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Greece's Finance Minister is attempting to work with the country's creditors
The Dow Jones Industrial Average (INDEXDJX:DJI) is poised for another day of gains, with futures pointed comfortably higher ahead of the bell. Helping to prop up investor sentiment is a new round of proposals from Greek Finance Minister Yanis Varoufakis to help tackle the country's debt issues, as well as an extended rebound in crude oil. Additionally, traders will be digesting the latest round of earnings reports -- including one from United Parcel Service, Inc. (NYSE:UPS) -- as well as updates on car sales and factory orders. Meanwhile, St. Louis Fed President James Bullard is slated to take the podium at 10 a.m. ET.
And now, on to the numbers...
Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are 44 points above fair value.
Market Statistics
The Chicago Board Options Exchange (CBOE) saw 776,991 call contracts traded on Monday -- the fewest since Dec. 30 -- compared to 590,705 put contracts. The resultant single-session equity put/call ratio jumped to 0.76, while the 21-day moving average edged down to 0.67.
Currencies and Commodities
- The U.S. dollar index is slightly lower at 94.48.
- Crude oil is 2.4% higher at $50.77 per barrel.
- Gold, meanwhile, is down 0.1% at $1,275.50 per ounce.
Earnings and Economic Data
Today's docket includes motor vehicle sales and factory orders. Walt Disney Co (NYSE:DIS), BP (BP), Chipotle (CMG), Aetna (AET), Arch Coal (ACI), Archer Daniels Midland (ADM), Array Biopharma (ARRY), Gannett (GCI), Gilead Sciences (GILD), IAC/InterActiveCorp (IACI), Myriad Genetics (MYGN), National-Oilwell Varco (NOV), New York Times (NYT), Take-Two Interactive Software (TTWO), and UPS will step into the earnings spotlight. To see what else is on this week's agenda, click here.
Overseas Trading
Asian markets finished mixed today. On the plus side, China's Shanghai Composite surged 2.5% thanks to a rally in financial and energy names, while Hong Kong's Hang Seng rose 0.3%. Elsewhere, Japan's Nikkei retreated 1.3% on the back of a strengthening yen, while South Korea's Kospi settled with a 0.04% loss.
European markets are in rally mode at midday. Helping boost today's price action is a pop in the energy and mining sectors, with the latter up following a widely expected interest-rate cut by the Bank of Australia. Additionally, investors are taking a glass-half-full approach to a fresh round of proposals put forth by Greece's new finance minister, Yanis Varoufakis, to end the country's dispute with creditors. Against this backdrop, the French CAC 40 is up 1.2%, while the German DAX is flirting with a 1% gain and London's FTSE 100 is 1.1% higher.
Unusual Put and Call Activity:
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