Dow Jones Industrial Average Looks North Before a Barrage of Data; Crude in Focus

China's Shanghai Composite rallied to a three-year peak, thanks to a boost from financials

by Karee Venema

Published on Nov 26, 2014 at 8:20 AM
Updated on Apr 20, 2015 at 5:32 PM

After taking a slight breather yesterday, the Dow Jones Industrial Average (INDEXDJX:DJI) is poised to resume its uptrend today ahead of a raft of economic data due out. With markets closed tomorrow for the Thanksgiving holiday, it's going to be a busy day on the Street. Among the numerous reports on the day's docket are weekly jobless claims, durable goods orders, personal income and spending data, and new and pending home sales. Additionally, crude oil will continue to be in focus, as traders await the outcome of tomorrow's highly anticipated Organization of Petroleum Exporting Countries (OPEC) meeting.

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 17 points above fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1.05 million call contracts traded on Tuesday, compared to 655,394 put contracts. The resultant single-session equity put/call ratio rose to 0.62, while the 21-day moving average dropped to 0.59.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index is down 0.05% to trade at 87.88.
  • Ahead of today's weekly inventories update -- and tomorrow's OPEC meeting -- crude oil is flirting with a 0.1% lead to linger near $74.15 per barrel.
  • Gold, meanwhile, has shed 0.1% to hover around $1,196.70 per ounce.
Currencies and commodities

Earnings and Economic Data

With markets closed tomorrow for Thanksgiving, weekly jobless claims will make an early arrival today. Also set for release are the regularly scheduled crude inventories update, personal income and spending numbers, durable goods orders, the Thomson Reuters/University of Michigan's consumer sentiment index, new home sales data, and the pending home sales index. Deere (DE) and Seadrill (SDRL) will report earnings.

Overseas Trading

Markets in Asia settled mostly higher today, after U.S. gross domestic product (GDP) for the third quarter was unexpectedly revised higher. China's Shanghai Composite rallied 1.5% to a new three-year peak, thanks to a boost from financials. Elsewhere, Hong Kong's Hang Seng tacked on 1.1%, while South Korea's Kospi eked out a 0.03% gain. Japan's Nikkei, however, sat out the day's uptrend -- finishing 0.1% lower on the back of a strengthening yen.

Most European bourses are in the green at midday, as traders express optimism that the European Central Bank (ECB) could announce a fresh round of stimulus measures at its meeting next week. Meanwhile, on the economic front, traders are digesting the U.K.'s revised GDP reading, as well as consumer confidence data out of France. Among equities in focus, London-based travel concern Thomas Cook has plunged more than 20% after announcing the immediate departure of its CEO. Against this backdrop, the German DAX is 0.5% higher, U.K.'s FTSE 100 is up 0.1%, and the French CAC 40 is flirting with a 0.1% loss.

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


A Schaeffer's exclusive!

The Expert's Guide

Access your FREE trading earning announcements before it's too late!


 
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


The Nevada Discovery That Could Jeopardize Chinese Dominance
Click to continue to advertiser's site.
Puts Popular as GM Stock Rallies
GM puts are all the rage lately
JetBlue Stock Surging Despite Sector Skepticism
J.P. Morgan Securities downgraded JBLU to "neutral" from "overweight"
The Nevada Discovery That Could Jeopardize Chinese Dominance
Click to continue to advertiser's site.