Dow Jones Industrial Average Pointed Higher as 2015 Kicks Off

Comments from ECB President Mario Draghi are weighing on overseas markets

Jan 2, 2015 at 8:18 AM
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The Dow Jones Industrial Average (INDEXDJX:DJI) appears ready to rebound from Wednesday's 160-point retreat, with futures sitting solidly higher in electronic trading. While the session will be silent on the earnings front, there will be plenty of economic data to digest. Markit's purchasing managers manufacturing index (PMI) is due out ahead of the bell, with manufacturing and construction spending numbers scheduled for 10 a.m. ET.

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 73 points above fair value.

Market Statistics

In thin trading, the Chicago Board Options Exchange (CBOE) saw 906,399 call contracts traded on Wednesday, compared to 507,239 put contracts. The resultant single-session equity put/call ratio slipped to 0.56, while the 21-day moving average edged down to 0.64.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index has gained 0.5% at 90.77.
  • Crude oil is poised to hit another fresh five-year low, down 0.7% at $52.92 per barrel.
  • Gold has retreated 0.1% to $1,182.90 per ounce.
Currencies and commodities

Earnings and Economic Data

Markit's manufacturing PMI, the Institute for Supply Management's (ISM) manufacturing index, and construction spending data are all scheduled for release today. There are no notable earnings on deck.

Overseas Trading

Asian bourses settled mostly higher, though Japan's Nikkei and China's Shanghai Composite remained shuttered for the New Year holiday. Hong Kong's Hang Seng added 1.1%, helped by strength among financial and property stocks. Also, South Korea's Kospi tacked on 0.6%, as blue chips (such as steelmaker Posco) buoyed the benchmark index.

Stocks in Europe are trading lower around midday, pressured by a disappointing manufacturing PMI from Markit. Also weighing on trader sentiment are comments from European Central Bank (ECB) President Mario Draghi, who cited an increasing risk of the central bank failing to maintain price stability within the region. At last check, London's FTSE 100 is down 0.2%, the French CAC 40 has shed 0.3%, and Germany's DAX is 0.6% lower.

Overseas markets

Unusual Put and Call Activity:

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Unusual options activity - puts

Unusual options activity - calls

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