Dow Jones Industrial Average Wobbles Ahead of Data Deluge

Several key Fed officials will give speeches today

Feb 27, 2015 at 8:34 AM
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The Dow Jones Industrial Average (INDEXDJX:DJI) is sitting just south of breakeven, as traders brace for a raft of economic data and speeches by a number of central bank officials. The session's docket is highlighted by the preliminary fourth-quarter gross domestic product (GDP), followed by the latest reading on consumer sentiment. Meanwhile, Fed Vice Chair Stanley Fischer and others will take to the podium at a monetary policy forum in New York. On the commodities front, crude will attempt to recover from yesterday's drubbing, with early gains in futures pointing to a possible challenge of the $50 level in today's session.

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 more than 8 points below fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1.14 million call contracts traded on Thursday, compared to 744,545 put contracts. The resultant single-session equity put/call ratio edged up to 0.65, while the 21-day moving average dipped to 0.62.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index is 0.2% lower to 95.07.
  • Crude oil is poised to rebound from yesterday's loss, up 1.6% to trade at $48.94 per barrel.
  • Gold is off 0.1% at $1,208.40 per ounce.
Currencies and commodities

Earnings and Economic Data

The preliminary fourth-quarter GDP hits the Street today. Also on the agenda are pending home sales, the Chicago purchasing managers index (PMI), and the Thomson Reuters/University of Michigan consumer sentiment index. More remarks on monetary policy could impact markets, with Fischer, New York Fed President William Dudley, and Cleveland Fed President Loretta Mester all slated to speak at a forum in New York. Rounding out the week's slate of earnings reports are Goodrich Petroleum (GDP), ISIS Pharmaceuticals (ISIS), and NRG Energy (NRG). To see what's on next week's agenda, click here.

Overseas Trading

Asian markets closed the week on a mixed note, though Japan's Nikkei finished just above the flatline for yet another 15-year high. Meanwhile, the nation's consumer price index (CPI) showed signs of cooling inflation, a potential precursor to additional stimulus measures. Elsewhere, China's Shanghai Composite rose 0.4%, as a weaker yuan offset weakness in the financial sector. On the negative side of the ledger were Hong Kong's Hang Seng and South Korea's Kospi, which gave back 0.3% and 0.4%, respectively.

European indexes are mixed around midday, following news that German lawmakers have given the green light to extending Greece's bailout. However, traders are playing it safe ahead of today's U.S. GDP release and German inflation data. London's FTSE 100 is 0.2% lower, while France's CAC 40 and Germany's DAX have added 0.3% and 0.1%, respectively.

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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