Dow Jones Industrial Average Eyes Another Weekly Win

The Biotech Feat That Opened the Bullish Floodgates

May 15, 2015 at 8:32 AM
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For the second week in a row, the Dow Jones Industrial Average (DJIA) is looking for a big end-of-week finish, with futures pointed to a higher open. U.S. equities could be getting a boost from across the pond, where European Central Bank (ECB) President Mario Draghi said the bank will continue buying bonds for "as long as needed." After data from yesterday boosted stocks to record levels, traders will have several reports to consider once again. As it stands now, the Dow, Nasdaq Composite (COMP), and S&P 500 Index (SPX) are all on pace to close the week higher. 

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 nearly 29 points above fair value. 

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 907,237 call contracts traded on Thursday, compared to 542,668 put contracts. The resultant single-session equity put/call ratio rose to 0.60, while the 21-day moving average stayed at 0.64.

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Currencies and Commodities

  • The U.S. dollar index is 0.4% higher at 93.80
  • Crude oil has dropped 0.5% to $60.53 per barrel. 
  • Gold is down 0.9% at $1,214.10 per ounce. 

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Earnings and Economic Data

The week closes out with the Empire State manufacturing survey, industrial production and capacity utilization, the Thomson Reuters/University of Michigan consumer sentiment index, and Treasury International Capital (TIC) data. There are no notable earnings reports scheduled. To see what's on next week's agenda, click here

Overseas Trading

Stocks in Asia finished mixed to end the week. Leading the way was Hong Kong's Hang Seng, which added 2%, with Japan's Nikkei closing with a 0.8% gain. Conversely, China's Shanghai Composite dropped 1.6%, despite reassuring words from regulators about the impact the recent influx of IPOs would have on the market. Elsewhere, South Korea's Kospi gave back 0.7%.

Comments from ECB President Mario Draghi alluding to an extended stimulus package have most European bourses moving higher. London's FTSE 100 has picked up 0.3%, with France's CAC 40 adding 0.3%. Germany's DAX, however, has given back 0.1%. 

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Unusual Put and Call Activity

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