Potential Greek Default Slams Dow Futures

Dow Set to Plunge as Greek Bank Closures Spark Panic

Jun 29, 2015 at 8:47 AM
facebook X logo linkedin


Dow Jones Industrial Average (DJIA) futures are taking a cue from their overseas peers this morning, selling off sharply on news that talks between Greece and its international creditors broke down over the weekend. As such, the country will likely default on an International Monetary Fund (IMF) loan repayment due tomorrow, while Prime Minister Alexis Tsipras has called a referendum for Sunday, July 5, allowing citizens to vote on whether to accept a bailout package -- which would require Greece to implement austerity measures. As the country's fate in the eurozone hangs in the balance, banks across the country are closed today, with capital controls being put in place to dodge a bank run. While Greece is the primary focus, traders stateside will also digest the latest pending home sales index and the Dallas Fed manufacturing survey later this morning.

 

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

 

 And now, on to the numbers…

150629ov1

Futures on the Dow Jones Industrial Average (DJIA) are nearly 156 points below fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 782,894 call contracts traded on Friday, compared to 580,590 put contracts. The resultant single-session equity put/call ratio jumped to 0.74, while the 21-day moving average remained at 0.60.

150629ov3

150629ov2 

Currencies and Commodities 

  • The U.S. dollar index is up 0.2% at 95.63.
  • Crude oil has given back 2.3% to trade at $58.24 per barrel.
  • Gold has tacked on 0.4% at $1,178 per ounce.

 

150629ov4

 

Earnings and Economic Data

 

The pending home sales index for May will be released this morning, as will the Dallas Fed's manufacturing survey. Earnings announcement after the closing bell include Apollo Education Group, Inc. (APOL) and CHC Group (HELI). 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 a surprise move by the People's Bank of China, read Overseas Trading: Global Stocks Sell Off on Greece.

 

 

Unusual Put and Call Activity

 

150629ov5

150629ov6


 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI