IMF Exit Weighs On Dow Jones Industrial Average

IMF Flounce Sinks Futures; Twitter Soars on CEO Swap

Jun 12, 2015 at 8:34 AM
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The Dow Jones Industrial Average (DJIA) is primed to give back a portion of the last two days' worth of gains, as traders continue to mull over the International Monetary Fund's (IMF) abrupt departure from Greek debt negotiations, due to "major differences" over reforms for aid. Stateside, the Street is looking forward to the release of the Thomson Reuters/University of Michigan consumer sentiment index and the producer price index (PPI), which could impact the direction of the Fed's upcoming policy statement. In other major news, Twitter Inc (NYSE:TWTR) is sharply higher after CEO Dick Costolo's surprise departure, with Chairman Jack Dorsey set to step in on an interim basis.


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


 And now, on to the numbers…


Futures on the Dow Jones Industrial Average (DJIA) are more than 43 points south of fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 710,363 call contracts traded on Thursday, compared to 416,199 put contracts. The resultant single-session equity put/call ratio jumped to to 0.59, while the 21-day moving average remained at 0.61.



Currencies and Commodities 

  • The U.S. dollar index is 0.5% higher at 95.47.
  • Crude oil has slipped 0.9% to trade at $60.65 per barrel.
  • Gold has inched 0.05% lower to $1,179.80 per ounce.



Earnings and Economic Data


The week closes out with the PPI and the Thomson Reuters/University of Michigan consumer sentiment index. There are no earnings reports worth noting. To see what's on next week's agenda, click here.


Overseas Trading


Asian markets ended mostly higher, as a solid lead from U.S. stocks helped to counteract questions surrounding Greece's debt talks. The Shanghai Composite rose 0.9% to a seven-year closing peak, despite nervousness over an upcoming string of IPOs that could sap liquidity, while Hong Kong's Hang Seng popped 1.4%, and Japan's Nikkei edged 0.1% higher on a weaker yen. On the flip side, South Korea's Kospi was off 0.2%.


European equities are feeling the weight of the impasse between Greek and its creditors. The French CAC 40 and German DAX are 0.8% and 1.1% lower, respectively. Also, London's FTSE 100 is off 0.5%, despite upwardly revised first-quarter economic growth numbers from the Office of National Statistics.




Unusual Put and Call Activity






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