Dow Jones Industrial Average Battles Earnings Season Blues

Don't Sleep On This Gold Signal

Jul 23, 2015 at 8:49 AM
facebook X logo linkedin


The Dow Jones Industrial Average (DJIA) is poised to extend its downward momentum following yesterday's earnings-induced hit, with futures pointed lower ahead of the bell. Quarterly reports are again in focus today, with traders digesting an earnings beat from blue chip McDonald's Corporation (NYSE:MCD) -- along with freshly slashed forecasts from fellow Dow components 3M Co (NYSE:MMM) and Caterpillar Inc. (NYSE:CAT). Elsewhere, weekly jobless claims plummeted to their lowest level in over 40 years, while the Greek parliament approved a bailout reform package after a heated debate.

 

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

 

And now, on to the numbers…

150723ov1

Futures on the Dow Jones Industrial Average (DJIA) are roughly 2 points below fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1.04 million call contracts traded on Wednesday, compared to 638,721 put contracts. The resultant single-session equity put/call ratio dropped to 0.61, while the 21-day moving average remained at 0.68.

150723ov2


150723ov3


Currencies and Commodities

150723ov4

Earnings and Economic Data

 

Weekly jobless claims and the Conference Board's index of leading economic indicators are on tap today. Visa (V), Amazon.com (AMZN), General Motors (GM), Under Armour (UA), Bristol-Myers Squibb (BMY), Juniper Networks (JNPR), Pandora Media (P), AT&T (T), Alaska Air (ALK), Boston Scientific (BSX), Boyd Gaming (BYD), Celgene (CELG), Comcast (CMCSA), Credit Suisse (CS), Cypress Semiconductor (CY), Dow Chemical (DOW), Dr Pepper Snapple (DPS), Dunkin Brands (DNKN), Eli Lilly (LLY), E*TRADE Financial (ETFC), Freeport-McMoRan (FCX), Kimberly-Clark (KMB), LogMeIn (LOGM), PulteGroup (PHM), Raytheon (RTN), Skyworks Solutions (SWKS), Starbucks (SBUX), Southwest Airlines (LUV), TripAdvisor (TRIP), Valeant Pharmaceuticals (VRX), and Weatherford (WFT) are scheduled to report earnings. 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 upbeat import and export data out of Japan, read Overseas Trading: Chinese Stocks Take Off; Greece Passes Reforms.

 

Unusual Put and Call Activity

 

150723ov5

150723ov6


 

*SPONSORED CONTENT*

How to collect 1 dividend check every day for LIFE

Did you know you could collect 1 dividend check every day the market is open? You could also do it starting with just $605! For me, I'm collecting 70 dividend checks every quarter…which averages around 1.1 dividend checks every business day. There's no trading behind this... no penny stocks or high-risk investments. All you do is buy and hold and you're set. There's no set up required either. If you start buying the dividend stocks I show you today... you could collect 1 dividend per day starting as early as this week. Click here for all the details.

*SPONSORED CONTENT*