Dow Jones Industrial Average Set to Snap Weekly Losing Streak

The ECB stimulus announcement has global markets soaring

Jan 23, 2015 at 8:19 AM
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The Dow Jones Industrial Average (INDEXDJX:DJI) is poised to extend yesterday's central bank-related rally, with futures pointed higher this morning. Sparking the risk-on attitude is Thursday's massive stimulus announcement from the European Central Bank (ECB), which sent the Dow to a 260-point gain. The blue-chip barometer is now on pace to notch its first weekly win of the year. Also in focus today will be the latest round of quarterly earnings reports -- with General Electric Company (NYSE:GE) and McDonald's Corporation (NYSE:MCD) among the many names unveiling their results -- as well as an update on existing home sales.

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 24 points above fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1.1 million call contracts traded on Thursday, compared to 649,877 put contracts. The resultant single-session equity put/call ratio dropped to 0.58, 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 up 1.3% at 95.28.
  • Crude oil is 0.3% higher at $46.44 per barrel.
  • Gold, meanwhile, is poised to test its footing atop the $1,300 mark, and was last seen 0.3% lower at $1,296.70 per ounce.
Currencies and commodities

Earnings and Economic Data

Today's economic calendar includes the existing home sales report and the Conference Board's index of leading economic indicators. GE, MCD, Bank of New York Mellon (BK), Honeywell (HON), Kimberly-Clark (KMB), and Rockwell Collins (COL) will release their earnings data.

Overseas Trading

Asian benchmarks followed their U.S. counterparts into the green today, as traders cheered the ECB's massive stimulus program. In Hong Kong, the Hang Seng rallied 1.3% amid well-received M&A news, while Japan's Nikkei tacked on 1.1%, and South Korea's Kospi jumped 0.8%, despite a worse-than-expected reading on fourth-quarter gross domestic product. China's Shanghai Composite, meanwhile, added 0.3%, following a stronger-than-forecast HSBC flash purchasing managers index.

Markets in Europe are extending their ECB-related gains, with a better-than-expected report on eurozone business activity helping to buoy investor sentiment. Looking ahead, traders will be keeping a close eye on Greece, which is scheduled to hold a snap election for a new parliament on Sunday. At last check, the French CAC 40 is up 2.5%, the German DAX is 2.3% higher, and London's FTSE 100 is flirting with a 0.4% lead.

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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