Dow Jones Industrial Average Pulls Back; AAPL Climbs

The Dow Jones Industrial Average (DJIA) is poised to pull back after Wednesday's big Fed-influenced rally, with futures pointed modestly lower. On the economic front, traders will digest the latest weekly jobless claims, as well as the Philadelphia Fed's manufacturing index. Additionally, Fed Governor Daniel Tarullo will take the stage later this morning, while Dallas Fed President Richard Fisher bids adieu to the central bank. Among stocks to watch, Apple Inc. (NASDAQ:AAPL) will join the DJIA today, and shares of the tech titan are up about 0.2% ahead of the big debut.

• This financial firm was dealt another fundamental blow, and options traders responded in kind.
• A Food and Drug Administration (FDA) nod sent Retrophin Inc (NASDAQ:RTRX) soaring, while disappointing data had its sector peer tumbling.
• Schaeffer's contributor Adam Warner breaks down this year's bracket odds -- as well as his preferred strategy. (Also, don't forget to keep an eye on these 3 stocks during the Big Dance.)

Futures on the Dow Jones Industrial Average (DJIA) are about 13 points below fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 979,088 call contracts traded on Wednesday, compared to 639,101 put contracts. The resultant single-session equity put/call ratio fell to 0.65, while the 21-day moving average stayed at 0.64.

Currencies and Commodities

• The U.S. dollar index is up 0.2% at 98.76.
• Crude oil is on pace to erase all of Wednesday's Fed-induced gains, off 2.9% at $45.30 per barrel.
• Gold, meanwhile, is 1.1% higher at $1,163.90 per ounce.

Earnings and Economic Data

Weekly jobless claims and the Philadelphia Fed survey will be released today. Nike (NKE) and Lennar (LEN) will tell all in the earnings confessional.

Overseas Trading

Most Asian benchmarks followed in their U.S. counterparts higher today, thanks to the Federal Reserve's cautious stance on raising interest rates. Hong Kong's Hang Seng rallied 1.5%, China's Shanghai Composite added 0.2% to extend its daily winning streak to seven, and South Korea's Kospi rose 0.5%. Japan's Nikkei sat out the day's uptrend, though, shedding 0.4% on the back of a strengthening yen.

European markets are enjoying modest gains at midday, buoyed by the outcome of Wednesday's Federal Open Market Committee (FOMC) meeting. However, traders are keeping a cautious eye trained on a European Union (EU) summit, where the fiscal state of Greece will be a hot topic. At last check, the French CAC 40 is up 0.2%, London's FTSE 100 is flirting with a 0.1% lead, and the German DAX is 0.02% higher.

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