Dow Jones Industrial Average Poised to Extend Gains Ahead of Earnings

Can Stocks Jump the Low Earnings Bar?

by Josh Selway

Published on Apr 21, 2015 at 9:02 AM
Updated on Apr 21, 2015 at 9:27 AM

Futures on the Dow Jones Industrial Average (DJIA) are pointed higher, ready to extend Monday's triple-digit gains with a slew of earnings on tap from high-profile companies. Also similar to yesterday, the economic calendar is rather bare, with no notable reports being released until tomorrow's crude inventory reports.

And now, on to the numbers...

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Futures on the Dow Jones Industrial Average (DJIA) are 73.1 points above fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 991,351 call contracts traded on Monday, compared to 553,385 put contracts. The resultant single-session equity put/call ratio fell to a six-day low of 0.56, while the 21-day moving average fell to 0.63.

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Currencies and Commodities

  • The U.S. dollar index is up 0.2% at 98.14.
  • Crude oil is down 0.6% to trade at $57.54 per barrel.
  • Gold is up 0.5% at $1,199.50 per ounce.

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Earnings and Economic Data

Today's economic calendar is relatively empty. Telling all in the confessional are DuPont (DD), Travelers Companies (TRV), United Technologies (UTX), Verizon Communications (VZ), Broadcom (BRCM), Chipotle Mexican Grill (CMG), Under Armour (UA), Yahoo! (YHOO), Amgen (AMGN), Arch Coal (ACI), ARM Holdings (ARMH), Baker Hughes (BHI), Brinker International (EAT), Cree (CREE), Discover Financial Services (DFS), Fifth Third (FITB), Harley-Davidson (HOG), Kimberly-Clark (KMB), Lockheed Martin (LMT), TD Ameritrade (AMTD), VMware (VMW), and Yum! Brands (YUM). To see what else is on this week's agenda, click here.

Overseas Trading

Stocks in Asia surged higher, following suit with U.S. equities after the People's Bank of China lowered its reserve requirement ratio. China's Shanghai Composite closed at a seven-year high, adding 1.8%. Japan's Nikkei added 1.4%, while Hong Kong's Hang Seng outdid them all by advancing 2.8%. South Korea's Kospi was on the outside looking in, dropping 0.1%.

European bourses are mixed at midday, with investors digesting a mixed bag of earnings, a drop in German investor sentiment, and soaring Greek bond yields. Germany's DAX has made the biggest move by picking up 0.5%. France's CAC 40 is hovering just above breakeven on the day, with London's FTSE 100 just 0.1% lower at last check.

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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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