Greek Bailout Buzz Boosts Dow Jones Industrial Average

The European Commission may be ready to offer Greece a temporary lifeline

by Alex Eppstein

Published on Feb 10, 2015 at 8:20 AM
Updated on Apr 20, 2015 at 5:32 PM

The Dow Jones Industrial Average (INDEXDJX:DJI) is pointed sharply higher ahead of the open, aided by rumors of a potential six-month extension for Greece's bailout program. Also promising to help the Dow recover from yesterday's nearly triple-digit loss are better-than-anticipated quarterly results from blue chip The Coca-Cola Co (NYSE:KO). In terms of economic data, today's session will be relatively light, highlighted by the Labor Department's Job Openings and Labor Turnover Survey (JOLTS) and a speech from Richmond Fed President Jeffrey Lacker.

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 99 points above fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 812,519 call contracts traded on Monday, compared to 611,411 put contracts. The resultant single-session equity put/call ratio rose to 0.75, 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 has added 0.2% at 94.66.
  • Crude oil is down 0.9% at $52.39 per barrel.
  • Elsewhere, gold has slipped 0.4% to trade at $1,236.90 per ounce.
Currencies and commodities

Earnings and Economic Data

Today's docket includes the Labor Department's JOLTS. Akamai Technologies (AKAM), Blue Nile (NILE), CVS Health (CVS), Dean Foods (DF), Genworth Financial (GNW), Kinross Gold (KGC), LifeLock (LOCK), Molson Coors Brewing (TAP), Monster Worldwide (MWW), Regeneron Pharmaceuticals (REGN), RetailMeNot (SALE), Reynolds American (RAI), Seattle Genetics (SGEN), SouFun Holdings (SFUN), Spirit Airlines (SAVE), Starwood Hotels (HOT), Talisman Energy (TLM), and Western Union (WU) will step into the earnings spotlight. To see what else is on this week's agenda, click here.

Overseas Trading

Stocks in Asia settled mixed, following China's weaker-than-expected inflation data for January, and amid ongoing concerns about Greece's debt situation. Japan's Nikkei gave back 0.3% as the yen strengthened, while South Korea's Kospi dropped 0.6% as retailers pulled back on disappointing department store sales. Conversely, China's Shanghai Composite popped 1.5% as the aforementioned inflation data raised expectations for additional stimulus measures. Lastly, Hong Kong's Hang Seng was virtually unchanged.

European bourses are mostly higher around midday, amid rumors the European Commission could extend Greece's bailout program for six months -- and ahead of tomorrow's emergency meeting of eurozone finance ministers in Brussels. At last check, the German DAX and French CAC 40 are up 0.8% and 1.2%, respectively. London's FTSE 100 is down 0.1%.

Overseas markets

Unusual Put and Call Activity:

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Unusual options activity - puts

Unusual options activity - calls

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