Dow Jones Industrial Average Battles Earnings Season Blues

Don't Sleep On This Gold Signal

by Alex Eppstein

Published on Jul 23, 2015 at 8:49 AM
Updated on Jul 23, 2015 at 8:52 AM

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



A Schaeffer's exclusive

6 Sectors for Summer

Access your FREE insider report before it's too late!


  
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


The Next Big Player in U.S. MJ Boom
Most pure-play marijuana stocks in the U.S. trade on the Over-the-Counter stock exchange.
Planet Fitness Stock Lifted Amid Re-Opening Optimism
Planet Fitness reopened around 800 facilities in North America
Coffee Stock Drops Despite Cost-Cutting Initiatives
Starbucks asked employees to further limit working hours or take unpaid leave
The Big Bankruptcy You Should Be Afraid Of
Porter Stansberry is making a concerning prediction.