Dow Jones Industrial Average Cools Ahead of Bank Earnings

China reported much weaker-than-expected trade data

Apr 13, 2015 at 8:17 AM

DJIA
JPM
BAC
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The Dow Jones Industrial Average (DJIA) looks like it's ready to take a breather after ending last Friday on a nearly triple-digit gain, with futures in the red this morning. The risk-off attitude comes on the heels of disappointing Chinese trade data, and ahead of a number of key earnings reports due out later this week -- especially among financial names. In particular, JPMorgan Chase & Co. (NYSE:JPM), Wells Fargo & Co (NYSE:WFC), Bank of America Corp (NYSE:BAC), and Citigroup Inc (NYSE:C) will hit the confessional in the days ahead -- though today's calendar is relatively quiet.

M&A buzz took the Street by storm, following big news from this blue chip and notable financial firm.
Why more downside could be ahead for these two slumping semiconductor stocks.
Barclays took a cautious stance on this software giant and its sector peer.

And now, on to the numbers...

Dow Jones Industrial Average, S&P and Nasdaq futures

Futures on the Dow Jones Industrial Average 2 Minute (DJIA) are nearly 28 points below fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 984,782 call contracts traded on Friday, compared to 531,953 put contracts. The resultant single-session equity put/call ratio dropped to 0.54, while the 21-day moving average edged down to 0.65.

Currencies and Commodities

The U.S. dollar index is 0.6% higher at 99.96.
Crude oil is up 1.1% at $54.11 per barrel.
Gold has given back 0.5% at $1,199.20 per ounce.

Earnings and Economic Data

There are no economic reports on today's docket. Pep Boys-Manny Moe and Jack (PBY) will tell all in the earnings confessional. To see what else is on this week's agenda, click here.

Overseas Trading

Stocks in Asia largely rallied, as traders dismissed the World Bank's downgraded regional growth forecast for 2015 and 2016. Hong Kong's Hang Seng was the biggest gainer, up 2.7% to flirt with seven-year highs. China's Shanghai Composite also finished on a solid 2.2% lead, as weaker-than-anticipated trade data sparked hopes of additional stimulus measures. Meanwhile, South Korea's Kospi added 0.5%, while Japan's Nikkei ended a hair below breakeven, after struggling to hurdle the psychologically significant 20,000 level.

European benchmarks are little changed around midday, as traders digest China's trade data and concerns about Greece's ability to address its debt. The French CAC 40 and German DAX are each fractionally higher, while London's FTSE 100 has retreated 0.4%.

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.

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