Dow Jones Industrial Average Spins Its Wheels; GDP, Intel in Focus

Is eBay Headed for a Record High?

by Alex Eppstein

Published on May 29, 2015 at 8:25 AM
Updated on Jul 8, 2020 at 9:23 AM

The Dow Jones Industrial Average (DJIA) is struggling to pick up steam ahead of the bell, with futures barely higher -- putting the blue-chip index on pace for a second consecutive weekly loss. While Greece's chronic economic woes continue to dominate headlines overseas -- ahead of next Friday's scheduled International Monetary Fund (IMF) debt payment -- the big focus Stateside is the preliminary first-quarter gross domestic product (GDP) reading, due out this morning. In other news, Dow component Intel Corporation (NASDAQ:INTC) is reportedly nearing a $15 billion agreement to buy Altera Corporation (NASDAQ:ALTR), on the heels of Thursday's mega-merger in the semiconductor space.

 

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

 

And now, on to the numbers…

150529ov1

Futures on the Dow Jones Industrial Average (DJIA) are less than 5 points above fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 685,900 call contracts traded on Thursday, compared to 484,098 put contracts. The resultant single-session equity put/call ratio jumped to 0.71, while the 21-day moving average remained at 0.64.

150529ov2

150529ov3

Currencies and Commodities

  • The U.S. dollar index is flat at 96.97.
  • Crude oil has soared 1.2% to trade at $58.38 per barrel, building on yesterday's momentum.
  • Gold has edged 0.01% lower at $1,188.70 per ounce.

150529ov4

 

Earnings and Economic Data

 

The week closes out with the preliminary first-quarter GDP, the Chicago purchasing managers index (PMI), and the Thomson Reuters/University of Michigan consumer sentiment index. The earnings calendar is relatively bare. To see what's on next week's docket, click here.

 

Overseas Trading

 

Asian bourses ended the week on a mixed note. The Shanghai Composite finished a choppy session 0.2% lower, while Hong Kong's Hang Seng also slipped, down 0.1%. On the other side of the fence, Japan's Nikkei edged 0.06% higher to settle at a 15-year high, as slightly upbeat consumer outlays data overshadowed disappointing household spending figures. Likewise, South Korea's Kospi managed a 0.2% win.

 

European benchmarks are largely struggling today, as the Group of Seven continues to discuss Greece's dire financial situation, and traders digest a raft of economic growth data. London's FTSE 100 is currently up 0.2%, but the German DAX and French CAC 40 are down 0.6% and 0.8%, respectively.

 

150529ov5

 

Unusual Put and Call Activity

 

150529ov6

 

150529ov7

 



A Schaeffer's 39th Anniversary Exclusive!

8 Top Stock Picks for 2020

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


  
 
 

Partnercenter