Dow Jones Industrial Average Higher on Hopes for Dovish Draghi

China's Shanghai Composite rallied 4.4% to a fresh three-year peak

Dec 4, 2014 at 8:22 AM
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After settling at a fresh record peak yesterday, futures on the Dow Jones Industrial Average (INDEXDJX:DJI) are pointed modestly higher this morning. Ahead of the bell, eyes will be trained across the pond, where European Central Bank President (ECB) Mario Draghi is slated to take the podium shortly. As expected, the central bank chose to stand pat on its record-low interest rates, but traders will be looking for hints of further stimulus measures. Back on the homefront, Fed officials Loretta Mester and Lael Brainard are scheduled to speak. Additionally, weekly jobless claims will be in focus, ahead of tomorrow's highly anticipated nonfarm payrolls 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 4 points above fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 935,706 call contracts traded Wednesday, compared to 604,914 put contracts. The resultant single-session equity put/call ratio remained at 0.65, while the 21-day moving average maintained its perch at 0.60.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index is little changed at 88.95.
  • Crude oil is on pace to pare a portion of Wednesday's gains, down 0.6% at $66.98 per barrel.
  • Elsewhere, gold is 0.4% lower at $1,204.20 per ounce.
Currencies and commodities

Earnings and Economic Data

Weekly jobless claims will come out today. American Eagle (AEO), Barnes & Noble (BKS), Dollar General (DG), Express (EXPR), Finisar (FNSR), Five Below (FIVE), Kroger (KR), and Smith & Wesson (SWHC) will step into the earnings confessional.

Overseas Trading

Asian markets jumped today after the Federal Reserve expressed optimism in its final Beige Book of 2014. China's Shanghai Composite led the charge higher with a 4.4% pop to settle at a fresh three-year peak. Elsewhere, Japan's Nikkei rose for a fifth straight session, closing up 0.9% as the yen plunged to a seven-year low against the U.S. dollar, while Hong Kong's Hang Seng added 1.7%, and South Korea's Kospi finished 0.9% higher.

European bourses are in the green at midday, as traders digest decisions by the ECB and Bank of England (BoE) to keep their respective interest rates at record-low levels. All eyes will now be on ECB President Mario Draghi's subsequent press conference. At last check, the German DAX is up 0.5%, the French CAC 40 is enjoying a 0.4% lead, and the U.K. FTSE 100 is 0.1% higher.

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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