Oil Sell-Off Resumes; Dow to End 2014 On a High Note

China's Shanghai Composite added more than 50% in 2014

Dec 31, 2014 at 8:16 AM
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The Dow Jones Industrial Average (INDEXDJX:DJI) is looking to end the year on a strong note -- and claw its way back atop 18,000 -- with futures pointed solidly higher ahead of the bell. In what's bound to be another thinly traded session, speculators will digest an early round of jobless data, the latest housing stats, and the Chicago purchasing managers index (PMI). In addition, the Street will keep an eye on crude oil, which has erased yesterday's modest gains to flirt with fresh multi-year lows ahead of today's inventory data.

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 40 points above fair value.

Market Statistics

In thin trading, the Chicago Board Options Exchange (CBOE) saw 659,330 call contracts traded on Tuesday, compared to 437,283 put contracts. The resultant single-session equity put/call ratio jumped to 0.66, while the 21-day moving average remained at 0.65.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index is down 0.1% at 89.93.
  • After ticking higher yesterday, crude oil has slipped back into five-year-low territory, down 1.9% at $53.12 per barrel.
  • Gold has backpedaled 0.1% to $1,199.10 per ounce.
Currencies and commodities

Earnings and Economic Data

With markets shuttered tomorrow, weekly jobless claims will come out today, alongside the Chicago PMI, pending home sales, and the weekly crude inventories report. There are no noteworthy earnings scheduled.

Overseas Trading

Stocks in Asia ended higher today, after China's final HSBC/Markit manufacturing PMI edged higher from the preliminary December reading. By the holiday-shortened close, Hong Kong's Hang Seng tacked on 0.4%, settling with an annual gain of 1.2%. The Shanghai Composite, meanwhile, soared 2.2% to end the year 53% higher. Indexes in Japan and South Korea were closed for the New Year.

Amid light volume and a holiday-shortened session, European benchmarks were on the mend, at last check. Despite lingering concerns about Greece, London's FTSE 100 was up 0.3%, while France's CAC 40 was flirting with a 0.6% gain. Germany's DAX was shuttered for holiday.

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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