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The Dow is fighting to stay in the black on the week and year
Futures on the Dow Jones Industrial Average (INDEXDJX:DJI) are pointed slightly lower ahead of the open, after the index erased its 2015 losses yesterday with a triple-digit gain. While there won't be much in the way of earnings numbers for investors today, they will have the producer price index (PPI) and the Thomson Reuters/University of Michigan consumer sentiment index to digest. Against this backdrop, both the Dow and S&P 500 Index (SPX) could struggle to maintain their hard-earned year-to-date gains.
And now, on to the numbers...
Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are about 39 points below fair value.
Market Statistics
The Chicago Board Options Exchange (CBOE) saw 947,977 call contracts traded on Thursday, compared to 618,462 put contracts. The resultant single-session equity put/call ratio dropped to 0.65, while the 21-day moving average fell to 0.62.
Currencies and Commodities
- The U.S. dollar index has added 0.1% to hit 99.57.
- Crude oil is 1% lower at $48.63 per barrel.
- Gold is up 0.3% at $1,155.50 per ounce.
Earnings and Economic Data
Closing out the week's economic news is the PPI, along with the Thomson Reuters/University of Michigan consumer sentiment index. Ann Inc (ANN) will round out the earnings docket. To see what is coming up on next week's agenda, click here.
Overseas Trading
Asian benchmarks soared higher on Friday. Starting in Japan, the Nikkei finished 1.4% higher, and hit a nearly 15-year high as a softer yen supported blue chips. Also making gains was China's Shanghai Composite, which added 0.7% to settle at a six-week peak. In South Korea, the Kospi was able to finish positive for the first time this week, closing 0.8% higher, with Hong Kong's Hang Seng also clawing its way into positive territory, with an advance of 0.1%.
Things aren't so sunny in Europe, where indexes are slightly lower at midday after German Finance Minister Wolfgang Schaeuble told Australian media he couldn't rule out the possibility of Greece accidentally exiting the eurozone. At last check, London's FTSE 100 was off 0.2%, the French CAC 40 was down 0.04%, and Germany's DAX had dropped 0.02%.
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.