Dow Jones Industrial Average Flat, Despite Swiss Bank Shock

The Swiss National Bank removed its foreign currency peg versus the euro

Jan 15, 2015 at 8:29 AM
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The Dow Jones Industrial Average (INDEXDJX:DJI) is little moved this morning, despite dipping earlier on news that the Swiss National Bank has ended its foreign currency cap relative to the euro. Meanwhile, traders are digesting the latest round of earnings from financial firms, as Bank of America Corp (NYSE:BAC) and Citigroup Inc (NYSE:C) both reported fourth-quarter numbers -- and fell short of the Street's estimates, sending them each about 2% lower in electronic trading. Looking ahead, weekly jobless claims and the producer price index (PPI) will hit the Street today, while blue chip Intel Corporation (NASDAQ:INTC) will release its quarterly results after the close.

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 roughly 1 point below fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1.1 million call contracts traded on Wednesday, compared to 856,272 put contracts. The resultant single-session equity put/call ratio popped to 0.75, while the 21-day moving average remained at 0.64.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index is 0.4% lower at 91.83.
  • Crude oil is sustaining its momentum ahead of the bell, up 1.7% at $49.77 per barrel.
  • Gold is also headed north, tacking on 1.3% at $1,251.10 per ounce.
Currencies and commodities

Earnings and Economic Data

Weekly jobless claims, the PPI, the Empire State manufacturing survey, and the Philadelphia Fed manufacturing survey come out today. BAC, INTC, C, Lennar (LEN), BlackRock (BLK), Charles Schwab (SCHW), Fastenal Company (FAST), PPG Industries (PPG), Schlumberger (SLB), and Taiwan Semiconductor (TSM) will head under the earnings spotlight.

Overseas Trading

Asian indexes rallied on rebounding energy prices, as well as a surprise interest rate cut in India. China's Shanghai Composite was the biggest percentage gainer, advancing 3.5%, as infrastructure stocks showed strength following news that the government will increase investments in Western provinces by nearly $100 billion. Meanwhile, Japan's Nikkei rose 1.9% on a weaker yen, Hong Kong's Hang Seng tacked on 1%, and South Korea's Kospi ended fractionally higher.

European benchmarks are sitting north of breakeven, helped by stabilizing oil prices. France's CAC 40 leads the bunch with a 1.2% gain, while London's FTSE 100 and the German DAX are up 0.6% and 1%, respectively. In other European news, the Swiss National Bank voted to end its foreign currency cap versus the euro and lower its key interest rate further into negative territory.

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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