Dow (DJI) Eyes a Rebound; Crude at Six-Year Lows

Crude oil is in six-year-low territory

Mar 16, 2015 at 8:23 AM
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Despite crude oil plumbing six-year lows, the Dow Jones Industrial Average (INDEXDJX:DJI) is poised to bounce back from last week's drubbing, with the blue-chip index set to follow its overseas counterparts into the black. Stocks in China and Germany assailed new heights, with the former rallying on fresh stimulus hopes, and the latter capitalizing on an ailing euro. Meanwhile, other central banks will be in focus this week, including the Bank of Japan (BoJ) and U.S. Federal Reserve, both slated for two-day policy meetings. In the meantime, traders are poised to digest reports on New York-area manufacturing, industrial production, and the real estate market.

And now, on to the numbers...

Dow Jones Industrial Average, S&P and Nasdaq futures

Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) were about 59 points above fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 884,064 call contracts traded on Friday, compared to 706,676 put contracts. The resultant single-session equity put/call ratio soared to 0.80, while the 21-day moving average jumped to 0.63.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index has edged 0.4% lower to 99.94.
  • Crude oil is 1.2% lower at $46.52 per barrel, after earlier dipping below $44 for the first time in six years.
  • Gold is up 0.3% at $1,155.30 per ounce.
Currencies and commodities

Earnings and Economic Data

The week kicks off with the Empire State manufacturing survey, as well as industrial production and capacity utilization figures, and the National Association of Home Builders (NAHB) housing market index. Molycorp (MCP), Inovio Pharmaceuticals (INO), and MagicJack VocalTec (CALL) will report earnings. To see what else is on this week's agenda, click here.

Overseas Trading

Stocks in Asia finished mostly higher, with the Shanghai Composite rallying 2.2% to end at a five-year high, thanks to China's pledge to bolster the economy. Elsewhere, Hong Kong's Hang Seng added 0.5%, while South Korea's Kospi ticked 0.1% higher. After touching a fresh 15-year peak in intraday action, Japan's Nikkei backpedaled to a 0.04% loss ahead of the BoJ policy statement.

A weak euro helped the German DAX topple 12,000 for the first time, with the index last seen 1.2% higher. Meanwhile, London's FTSE 100 was up 0.5% at midday, while France's CAC 40 is on pace for a 0.7% gain.

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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