68.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index is extending its lead, up 0.5% at 86.55.
  • Crude oil is down 0.9% at $80.39 per barrel.
  • Gold is deepening its retreat south of $1,200, down 2.2% at $1,172.70 an ounce.
Currencies and commodities

Earnings and Economic Data

Today's docket features personal income and spending numbers, the Chicago PMI, and the Thomson Reuters/University of Michigan's final reading on consumer sentiment for October. Stepping into the earnings spotlight will be CVX, XOM, Anheuser-Busch InBev (BUD), Clorox (CLX), Hilton Worldwide (HLT), Sony (SNE), and Weyerhaeuser (WY).

Overseas Trading

Stocks in Asia finished solidly higher, with Japan soaring 4.8% to a seven-year peak, after the BoJ announced a surprise stimulus package. Other indexes followed suit, with the Hong Kong Hang Seng and China's Shanghai Composite adding 1.3% apiece, while South Korea's Kospi climbed out of the red to end 0.3% higher.

European benchmarks are also in the black at midday, thanks to the BoJ decision and upbeat data out of the U.S. Meanwhile, eurozone inflation edged higher in October, in line with expectations. At last check, London's FTSE 100 was 1.2% higher, Germany's DAX was flirting with a 1.8% lead, and France's CAC 40 was on pace for a 2% win.

Overseas markets

Unusual Put and Call Activity:

Due to an issue with our data provider, the unusual put and call tables are unavailable this morning. We apologize for the inconvenience.


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