Greece Drives Dow Jones Industrial Average North; Nasdaq Can't Be Stopped

The Big Question Hanging Over the S&P 500

Karee Venema

Jun 23, 2015 at 8:34 AM

COMP
DJIA

The Dow Jones Industrial Average (DJIA) is signaling a second straight day of gains, as signs continue to emerge that Greece could be on the cusp of reaching an agreement with its creditors. In fact, in the wake of Monday's emergency summit of the region's finance ministers, European Council President Donald Tusk said the plan submitted by Greece included "the first real proposals in many weeks." The leaders will meet again tomorrow. Stateside, updates on durable goods, housing, and manufacturing should garner some attention, as should the strengthening dollar. Additionally, all eyes will be on the Nasdaq Composite (COMP), which appears poised to continue its record-setting run.

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

Schaeffer's Senior VP of Research Todd Salamone explains why this is the big question hanging over the S&P 500 Index (SPX).
These two biotechs powered higher after partnering up, while their sector peer soared on upbeat drug news.
This semiconductor concern can't catch a break ahead of its quarterly earnings report.

And now, on to the numbers…

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Futures on the Dow Jones Industrial Average (DJIA) are more than 39 points above fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 812,292 call contracts traded on Monday, compared to 452,184 put contracts. The resultant single-session equity put/call ratio fell to 0.56, while the 21-day moving average remained at 0.61.

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Currencies and Commodities

The U.S. dollar index is up 0.8% at $95.10.
Crude oil is down 0.4% at $60.12 per barrel.
Gold is 0.2% lower at $1,181.40 per ounce.

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Earnings and Economic Data

Durable goods data and new home sales will hit the Street today, as well as Markit's flash purchasing managers manufacturing index (PMI). The earnings announcements of note all take place ahead of the opening bell, with BlackBerry (NASDAQ:BBRY), Carnival (NYSE:CCL), and Darden Restaurants (NYSE:DRI) all reporting quarterly results. To see what else is on this week's agenda, click here.

Overseas Trading

For a breakdown of today's trading in Asia and Europe, including fresh highs for Japanese stocks and eurozone manufacturing, read Overseas Trading: All Eyes on Greece as Debt Deal Nears.

Unusual Put and Call Activity

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