Energy Woes Turn Up the Heat on Dow Jones Industrial Average

Asian markets finished mostly higher, but European bourses are retreating

Dec 12, 2014 at 8:16 AM
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The Dow Jones Industrial Average (INDEXDJX:DJI) is poised to drop out of the gate, as fears continue to brew over the long-term slump in energy prices -- including an unwelcome milestone for crude yesterday. Exacerbating worries is a new report from the International Energy Agency (IEA), which reduced next year's forecast for global oil demand growth. Looking ahead, traders are awaiting the latest producer price index (PPI) and the preliminary Thomson Reuters/University of Michigan consumer sentiment index for December.

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 more than 96 points below fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 928,958 call contracts traded on Thursday, compared to 664,359 put contracts. The resultant single-session equity put/call ratio edged down to 0.72, while the 21-day moving average ticked higher to 0.61.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index is down 0.3% at 88.36.
  • Crude oil has shed 1% at $59.61 per barrel.
  • Gold edged 0.3% lower to $1,222.40 per ounce.
Currencies and commodities

Earnings and Economic Data

The Thomson Reuters/University of Michigan consumer sentiment index and PPI come out today. There are no major earnings reports on the docket.

Overseas Trading

Asian bourses took their cue from yesterday's U.S. stock market rally, finishing mostly higher. Traders also priced in expectations for additional stimulus measures following a weaker-than-expected industrial production reading out of China. At the close, the Shanghai Composite was up 0.5%, with an assist from strong retail sales data for November. Meanwhile, Japan's Nikkei and South Korea's Kospi added 0.7% and 0.3%, respectively. Hong Kong's Hang Seng was the lone outlier, trimming 0.3%.

Equities in Europe are sharply lower at midday, pressured by a slumping energy sector, and amid unanswered calls for full-scale quantitative easing. London's FTSE 100 is off 1.3%, France's CAC 40 has shed 1.5%, and Germany's DAX has given back 1.2%.

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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