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Asian stocks followed oil lower once again
The Dow Jones Industrial Average (INDEXDJX:DJI) is sitting higher ahead of the bell, as November retail sales rose a stronger-than-forecast 0.7%, marking the fastest growth in eight months. Several other key reports are due out, too -- including weekly jobless claims and September business inventories -- which could provide potential catalysts. On the earnings front, Lululemon Athletica inc. (NASDAQ:LULU) is sitting solidly lower this morning, despite a third-quarter earnings beat, while Adobe Systems Incorporated (NASDAQ:ADBE) will step into the confessional this afternoon.
And now, on to the numbers...
Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are roughly 57 points above fair value.
Market Statistics
The Chicago Board Options Exchange (CBOE) saw 1 million call contracts traded on Wednesday, compared to 743,328 put contracts. The resultant single-session equity put/call ratio slid to 0.74, while the 21-day moving average held steady at 0.60.
Currencies and Commodities
- The U.S. dollar index is off a slight 0.04% at 88.24.
- Crude oil has rebounded 0.7% at $61.38 per barrel.
- Gold has retreated 0.5% at $1,223.10 per ounce.
Earnings and Economic Data
Weekly jobless claims will come out today, along with retail sales figures, import and export prices, and business inventories. On the earnings front, ADBE and Ciena (CIEN) will report.
Overseas Trading
Asian equities fell once again, hit by tumbling oil prices and Japan's disappointing core machinery orders reading for October. Elsewhere, South Korea's central bank maintained its interest rates, as expected. By the close, Japan's Nikkei had given back 0.9%, with the yen bouncing back (relative to the dollar), and South Korea's Kospi was off 1.5%. Elsewhere, the Shanghai Composite and Hong Kong's Hang Seng dropped 0.5% and 0.9%, respectively.
European bourses are mixed, with traders divided on whether the European Central Bank (ECB) will launch a more extensive quantitative easing program. Around midday, France's CAC 40 is down 0.5%, amid a weaker-than-expected consumer price reading for November, while London's FTSE 100 has skidded 0.9%. Elsewhere, the German DAX is flirting with a 0.1% lead, after showing an unchanged inflation rate last month.
Unusual Put and Call Activity:
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