The DJIA is eyeing a big bounce, as traders take a breather from Greece's debt drama
The
Dow Jones Industrial Average (DJIA) appears ready to pare a portion of Wednesday's
steep losses, as traders seemingly brush off the
still-unresolved debt drama overseas. Specifically, the Greek government and leaders of the European Commission reportedly submitted two separate proposals to Eurogroup finance ministers, ahead of today's two-day European Union summit. According to Austrian Finance Minister Hans Joerg Schelling, if the plans don't meet with approval from officials, "then we will have to start thinking about alternatives."
Meanwhile, there will be plenty for traders to digest stateside, as well. On the economic front, weekly jobless claims and updates on personal income and spending follow
yesterday's final reading on first-quarter gross domestic product (GDP). Elsewhere, speeches from a pair of Fed officials could create some chatter, as Wall Street looks for clues for a September rate hike.
Continue reading for more on today's market, including:
And now, on to the numbers…
Futures on the Dow Jones Industrial Average (DJIA) are nearly 85 points above fair value.
Market Statistics
The Chicago Board Options Exchange (CBOE) saw 817,929 call contracts traded on Wednesday, compared to 422,248 put contracts. The resultant single-session equity put/call ratio plunged to 0.52, while the 21-day moving average stayed at 0.60.
Currencies and Commodities
- The U.S. dollar index is down 0.04% at 95.23.
- Crude oil is 0.3% lower at $60.07 per barrel.
- Gold is flat at $1,172.90 per ounce.
Earnings and Economic Data
Weekly jobless claims, as well as personal income and spending data, will be in focus today. Dow component Nike (NYSE:NKE), Accenture (NYSE:ACN), Barnes & Noble (NYSE:BKS), and Micron Technology (NYSE:MU) will report earnings. To see what's on tomorrow's agenda, click here.
Overseas Trading
For a breakdown of today's trading in Asia and Europe, including China's latest attempt to boost lending, read Overseas Trading: Volatile Session in China Ends With Sharp Losses.
Unusual Put and Call Activity
