Dow Jones Industrial Average Set for More Volatility; Fed on Tap

Crude oil has plunged nearly 3%, while gold is poised to retake $1,200

Dec 17, 2014 at 8:17 AM
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It's been a turbulent week for the Dow Jones Industrial Average (INDEXDJX:DJI), and the blue-chip barometer is poised to extend this roller-coaster ride in today's session. Bulls appear to be at the helm, however, with futures up more than 89 points. The central bank will be in focus, with the Federal Open Market Committee (FOMC) slated to unveil their latest policy decision at 2 p.m. ET, followed by a press conference with Fed Chair Janet Yellen. However, Wall Street will also be keeping a close eye on the Russian ruble, which is extending its decline against the dollar, as well as crude oil, which is lower ahead of today's weekly inventories update.

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 89 points above fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1.10 million call contracts traded on Tuesday, compared to 811,260 put contracts. The resultant single-session equity put/call ratio edged down to 0.74, while the 21-day moving average rose to 0.63.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index is up 0.2% at 88.26.
  • Crude oil is poised to resume its rout, down 2.9% at $54.64 per barrel.
  • Gold, meanwhile, is 0.5% higher at $1,200.20 per ounce.
Currencies and commodities

Earnings and Economic Data

The latest policy announcement by the FOMC highlights today's docket, as well as the subsequent press conference from Fed Chair Janet Yellen. Also being released are the consumer price index (CPI) and the weekly crude inventories report. FedEx (FDX), General Mills (GIS), Joy Global (JOY), and Oracle (ORCL) will show their earnings power.

Overseas Trading

Markets in Asia finished on both sides of breakeven today, ahead of today's policy decision from the FOMC. In China, banking stocks helped boost the Shanghai Composite to a 1.3% win, while Japan's Nikkei tacked on 0.4%, despite a stronger yen and lackluster trade data. Elsewhere, Hong Kong's Hang Seng gave back 0.4%, and South Korea's Kospi logged a 0.2% loss.

Across the pond, indexes are trading lower at midday, amid a sell-off in stocks with ties to Russia. Additionally, investors are taking a cautious stance as Greece kicks off the first round of three in its presidential election process. At last check, London's FTSE 100 is off 0.7%, the German DAX is down 0.6%, and the French CAC 40 is flirting with a 0.4% 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

 

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