Crude Sinks, Dow Jones Industrial Average Futures Dip

Crude oil and Alibaba Group Holding Ltd (NYSE:BABA) are in focus

Nov 4, 2014 at 8:19 AM
facebook twitter linkedin

The Dow Jones Industrial Average (INDEXDJX:DJI) is set to follow black gold into the red, with crude futures slumping in the wake of a price shift from Saudi Arabia. In addition, the European Commission cut its economic outlook for the eurozone, which is also weighing on global sentiment. On the home front, speculators are awaiting the latest data on factory orders and the trade balance, with one eye trained on the midterm election polls.

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 27 points below fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1.16 million call contracts traded on Monday, compared to 702,597 put contracts. The resultant single-session equity put/call ratio jumped to 0.61, while the 21-day moving average remained at 0.68.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index is down 0.2% at 87.17.
  • Crude oil is extending its journey into two-year-low territory, down 3.2% at $76.29 per barrel.
  • Gold is down 0.1% at $1,168.80 an ounce.
Currencies and commodities

Earnings and Economic Data

Today, the international trade balance will be released, along with factory orders. Stepping up to the earnings plate are BABA, Activision Blizzard (ATVI), AK Steel (AKS), Becton, Dickinson and Co. (BDX), Burger King (BKW), CVS Health (CVS), FireEye (FEYE), Michael Kors (KORS), Priceline (PCLN), TripAdvisor (TRIP), Twenty-First Century Fox (FOXA), Valero Energy (VLO), and Zulily (ZU).

Overseas Trading

After a long weekend -- and with help from a cooling yen -- Japan's Nikkei surged 2.7% to notch a new seven-year peak, and briefly topped the 17,000 level in intraday action. China's Shanghai Composite eked out a fractional gain, while Hong Kong's Hang Seng surrendered 0.3%. South Korea's Kospi extended Monday's slide, shedding 0.9%.

European benchmarks are mostly lower at midday, as traders digest the European Commission's downwardly revised economic forecast for the eurozone. In addition, news that Saudi Arabia boosted oil prices to Europe is weighing on black gold and oil-related stocks. At last check, London's FTSE 100 was down 0.1%, and France's CAC 40 was 0.2% lower. Germany's DAX was bucking the trend, up 0.2%.

Overseas markets

Unusual Put and Call Activity:

For an explanation of how to use this information, check out our Education Center topics on Option Volume and Open Interest Configurations.

Unusual options activity - puts

Unusual options activity - calls


Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 



Special Offers from Schaeffer's Trading Partners