Dow (DJI) Down on Greek Election News Today

Anti-austerity Syriza won Greece's general election yesterday

Jan 26, 2015 at 8:29 AM

The Dow Jones Industrial Average (INDEXDJX:DJI) is sitting solidly lower this morning, after the left-wing Syriza party -- which rejects the austerity measures imposed by foreign lenders during a recent financial bailout -- won Greece's general election yesterday. On the home front, the Dallas Fed's manufacturing survey is due out today. Meanwhile, traders are eagerly awaiting post-close earnings from Dow component Microsoft Corporation (NASDAQ:MSFT), as well as semiconductor issue Texas Instruments Incorporated (NASDAQ:TXN).

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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 42 points below fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 995,244 call contracts traded on Friday, compared to 695,310 put contracts. The resultant single-session equity put/call ratio jumped to 0.70, while the 21-day moving average edged up to 0.66.

Currencies and Commodities

The U.S. dollar index is up 0.2% at 94.97.
Crude oil is 0.4% lower at $45.42 per barrel.
Gold is poised to retreat further from the $1,300 level, down 0.7% at $1,283.10 per ounce.

Earnings and Economic Data

The Dallas Fed's manufacturing survey will kick off the week. MSFT, Ashland (ASH), D.R. Horton (DHI), Seagate Technology (STX), TXN, and Zions Bancorporation (ZION) will release earnings.

Overseas Trading

Asian stocks finished mixed, following Greece's election results. China's Shanghai Composite and Hong Kong's Hang Seng gained 1% and 0.2%, respectively. However, Japan's Nikkei gave back 0.3%, despite news that December imports rose by a larger-than-anticipated margin on a year-over-year basis. South Korea's Kospi was down fractionally, with Kia Motors dropping 6% on disappointing fourth-quarter guidance.

European benchmarks are also mixed on the Syriza party's win, and amid news the European Union will host an emergency meeting on Thursday to discuss the ongoing conflict in Ukraine. At midday, London's FTSE 100 is 0.2% lower, while the French CAC 40 and German DAX are up 0.3% and 0.8%, respectively.

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.

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