Dow Jones Industrial Average Looks for Third Straight Win; Crude Cools

A skeptical note from Goldman Sachs is weighing on oil futures

by Alex Eppstein

Published on Apr 7, 2015 at 8:25 AM
Updated on Apr 20, 2015 at 5:32 PM

The Dow Jones Industrial Average (DJIA) is primed to build on yesterday's positive momentum -- following its overseas peers into the black -- as it seeks a third consecutive daily win. Traders have one eye trained on crude -- which surged on Monday, but has given back ground after skeptical comments from Goldman Sachs -- and are also looking ahead to tomorrow's release of the Federal Open Market Committee (FOMC) meeting minutes, as well as the unofficial start to earnings season. Among specific equities, Informatica Corporation (NASDAQ:INFA) is surging ahead of the bell, after agreeing to be taken private by a consortium of private-equity investors for $5.3 billion.

And now, on to the numbers...

Dow Jones Industrial Average, S&P and Nasdaq futures

Futures on the Dow Jones Industrial Average (DJIA) are about 49 points above fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 773,281 call contracts traded on Monday, compared to 383,367 put contracts. The resultant single-session equity put/call ratio plunged to 0.50, while the 21-day moving average edged down to 0.66.

NYSE and Nasdaq summary

Volatility indices

Currencies and Commodities

  • The U.S. dollar index is up 0.7% to 97.45.
  • Crude oil has given back 0.8% to trade at $51.73 per barrel.
  • Gold is down 0.5% at $1,212.00 per ounce.
Currencies and commodities

Earnings and Economic Data

The Labor Department's Job Openings and Labor Turnover Survey (JOLTS) comes out today, while Minneapolis Fed President Narayana Kocherlakota is slated to give a speech in North Dakota. Dave & Buster's (PLAY), Greenbrier (GBX), and Schnitzer Steel (SCHN) are scheduled to report earnings. To see what else is on this week's agenda, click here.

Overseas Trading

Asian markets finished higher amid a raft of central bank developments. Specifically, the central banks of Australia and India each left interest rates as-is, while the Bank of Japan -- which is expected to maintain its accommodative stance -- commenced its two-day meeting. By day's end, China's Shanghai Composite was the biggest gainer -- up 2.5% to seven-year-high territory. Elsewhere, Japan's Nikkei added 1.3%, and South Korea's Kospi inched 0.03% higher. Markets in Hong Kong remain closed for holiday.

European bourses resumed trading today after a long Easter weekend, and are solidly higher as U.S. rate-hike fears recede. Also contributing to optimism is M&A activity, including FedEx Corporation's (NYSE:FDX) offer to buy Netherlands-based TNT Express -- sending shares of the latter 30% higher. At last check, London's FTSE 100 is up 1.5%, France's CAC 40 is 1.6% higher, and the German DAX has tacked on 1.1%.

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

A Schaeffer's exclusive

6 Sectors for Summer

Access your FREE insider report before it's too late!



NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories

Huge New Legal Marijuana Market Has Shortage Crisis
250 million Europeans have access to medical marijuana. There's already a shortage....
Tiffany Stock Drops as Takeover Talks Dissipate
LVMH was to acquire Tiffany & Co in a billion-dollar deal
Coty Stock Glows Up with Possible Kardashian Cosmetics Line
The trendy cosmetics company is in talks with reality TV star Kim Kardashian West over a line of beauty products
The Next Big Player in U.S. MJ Boom
Most pure-play marijuana stocks in the U.S. trade on the Over-the-Counter stock exchange.