Dow Jones Industrial Average Puts 18K to the Test

Why Piper Jaffray is Watching This Drugmaker

by Karee Venema

Published on Apr 30, 2015 at 8:33 AM
Updated on Apr 30, 2015 at 8:41 AM

The Dow Jones Industrial Average (DJIA) is on pace to extend Wednesday's losses -- induced by lackluster domestic growth data and uncertainty over a Fed rate hike -- and test its might atop the 18,000 mark. However, the blue-chip barometer is still holding a commanding lead on the month. It's a similar set-up with the broader S&P 500 Index (SPX), which is also lower ahead of the bell, but poised to continue its historically bullish April trend. Meanwhile, it will be another busy day on the Street, with updates on employment, inflation, and regional business activity due. Additionally, earnings season continues to rage on, while an early morning speech from Fed Governor Daniel Tarullo could garner some attention.

And now, on to the numbers...

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Futures on the Dow Jones Industrial Average (DJIA) are more than 29 points below fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1.07 million call contracts traded on Wednesday, compared to 733,279 put contracts. The resultant single-session equity put/call ratio jumped to 0.69, while the 21-day moving average stayed at 0.63.

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Currencies and Commodities

  • The U.S. dollar index is down 0.4% at 94.84.
  • Crude oil is on pace to notch another 2015 high, up 1% at $59.14 per barrel.
  • Gold, meanwhile, is 0.6% lower at $1,202.50 per ounce.

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Earnings and Economic Data

We'll see data on weekly jobless claims, personal income and spending, the employment cost index (ECI), and the Chicago purchasing managers index (PMI) today. Slated to release earnings are Exxon Mobil (XOM), Visa (V), LinkedIn (LNKD), Nokia (NOK), Potash Corp./Saskatchewan (POT), SunPower (SPWR), AgnicoEagle Mines (AEM), Alpha Natural Resources (ANR), Avon Products (AVP), Ball Corporation (BLL), Beazer Homes (BZH), Celgene (CELG), CME Group (CME), Colgate-Palmolive (CL), ConocoPhillips (COP), Cypress Semiconductor (CY), Delphi Automotive (DLPH), Dreamworks (DWA), Expedia (EXPE), FireEye (FEYE), First Solar (FSLR), Gilead Sciences (GILD), Goldcorp (GG), Mosaic (MOS), QLogic (QLGC), Ruckus Wireless (RKUS), Shire (SHPG), Skyworks Solutions (SWKS), Sony (SNE), TASER International (TASR), Teva Pharmaceutical (TEVA), Time Warner Cable (TWC), Viacom (VIAB), Virgin America (VA), Western Union (WU), and World Wrestling Entertainment (WWE). In addition, Tesla Motors (TSLA) is set to launch its highly anticipated new line of batteries after the close. To see what else is on this week's agenda, click here.

Overseas Trading

Asian markets took cues from their U.S. counterparts to close in the red. Japan's Nikkei returned from holiday to surrender 2.7%, as a round of uninspiring earnings and the Bank of Japan's decision to maintain its current monetary policy overshadowed stronger-than-forecast industrial production data. Elsewhere, Hong Kong's Hang Seng gave back 0.9%, China's Shanghai Composite lost 0.8%, and South Korea's Kospi ended 0.7% lower.

European benchmarks are mixed at midday, as traders digest data showing the eurozone snapped a four-month deflation streak, as well as the latest round of earnings. At last check, the German DAX is up 0.3% despite a worse-than-expected reading on jobless claims, while the French CAC 40 is off 0.3% and London's FTSE 100 is hovering 0.05% below breakeven.

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Unusual Put and Call Activity

Due to technical issues, the Unusual Put and Call Activity charts are unavailable today. We apologize for any inconvenience.


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