Dow is Set to Kick Off February on a High Note

Crude is trading higher on reports of a possible refinery strike

Feb 2, 2015 at 8:24 AM
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After logging its biggest monthly drop in a year, the Dow Jones Industrial Average (INDEXDJX:DJI) is poised to start February off on a strong note. In focus today will be earnings from blue chip Exxon Mobil Corporation (NYSE:XOM) -- which is up following its fourth-quarter beat -- as well as updates on personal income and outlays, manufacturing activity, and construction spending. Additionally, crude oil should garner its fair share of attention, with futures signaling a higher start amid rumors of a potential refinery strike. Meanwhile, traders will be keeping one eye trained on Greece, as the new left-wing government looks to reverse the country's austerity program.

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 53 points above fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1.1 million call contracts traded on Friday, compared to 757,868 put contracts. The resultant single-session equity put/call ratio fell to 0.68, while the 21-day moving average remained at 0.68.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index is down 0.1% at 94.75.
  • Crude oil is poised to extend Friday's upward momentum, and was last seen 0.7% higher at $48.57 per barrel.
  • Gold, meanwhile, is 0.3% lower at $1,275.60 per ounce.
Currencies and commodities

Earnings and Economic Data

The first week of February kicks off with personal income and spending data, the Markit purchasing managers' manufacturing index (PMI), the Institute for Supply Management's (ISM) manufacturing index, and construction spending. XOM, Advent Software (ADVS), Cliffs Natural Resources (CLF), Hartford Financial (HIG), Owens-Illinois (OI), Pitney Bowes (PBI), and Sysco (SYY) will release earnings. To see what else is on this week's agenda, click here.

Overseas Trading

Most Asian benchmarks finished lower today, following a worse-than-expected reading on Chinese manufacturing, as well as a fresh round of initial public offerings. By the close, China's Shanghai Composite was down 2.5%, Japan's Nikkei had shed 0.7%, and Hong Kong's Hang Seng was off 0.1%. South Korea's Kospi managed to buck the regional bearish bias to add 0.2%, despite a drop in the country's December account surplus.

European markets are higher at midday, amid a rebound in crude oil and a batch of well-received earnings reports. At last check, the German DAX is up 0.4%, the London FTSE 100 is flirting with a 0.2% lead, while the French CAC 40 is 0.1% higher.

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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