Dow Jones Futures Up on Blue-Chip Earnings

The Dow Jones Industrial Average (DJIA) is signaling a positive start to the day, as traders digest a raft of earnings data. In particular, blue chips JPMorgan Chase & Co. (NYSE:JPM) and Johnson & Johnson (NYSE:JNJ) are in the spotlight this morning, with both companies reporting better-than-expected numbers. Also due out are March retail sales, the producer price index (PPI), and business inventories, while New York Fed President William Dudley is scheduled to speak. Overseas, traders are jittery ahead of tomorrow's European Central Bank (ECB) rate decision and the latest growth data out of China.

• While speculators have been betting bullishly ahead of earnings from Bank of America Corp (NYSE:BAC) and Wells Fargo & Co (NYSE:WFC), history suggests this may be dangerous.
• This threat from the Chinese government devastated SINA Corp (NASDAQ:SINA).
• Short-term traders wagered on fresh highs for Starbucks Corporation (NASDAQ:SBUX).

Futures on the Dow Jones Industrial Average (DJIA) are roughly 9 points above fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 865,840 call contracts traded on Monday, compared to 512,653 put contracts. The resultant single-session equity put/call ratio jumped to 0.59, while the 21-day moving average held at 0.65.

Currencies and Commodities

• The U.S. dollar index is just 0.01% lower at 99.49.
• Crude oil has added 0.8% to trade at $54.15 per barrel.
• Gold has retreated 1% at $1,187.10 per ounce, moving further south of the key $1,200 level.

Earnings and Economic Data

Retail sales, the PPI, and business inventories will be released today. Stepping up to the earnings plate will be Intel (INTC), CSX Corporation (CSX), Fastenal (FAST), and WFC. To see what else is on this week's agenda, click here.

Overseas Trading

Asian bourses were mixed, as traders took profits ahead of China's gross domestic product (GDP) report and earnings from a number of major U.S. companies. South Korea's Kospi added 0.6% to topple 2,100 for the first time in almost four years, China's Shanghai Composite edged 0.3% higher for a fresh seven-year high, and Japan's Nikkei eked out a 0.02% win. However, Hong Kong's Hang Seng cooled off, finishing 1.6% lower.

Stocks in Europe are mostly lower around midday, with traders on edge amid a raft of earnings reports, and ahead of tomorrow's European Central Bank (ECB) rate decision. The French CAC 40 and German DAX are both off 0.3%. Conversely, London's FTSE 100 has tacked on 0.3%.

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