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Dow is Looking for Higher Highs; GDP is in Focus

The final U.S. third-quarter GDP reading is due out

Dec 23, 2014 at 8:22 AM
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The Dow Jones Industrial Average (INDEXDJX:DJI) is pointed higher following last night's historic close. Meanwhile, traders are awaiting a raft of economic data ahead of the bell, including durable goods orders, the latest gross domestic product (GDP) reading, and personal income and spending. On the earnings front, Walgreen Company (NYSE:WAG) reported better-than-expected fiscal first-quarter results.

And now, on to the numbers...

Dow Jones Industrial Average, S&P and Nasdaq futures

Futures on the Dow Jones Industrial Average 2 Minute (INDEXDJX:.DJI) are roughly 50 points above fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1.17 million call contracts traded on Monday, compared to 575,930 put contracts. The resultant single-session equity put/call ratio fell to 0.49, while the 21-day moving average edged lower to 0.64.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index is up 0.1% at 89.83.
  • Crude oil is rebounding, up 1.5% at $56.07 per barrel.
  • Gold is off 0.1% at $1,178.40 per ounce.
Currencies and commodities

Earnings and Economic Data

Durable goods, the final reading on third-quarter GDP, personal income and spending, the Thomson Reuters/University of Michigan consumer sentiment index, and new home sales are all scheduled for release today. Cal-Maine (CALM), CalAmp (CAMP), WAG, Piedmont Natural Gas (PNY), and China Finance Online (JRJC) will step into the earnings confessional.

Overseas Trading

Asian stocks settled lower, as sinking oil prices raised investor fears. The Shanghai Composite plunged 3% -- with PetroChina and Sinopec leading the way with losses of 5.6% and 4.9%, respectively -- amid news of a government investigation into stock-price manipulation. Elsewhere, South Korea's Kospi edged 0.2% lower, while Hong Kong's Hang Seng dropped 0.3%, with Dalian Wanda Commercial Properties shedding 7.8% in its public debut. Japan's Nikkei was shuttered for the Emperor's Birthday.

European indexes are trading in the green around midday, with London's FTSE 100 up 0.4% following some key brand acquisitions for consumer goods giant Unilever. Meanwhile, Frankfurt's DAX has tacked on 0.3%, while the French CAC 40 has rallied 0.7%, as the nation's third-quarter GDP was in line with estimates.

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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