Dow Jones Industrial Average Signals a Strong Start to May

Why These 3 Nasdaq Names are Ones to Watch

May 1, 2015 at 8:29 AM
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The Dow Jones Industrial Average (DJIA) is looking to start May on the right foot -- and bounce back from Thursday's sharp sell-off -- with futures pointed solidly higher ahead of the bell. However, the blue-chip barometer -- and its broad-market counterparts -- are still on pace to settle the week in the red. The week's deluge of data will conclude with updates on auto sales, manufacturing, consumer sentiment, and construction spending. Additionally, speeches from a pair of Federal Reserve officials are slated throughout the day. Meanwhile, traders will be keeping one eye trained on the dollar, which is trading at a two-month low versus the euro.

Continue reading for more on today's market, including:

And now, on to the numbers…


Futures on the Dow Jones Industrial Average (DJIA) are more than 79 points above fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1.04 million call contracts traded on Thursday, compared to 751,906 put contracts. The resultant single-session equity put/call ratio jumped to 0.72, while the 21-day moving average moved up to 0.64.



Currencies and Commodities

  • The U.S. dollar index is sticking close to the flatline, last seen at 94.60.
  • Crude oil is down 0.2% at $59.52 per barrel.
  • Gold is 0.2% lower at $1,179.80 per ounce.


Earnings and Economic Data

Motor vehicle sales, Markit's purchasing managers index (PMI), the Institute for Supply Management's (ISM) manufacturing index, the Thomson Reuters/University of Michigan consumer sentiment index, and construction spending close out the week. Chevron (CVX), CVS Health (CVS), Momenta Pharmaceuticals (MNTA), Moody's (MCO), VF Corp (VFC), and Weyerhaeuser (WY) will report earnings. To see what's on next week's agenda, click here.

Overseas Trading

It was a low-volume session in Asia today, with markets in China, Hong Kong, and South Korea closed for holiday. Japan's Nikkei, meanwhile, eked out a 0.06% gain, as traders digested a bigger-than-forecast rise in consumer prices, a slimmer-than-expected drop in household spending, and a slight decline in the country's unemployment rate.

A number of European markets are closed today, as well, including those in Germany and France. However, London's FTSE 100 was last seen up 0.2%, as a rally in mining stocks in the wake of upbeat manufacturing data from China offsets weak U.K. factory figures.


Unusual Put and Call Activity




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