Dow Jones Industrial Average Follows Europe Lower

Best Buy Co Inc is surging on its latest earnings report

Nov 20, 2014 at 8:20 AM
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The Dow Jones Industrial Average (INDEXDJX:DJI) is following European bourses south, as traders continue to process the latest meeting minutes from the Federal Reserve. On the economic front, today will be busy, with the latest jobless claims report, consumer price index (CPI), and existing home sales data all hitting the Street. Among the companies entering the earnings confessional this evening are The Gap Inc. (NYSE:GPS) and Marvell Technology Group Ltd. (NASDAQ:MRVL), while Best Buy Co Inc (NYSE:BBY) is pointed sharply higher on an encouraging quarterly report.

And now, on to the numbers...

Dow Jones Industrial Average, S&P and Nasdaq futures

Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are about 58 points below fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1.1 million call contracts traded on Wednesday, compared to 632,848 put contracts. The resultant single-session equity put/call ratio jumped to 0.60, while the 21-day moving average stayed at 0.62.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index is more or less flat at 87.68.
  • Crude oil has popped 0.4% to $74.77 per barrel.
  • Gold is 0.1% lower at $1,193.10 per ounce.
Currencies and commodities

Earnings and Economic Data

Weekly jobless claims, the CPI and core CPI, the Philadelphia Fed's manufacturing survey, and existing home sales make up today's docket. Companies presenting earnings include Aruba Networks (ARUN), BBY, Buckle (BKE), Dollar Tree (DLTR), GameStop (GME), GPS, JinkoSolar Holding (JKS), MRVL, Mobileye N.V. (MBLY), and Splunk (SPLK).

Overseas Trading

Asian indexes closed mixed, amid a glut of economic data from the region's two largest economies. Japan's Nikkei edged 0.1% higher on export and import data, which indicated the nation's trade deficit fell more than expected in October. Meanwhile, China's Shanghai Composite also rose 0.1%, despite a disappointing HSBC flash purchasing managers index (PMI) that showed weaker-than-expected factory activity this month. Elsewhere, Hong Kong's Hang Seng slipped 0.1%, while South Korea's Kospi paced the decliners, sliding 0.5% on weakness among automotive stocks.

Stocks in Europe are declining on lower-than-projected PMI data for November, and weak quarterly earnings from several mining companies. Germany's DAX is down 0.7%, while France's CAC 40 has dropped 1.2%. Also, London's FTSE 100 is 0.6% lower, following news that Britain's appeal against the European Union's (EU) planned bonus cap for bankers was rejected by an advisor to the European Court of Justice.

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

 

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