Dow Jones Industrial Average Takes Aim at a New Record as Traders Eye GDP, Housing Data

China's Shanghai Composite notched a multi-year high on stimulus optimism

by Karee Venema

Published on Nov 25, 2014 at 8:27 AM
Updated on Apr 20, 2015 at 5:32 PM

The Dow Jones Industrial Average (INDEXDJX:DJI) is poised to notch another record close today, with futures pointed modestly higher ahead of the bell. In focus will be the second reading on third-quarter gross domestic product (GDP) -- with economists forecasting a slight downward adjustment from the initial estimate of 3.5% -- and a pair of housing reports. Additionally, traders will keep a cautious eye trained on Ferguson, Missouri, where riots erupted overnight after a grand jury's decision not to indict a white police officer in the shooting death of an unarmed black teenager.

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 more than 21 points above fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1.13 million call contracts traded on Monday, compared to 613,312 put contracts. The resultant single-session equity put/call ratio rose to 0.54, while the 21-day moving average remained at 0.60.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index is up 0.1% at 88.20.
  • Crude oil has tacked on 0.6% ahead of the bell to trade at $76.26 per barrel.
  • Gold is 0.3% higher at $1,199.90 per ounce.
Currencies and commodities

Earnings and Economic Data

The preliminary third-quarter GDP number will be released today, and the S&P/Case-Shiller home price index and consumer confidence figures are also on the docket. On the earnings front, we'll hear from Campbell Soup (CPB), Cracker Barrel (CBRL), Ctrip.com (CTRP), Diana Shipping (DSX), DSW (DSW), E-Commerce China Dangdang (DANG), Hewlett-Packard (HPQ), Hormel Foods (HRL), Tiffany & Co. (TIF), TiVo (TIVO), and Yingli Green Energy (YGE).

Overseas Trading

Asian markets finished mostly higher today, as traders continued to react positively to last week's unexpected rate cut in China . The Shanghai Composite settled up 1.4% -- and notched a multi-year high -- while Japan's Nikkei tacked on 0.3%, and South Korea's Kospi added 0.1%. Hong Kong's Hang Seng sat out the day's bullish bias to close 0.2% lower.

European bourses are in the green at midday, following a report that showed Germany's economy grew a sequential 0.1% in the third quarter. Additionally, reassuring stimulus chatter from Bank of England Governor Mark Carney is helping to lift investor sentiment. Against this backdrop, the German DAX is up 0.9%, the French CAC 40 is 0.5% higher, while London's FTSE 100 is flirting with a 0.1% lead.

Overseas markets

Unusual Put and Call Activity:

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Unusual options activity - puts

Unusual options activity - calls


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