Dow Finds Footing as Earnings Season Accelerates

Alibaba Group Holding Ltd (BABA) is sinking on disappointing quarterly sales

Jan 29, 2015 at 8:23 AM
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The Dow Jones Industrial Average (INDEXDJX:DJI) is pointed slightly higher in pre-market trading -- attempting to find a footing after a nearly 200-point drubbing -- as traders continue to digest yesterday's Federal Open Market Committee (FOMC) policy announcement and a raft of quarterly reports. Among the biggest names on the earnings front this morning are Alibaba Group Holding Ltd (NYSE:BABA) -- which is getting hammered on underwhelming revenue data -- and Ford Motor Company (NYSE:F), which topped estimates. Meanwhile, Amazon.com, Inc. (NASDAQ:AMZN), Google Inc (NASDAQ:GOOGL), and Visa Inc (NYSE:V) are among the companies divulging results this evening.

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 13 points above fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1.2 million call contracts traded on Wednesday, compared to 830,467 put contracts. The resultant single-session equity put/call ratio dropped to 0.67, while the 21-day moving average remained at 0.67.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index is up 0.2% at 94.64.
  • Crude oil has gained 0.3% to trade at $44.58 per barrel.
  • Gold is headed lower again, down 1.3% at $1,269.90 per ounce.
Currencies and commodities

Earnings and Economic Data

Weekly jobless claims and pending home sales are slated for release today. V, AMZN, GOOGL, B/E Aerospace (BEAV), Blackstone (BX), Broadcom (BRCM), Celgene (CELG), Colgate-Palmolive (CL), ConocoPhillips (COP), Deckers Outdoor (DECK), Dow Chemical (DOW), Gigamon (GIMO), Harley-Davidson (HOG), hhgregg (HGG), InvenSense (INVN), JDS Uniphase (JDSU), JetBlue Airways (JBLU), Microchip Technology (MCHP), NetSuite (N), Nokia (NOK), Potash Corp./Saskatchewan (POT), PulteGroup (PHM), QLogic (QLGC), Ryland (RYL), Sherwin-Williams (SHW), Stanley Black & Decker (SWK), Thermo Fisher Scientific (TMO), Time Warner Cable (TWC), and Viacom (VIAB) will step into the earnings confessional.

Overseas Trading

Stocks in Asia fell on a round of disappointing earnings, as well as sinking oil prices -- exacerbated by the U.S. supply glut. China's Shanghai Composite retreated 1.3% on reports that 46 financial firms will be investigated by regulators. Meanwhile, Hong Kong's Hang Seng and Japan's Nikkei each shed 1.1%, with the latter getting hit by weaker-than-expected retail sales growth in December. South Korea's Kospi gave back 0.5%, as well.

European indexes are mixed, as investors digest the latest FOMC policy statement and the ongoing energy swoon. The German DAX is unchanged, following a slight decrease in this month's unemployment rate, relative to December. Elsewhere, London's FTSE 100 and France's CAC 40 are down 0.3% and up 0.3%, respectively. Also of note, a number of European officials will gather today to discuss the ongoing unrest in Ukraine.

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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