Dow Jones Industrial Average Futures Plummet As Bond Prices Drop

Dow Futures Fall Triple Digits; Plus, Why Stocks Could Heat Up This Summer

May 12, 2015 at 8:39 AM
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Futures on the Dow Jones Industrial Average (DJIA) are heading south ahead of the open, furthering yesterday's slide, as bond yields continue to climb. There's not a lot on the economic calendar to distract investors today, aside from the Labor Department's Job Openings and Labor Turnover Survey and the latest Treasury budget. There has been, however, some early M&A news, as blue chip Verizon Communications Inc. (NYSE:VZ) announced plans to buy AOL, Inc. (NYSE:AOL) for over $4 billion.

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

And now, on to the numbers…

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Futures on the Dow Jones Industrial Average (DJIA) are 145.2 points below fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 724,288 call contracts traded on Monday, compared to 439,172 put contracts. The resultant single-session equity put/call ratio moved up to 0.61, while the 21-day moving average stayed at 0.64.

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Currencies and Commodities

  • The U.S. dollar index is off 0.7% at 94.39.
  • Crude oil is 1.8% higher at $61.38 per barrel.
  • Gold is up 0.9% at $1,193.50 an ounce.

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Earnings and Economic Data

Hitting the Street today is the Labor Department's Job Openings and Labor Turnover Survey (JOLTS), as well as the Treasury budget. Reporting earnings are GoDaddy (GDDY), Vivint Solar (VSLR), and Zillow (Z). To see what else is on this week's agenda, click here.

 

Overseas Trading

 

Asian markets were a mixed bag today. China's Shanghai Composite continued to rally, thanks to the recent interest rate reduction, adding 1.6%. Elsewhere, Japan's Nikkei managed a 0.02% win, while South Korea's Kospi and Hong Hong's Hang Seng dropped 0.03% and 1.1%, respectively. 

Amid a slew of earnings reports and the ongoing talks surrounding Greece's bailout deal, European stocks are lower around midday. Germany's DAX is leading the losers with a 1.8% decline, but London's FTSE 100 isn't too far behind, giving back 1.6%. France's CAC 40, meanwhile, is down 1.3%. 

 

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Unusual Put and Call Activity

 

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