Dow Jones Industrial Average Futures Volatile as G-7 Gets Heated

2 Java Giants and the IPO Du Jour

by Alex Eppstein

Published on Jun 8, 2015 at 8:41 AM
Updated on Jun 8, 2015 at 10:56 AM

Dow Jones Industrial Average (DJIA) futures are on wobbly ground ahead of the open, bouncing between positive and negative territory following a tense Group of Seven (G-7) meeting over the weekend. At the summit, European Commission President Jean-Claude Juncker accused Greek Prime Minister Alexis Tsipras of delaying progress on the Greek bailout. Meanwhile, the White House is swatting down reports that President Barack Obama called the stronger U.S. dollar "a problem" at the G-7 summit, with the conflicting news sparking some currency volatility this morning. These headlines may serve as the key drivers in today's relatively quiet session, with no major economic reports set to hit the Street.

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 roughly 5.5 points above fair value.

 

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 801,071 call contracts traded on Friday, compared to 489,179 put contracts. The resultant single-session equity put/call ratio stayed at 0.61, while the 21-day moving average ticked lower to 0.61.

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Currencies and Commodities

  • The U.S. dollar index is off 0.3% at 96.05.
  • Crude oil is down 0.6% at $58.76 per barrel.
  • Gold has added 0.4% to trade at $1,172.90 per ounce.

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Earnings and Economic Data

There are no notable economic reports scheduled for today. Dave & Busters (PLAY), FuelCell Energy (FCEL), H&R Block (HRB), Sears Holdings (SHLD), and Vail Resorts (MTN) will step up to the earnings mic, while Apple (AAPL) will kick off its Worldwide Developers Conference. To see what else is on this week's agenda, click here

Overseas Trading

It was a mixed finish in Asia today. Chinese stocks erased early losses to hit fresh seven-year highs, with banking stocks leading the way amid expectations for domestic A-shares to be added to the MSCI Emerging Markets Index. Meanwhile, in Japan, an upbeat revision to first-quarter gross domestic product (GDP) was offset by a stronger yen. By the close, China's Shanghai Composite climbed 2.2%, Hong Kong's Hang Seng rose 0.2%, Japan's Nikkei shed 0.02%, and South Korea's Kospi finished 0.1% lower.

European benchmarks are lower at midday, as Greek Finance Minister Yanis Varoufakis met with Germany's Wolfgang Schaeuble about Athens' long-delayed reform program. At last look, France's CAC 40 is off 0.8%, the German DAX is down 0.6%, and London's FTSE 100 has shed 0.2%.

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Unusual Put and Call Activity

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