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Several Dow components posted disappointing earnings this morning
The Dow Jones Industrial Average (INDEXDJX:DJI) is sitting deep in the red this morning, as Winter Storm Juno descends on the East Coast. Also, a number of companies reported lackluster earnings and/or guidance this morning -- including Dow components Caterpillar Inc. (NYSE:CAT), Procter & Gamble Co (NYSE:PG), and Pfizer Inc. (NYSE:PFE) -- creating headwinds. Looking ahead, a raft of economic data -- including durable goods orders -- will hit the Street this morning, while Apple Inc. (NASDAQ:AAPL) will lead a number of high-profile companies into the earnings confessional this evening.
And now, on to the numbers...
Futures on the Dow Jones Industrial Average 2 Minute (INDEXDJX:.DJI) are roughly 217 points below fair value.
Market Statistics
The Chicago Board Options Exchange (CBOE) saw 865,102 call contracts traded on Monday, compared to 568,997 put contracts. The resultant single-session equity put/call ratio edged down to 0.66, while the 21-day moving average remained at 0.66.
Currencies and Commodities
- The U.S. dollar index has dipped 0.2% at 94.62.
- Crude oil is off 0.1% at $45.09 per barrel.
- Gold appears ready to rebound, up 0.1% at $1,281.80 per ounce.
Earnings and Economic Data
Today's packed docket includes durable goods orders, the S&P/Case-Shiller home price index, new home sales, and the consumer confidence index. Additionally, the Federal Open Market Committee (FOMC) will begin its two-day policy setting meeting. 3M (MMM), AT&T (T), CAT, DuPont (DD), PFE, PG, United Technologies (UTX), AAPL, Yahoo (YHOO), AK Steel (AKS), American Airlines (AAL), Amgen (AMGN), Bristol-Myers Squibb (BMY), Coach (COH), Corning (GLW), Electronic Arts (EA), Freeport-McMoRan (FCX), Illumina (ILMN), Juniper Networks (JNPR), Lockheed Martin (LMT), Novartis AG (NVS), Peabody Energy (BTU), U.S. Steel (X), VMware (VMW), and Western Digital (WDC) will step into the earnings spotlight.
Overseas Trading
Asian bourses were split, as traders digested Greece's future in the eurozone and strength in U.S. equities. Japan's Nikkei soared, tacking on 1.7%, helped by a softer yen. Also finishing higher was South Korea's Kospi, which added 0.9%. However, Hong Kong's Hang Seng gave back 0.4%, taking its cue from China's Shanghai Composite -- which dropped 0.9% on news that industrial profits tumbled 8% year-over-year.
Stocks in Europe are pointed lower amid ongoing consternation over Greece's snap election results and a round of disappointing earnings. At midday, London's FTSE 100 is down 0.4% on a worse-than-anticipated gross domestic product (GDP) flash reading. Meanwhile, Germany's DAX and France's CAC 40 are 1.2% and 1.1% lower, respectively.
Unusual Put and Call Activity:
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