Dow Jones Industrial Average Futures Higher; Crude to Test $50

Verizon Communications Inc. (VZ) approached AOL, Inc. (AOL) about a potential merger

Jan 6, 2015 at 8:33 AM
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In the wake of yesterday's sharp sell-off, the Dow Jones Industrial Average (INDEXDJX:DJI) appears to be on the mend. While oil continues to drive market chatter -- futures on the commodity are signaling another test of the round-number $50 mark -- reports on the service sector and factory activity could garner some attention. On the corporate front, Verizon Communications Inc. (NYSE:VZ) and AOL, Inc. (NYSE:AOL) could see some action, with the former reportedly approaching the latter about a potential merger.

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 62 points above fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 885,287 call contracts traded on Monday, compared to 695,746 put contracts. The resultant single-session equity put/call ratio dropped to 0.79, while the 21-day moving average edged up to 0.66.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index is 0.2% higher at 91.59.
  • After breaching the $50 mark yesterday in intraday action, crude oil is poised to test this round number again today, with futures down 2% at $49.05 per barrel.
  • Gold, meanwhile, is up 0.4% at $1,209.30 per ounce.
Currencies and commodities

Earnings and Economic Data

The Institute for Supply Management's (ISM) non-manufacturing index and factory orders are slated for release today. Micron Technology (MU), Commercial Metals Company (CMC), Lindsay (LNN), and Sonic (SONC) will step into the earnings confessional.

Overseas Trading

Asian markets finished mostly lower today, amid oil's continued slide and speculation surrounding Greece's potential exit from the euro zone. By the close, Japan's Nikkei fell 3% to a three-week low, South Korea's Kospi shed 1.7%, and Hong Kong's Hang Seng surrendered 1%. China's Shanghai Composite, meanwhile, managed to eke out a 0.1% gain, thanks to a rally in train makers and airlines, as well as an upbeat reading on service sector growth.

Across the pond, benchmarks are mixed at midday, as traders keep a close eye on crude oil and digest a pair of purchasing managers index (PMI) readings. Specifically, Markit's PMI for the eurozone was downwardly revised, while the U.K.'s PMI for the service sector slumped to its lowest level in 19 months. Against this backdrop, the German DAX is up 0.4%, the French CAC 40 is fractionally higher, while London's FTSE 100 is flirting with a 0.5% 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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