Dow Jones Industrial Average Futures Shaky Ahead of Data

Why Bulls Must Hedge Their Bets This Week

by Josh Selway

Published on Jun 2, 2015 at 8:38 AM

After kicking off June on a high note, futures on the Dow Jones Industrial Average (DJIA) are pointed lower this morning, tracking their overseas counterparts. Traders had some earnings to dig through already today -- namely, Dollar General Corp. (NYSE:DG), Medtronic PLC (NYSE:MDT), and Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL). Factory orders and auto sales headline today's economic calendar, as well as a speech from Federal Reserve Governor Lael Brainard. 

 

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 16.4 points below fair value. 

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 795,045 call contracts traded on Monday, compared to 524,175 put contracts. The resultant single-session equity put/call ratio edged down to 0.66, while the 21-day moving average remained at 0.63.

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Currencies and Commodities

  • The U.S. dollar index is off 0.7% at 96.74.
  • Crude oil is up 1.5% at $61.09 per barrel. 
  • Gold has added 0.1% to land at $1,190.40 per ounce.
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    Earnings and Economic Data

     

    Auto sales and factory orders will be released today. In addition to CBRL, DG, and MDT, Ambarella (AMBA), Conn's (CONN), and Guess? (GES) will report earnings. To see what else is on this week's docket, click here.

     

    Overseas Trading

     

    Asian indexes closed mostly lower. China's Shanghai Composite finished as the sole winner, adding 1.7% amid expectations for continued regulatory support. The biggest loser was South Korea's Kospi, which fell 1.1% as downbeat auto sales data sparked heavy losses for heavyweights like Hyundai and Kia. Hong Kong's Hang Seng closed 0.5% lower, and Japan's Nikkei ended its 12-session win streak by losing 0.1% in the face of a recovering yen.

    Things aren't much better in Europe, where indexes are painted red as traders continue to eye Greece's debt negotiations. However, regional indexes have pared the worst of their losses after data showed the eurozone returning to inflationary mode in May. At last check, Germany's DAX was off 0.7%. Following its lead were London's FTSE 100, which was off 0.3%, and France's CAC 40, down less than 0.1%. 

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    Unusual Put and Call Activity

     

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