Dow Jones Industrial Average on Pins and Needles; Iran Brings Energy Into Focus

Why Bulls Still Have the Upper Hand

Jul 14, 2015 at 8:43 AM
facebook twitter linkedin


Following two consecutive 200-point swings higher, futures on the Dow Jones Industrial Average (DJIA) are signaling a slow start. However, there are plenty of market-moving events that Wall Street will be digesting today, including earnings from blue chips JPMorgan Chase & Co. (NYSE:JPM) and Johnson & Johnson (NYSE:JNJ), retail sales, and import and export prices.

Additionally, the energy sector should remain in focus today, after Iran and several world powers reached a historic nuclear deal. The agreement will apply restrictions to Iran's nuclear arms program, and in return, several sanctions will be lifted on the country -- including its ability to increase oil exports.

 

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

 

And now, on to the numbers…

150714ov1

Futures on the Dow Jones Industrial Average (DJIA) are nearly 1 point below fair value.
 

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 816,857 call contracts traded on Monday, compared to 452,479 put contracts. The resultant single-session equity put/call ratio plunged to 0.55, while the 21-day moving average stayed at 0.68.

150714OV1


150714OV2

Currencies and Commodities
  • The U.S. dollar index is down 0.3% at 96.58.
  • Crude oil is off 0.1% at $52.67 per barrel.
  • Gold is 0.1% lower at $1,153.80 per ounce.

150714ov4

 

Earnings and Economic Data

 

Retail sales for the month of June were released ahead of the bell, along with import and export prices. This data will be followed by the May business inventories report.

As for companies in the news, JNJ will be joined by fellow Dow member JPM in the earnings spotlight. Other notable names reporting earnings are Wells Fargo & Co. (WFC) and YUM! Brands, Inc. (YUM). Watch for a post-close stock split from Netflix, Inc. (NFLX), while Applied Materials, Inc. (AMAT) will hold its analyst day. 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 what's pressuring global markets, read Overseas Trading: Another Volatile Day in China; Iran Seals Nuclear Deal

 

Unusual Put and Call Activity

 

150714OV6


150714OV7

What This Election Year Means for Stocks

Ipad with I voted sticker

  


 
Special Offers from Schaeffer's Trading Partners