Dow Jones Industrial Average Futures Jittery Ahead of JOLTS

Time to Hit the Bricks on Big-Caps?

by Alex Eppstein

Published on Jun 9, 2015 at 8:39 AM
Updated on Jul 13, 2020 at 2:57 PM

The Dow Jones Industrial Average (DJIA) is struggling to find a foothold this morning -- after giving up its 2015 gains yesterday -- as speculation picks up over the timing of the Fed's planned interest rate hike. Accordingly, all eyes will be on today's Job Openings and Labor Turnover Survey (JOLTS), as another upbeat employment report, on the heels of Friday's solid payrolls number, could raise the odds of a summer liftoff. Overseas, Greece has submitted a new budget reform plan amid talk of a bailout extension with international creditors -- though Bloomberg reports that one international official, speaking anonymously, called the plan "a vague rehash of earlier proposals" and "not considered credible."

 

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 6 points below fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 795,341 call contracts traded on Monday, compared to 485,865 put contracts. The resultant single-session equity put/call ratio remained at 0.61, while the 21-day moving average ticked up to 0.62.

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Currencies and Commodities

  • The U.S. dollar index is off 0.05% at 95.26.
  • Crude oil has jumped 2.1% to trade at $59.33 per barrel.
  • Gold is 0.6% higher at $1,181.00 per ounce.

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Earnings and Economic Data

 

Today will feature the latest JOLTS from the Labor Department. Burlington Stores (BURL), Hovnanian Enterprises (HOV), LULU, Mattress Firm (MFRM), and Pep Boys-Manny Moe and Jack (PBY) are scheduled to report quarterly results. To see what else is on this week's agenda, click here.

 

Overseas Trading

 

Asian stocks ended lower, amid fears of a U.S. interest rate hike and the latest economic data out of Beijing. China's Shanghai Composite lost 0.4%, after the nation's consumer price index rose by a slimmer-than-expected margin, and producer prices dropped more than anticipated. Hong Kong's Hang Seng fell 1.2% as casino stocks took a beating on a bearish analyst note. Meanwhile, South Korea's Kospi slipped 0.06%, and Japan's Nikkei was the region's biggest loser, plunging 1.8% on a stronger yen.

 

European bourses are also in the red, as international creditors struggle to nail down terms of a Greek bailout. Specifically, London's FTSE 100 is off 0.2%, as heavyweight HSBC declines on news of a massive restructuring plan meant to cut costs by up to $5 billion in the next two years. Likewise, the French CAC 40 and German DAX have shed 0.4% and 0.8%, respectively.

 

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Unusual Put and Call Activity

 

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