Dow Futures Add Triple Digits as Greece Deadline Looms

The S&P Trendline Traders Must Watch Today

Jun 30, 2015 at 8:46 AM
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The Dow Jones Industrial Average (DJIA) is poised to soar out of the gate, amid reports that Greek Prime Minister Alexis Tsipras may be considering an eleventh-hour reform-for-aid proposal from European Commission President Jean-Claude Juncker. If an agreement is not reached by today's deadline, however, Athens will default on its debt repayment to the International Monetary Fund (IMF) -- and possibly head toward an exit from the eurozone. On the home front, traders are looking forward to a number of economic reports, including the latest S&P/Case-Shiller home price index and consumer confidence data.

 

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 131 points above fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 710,695 call contracts traded on Monday, compared to 665,510 put contracts. The resultant single-session equity put/call ratio jumped to 0.94 -- its highest perch since Aug. 1, 2014 -- while the 21-day moving average inched up to 0.62.

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Currencies and Commodities

  • The U.S. dollar index has added 0.5% at 95.25.
  • Crude oil is up 0.7% to trade at $58.71 per barrel.
  • Gold is off 0.6% at $1,172.20 per ounce.

 

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Earnings and Economic Data

 

Today is Greece's deadline to repay the IMF's $1.7 billion loan, or else face a likely default and possible exit from the eurozone. On the home front, St. Louis Fed President James Bullard will speak, and the Street will digest the S&P/Case-Shiller home price index for April, the Chicago purchasing managers index (PMI), and June's consumer confidence data. Before the bell, ConAgra Foods Inc (CAG) and Schnitzer Steel Industries (SCHN) will step into the earnings confessional. To see what else is on this week's docket, click here.

 

Overseas Trading

 

For a breakdown of today's trading in Asia and Europe, including a rebound in Chinese equities, read Overseas Trading: Shanghai Composite Bounces; All Eyes on Greece.

 

Unusual Put and Call Activity

 

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