Dow Set to Snap Two-Day Winning Streak; Payrolls

Speculation is swirling the ECB could announce a $593 billion stimulus package

Jan 9, 2015 at 8:18 AM
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After soaring back into the black on a year-to-date basis Thursday, futures on the Dow Jones Industrial Average (INDEXDJX:DJI) are pointed sharply lower this morning. Traders are taking a cautious stance ahead of the Labor Department's nonfarm payrolls report, set to be released at 8:30 a.m. ET. Economists are expecting the U.S. to have added 240,000 jobs last month, with the unemployment rate forecast to fall to 5.7% from 5.8%. Also in focus will be a mid-afternoon speech by Richmond Fed President Jeffrey Lacker, which follows in the footsteps of dovish statements made by Chicago Fed President Charles Evans earlier this week.

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 nearly 64 points below fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1.22 million call contracts traded on Thursday, compared to 655,615 put contracts. The resultant single-session equity put/call ratio plunged to 0.54, while the 21-day moving average edged down to 0.65.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index is down 0.3% at 92.12.
  • Crude oil is on pace to pare a portion of Thursday's gains, and was last seen 0.2% lower at $49.19 per barrel.
  • Gold, meanwhile, is up 0.4% at $1,213.60 per ounce.
Currencies and commodities

Earnings and Economic Data

The Labor Department's monthly report on nonfarm payrolls and the unemployment rate come out today, along with wholesale inventories. Infosys (INFY), Acuity Brands (AYI), and AZZ Incorporated (AZZ) will step under the earnings spotlight.

Overseas Trading

Most Asian markets settled higher today, as steadying oil prices -- and a rally on Wall Street -- buoyed investor sentiment. By the close, South Korea's Kospi was up 1.1%, Hong Kong's Hang Seng had tacked on 0.4%, and Japan's Nikkei finished up 0.2%. China's Shanghai Composite, however, was once again the lone laggard, shedding 0.2%, following a round of disappointing inflation data.

European benchmarks are in the red at midday, as caution sets in ahead of the Labor Department's nonfarm payrolls report in the U.S. Meanwhile, traders are also digesting rumors the European Central Bank may possibly announce a $593 billion stimulus package at its Jan. 22 meeting. At last check, the French CAC 40 and London's FTSE 100 are both flirting with 0.6% losses, while the German DAX is down 0.5%.

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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