Dow Jones Industrial Average Slips; Housing, Fed in Focus

A Look Inside This Monster VIX Bet

by Karee Venema

Published on May 18, 2015 at 8:29 AM
Updated on May 18, 2015 at 8:30 AM

The Dow Jones Industrial Average (DJIA) is on pace to give back a portion of last week's gains, despite relatively dovish comments from Chicago Fed President Charles Evans. Specifically, speaking at a conference in Sweden, Evans reiterated his call for a 2016 rate hike -- though he also noted a case could potentially be made for a June increase. This comes ahead of Wednesday's release of the Federal Open Market Committee's (FOMC) latest meeting minutes, which Wall Street is sure to examine with a fine-toothed comb. Also in focus today will be the latest NAHB housing market index, due at 10 a.m. ET.

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

And now, on to the numbers…

150518ov1

Futures on the Dow Jones Industrial Average (DJIA) are more than 28 points below fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1.1 million call contracts traded on Friday, compared to 600,873 put contracts. The resultant single-session equity put/call ratio moved down to 0.56, while the 21-day moving average remained at 0.63.

 

150518OV2

150518OV3

Currencies and Commodities​

  • The U.S. dollar index is up 0.5% at 93.57.
  • Crude oil has jumped 1.1% to $61.22 per barrel.
  • Gold is flirting with a 0.1% lead to trade at $1,226.40 per ounce.

150518ov4

Earnings and Economic Data

The week starts off with the National Association of Home Builders (NAHB) housing market index. For earnings, we'll hear from Agilent Technologies (A), JA Solar (JASO), Take-Two Interactive (TTWO), and Urban Outfitters (URBN). To see what else is on this week's calendar, click here.

Overseas Trading

Asian benchmarks settled on both sides of breakeven, as traders digested a batch of regional economic data. Specifically, housing prices in China plunged last month, while factory orders in Japan jumped in March. By the close, China's Shanghai Composite was off 0.6% and Hong Kong's Hang Seng was 0.8% lower. Japan's Nikkei, meanwhile, rose 0.8% amid a rally in financial names, while South Korea's Kospi added 0.3%.

European indexes are lower ahead of today's European Union Foreign Affairs Council meeting, where Greece's fiscal status is expected to dominate the conversation. At last check, the French CAC 40 is off 0.9%, the German DAX is 0.3% lower, and London's FTSE 100 is down 0.2%.

150518ov5

​ Unusual Put and Call Activity

150518OV7

150518OV8

 


A Schaeffer's exclusive

6 Sectors for Summer

Access your FREE insider report before it's too late!


  
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


Huge New Legal Marijuana Market Has Shortage Crisis
250 million Europeans have access to medical marijuana. There's already a shortage....
Bull Notes Galore For DOCU After Earnings Beat
DocuSign's (DOCU) first-quarter profits and revenue were better than Wall Street anticipated
ZUMZ Stumbles Despite Post-Earnings Praise
Zumiez reported first-quarter losses and revenue that missed analysts' estimates
The Next Big Player in U.S. MJ Boom
Most pure-play marijuana stocks in the U.S. trade on the Over-the-Counter stock exchange.