The Dow is Headed for Monthly Loss; GDP in Focus

All eyes are on the latest GDP data

Jan 30, 2015 at 8:25 AM
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The Dow Jones Industrial Average (INDEXDJX:DJI) is primed for a drop out of the gate, as investors brace for the advance reading on fourth-quarter gross domestic product (GDP) -- as well as a raft of other economic and earnings data. Among the companies releasing quarterly results this morning are Chevron Corporation (NYSE:CVX) and MasterCard Inc (NYSE:MA), the latter of which topped expectations. Meanwhile, the Dow will almost certainly end January south of breakeven -- its second straight monthly loss -- which could be a sign of things to come.

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 77 points below fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1.1 million call contracts traded on Thursday, compared to 902,777 put contracts. The resultant single-session equity put/call ratio jumped to 0.79, while the 21-day moving average edged up to 0.68.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index is down 0.2% at 94.60.
  • Crude oil has popped 0.8% to $44.89 per barrel.
  • Gold is up 0.6% at $1,264 per ounce.
Currencies and commodities

Earnings and Economic Data

Today's economic calendar includes the advance reading on fourth-quarter GDP, the employment cost index, the Chicago purchasing managers index (PMI), and the University of Michigan's consumer sentiment survey. AbbVie (ABBV), Altria Group (MO), Eli Lilly (LLY), ImmunoGen (IMGN), Ingersoll-Rand (IR), Mattel (MAT), Novo Nordisk (NVO), NuStar Energy (NS), Tyson Foods (TSN), Weyerhaeuser (WY), and Xerox (XRX) will release earnings.

Overseas Trading

Asian equities settled mostly lower, as traders digested the latest round of earnings and a small rebound in crude prices. China's Shanghai Composite dropped 1.6%, pressured by weakness among insurance firms and train makers. Hong Kong's Hang Seng followed suit, slipping 0.4%, while South Korea's Kospi edged 0.1% lower. The lone gainer was Japan's Nikkei, which tacked on 0.4%, as traders shrugged off a disappointing consumer price index reading for December.

European benchmarks are lower at midday, following data that signaled deeper deflation in January -- which overshadowed a slight retreat in December unemployment throughout the region. At last check, London's FTSE 100 is off 0.4%, the German DAX has given back 0.3%, and France's CAC 40 is 0.2% lower.

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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