Dow Jones Industrial Average Eyes First Win in Four; Amazon Blows Up

The Stock That's One-Upping GoPro​

Jul 24, 2015 at 8:48 AM
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Dow Jones Industrial Average (DJIA) futures are higher in electronic trading, putting the bellwether on track to end its three-session losing streak. The Dow is getting a boost from blue chip Visa Inc (NYSE:V), which crushed earnings expectations and upped its full-year guidance last night. Also on the earnings front, Amazon.com, Inc. (NASDAQ:AMZN) is poised to soar more than 20% at the open, following the company's surprise quarterly profit. Elsewhere, traders are awaiting the flash purchasing managers index (PMI) and new home sales numbers, and digesting a new multi-year low for gold.

 

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 roughly 35 points above fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 869,933 call contracts traded on Thursday, compared to 680,213 put contracts. The resultant single-session equity put/call ratio jumped to 0.78, while the 21-day moving average rose to 0.70.

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Currencies and Commodities

  • The U.S. dollar index has added 0.3% at 97.45.
  • Crude oil is looking to bounce back, up 0.5% at $48.70 per barrel.
  • Gold is poised to resume its downtrend, down 1.4% at $1,078.90 per ounce.

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Earnings and Economic Data

 

June's new home sales data, as well as Markit's flash PMI, are on today's docket. Reporting earnings are Biogen (BIIB), AbbVie (ABBV), American Airlines (AAL), Barnes Group (B), Johnson Controls (JCI), Lear (LEA), Moody's (MCO), Spirit Airlines (SAVE), State Street (STT), and Xerox (XRX). Meanwhile, AstraZeneca (AZN) is scheduled to undergo a 2-for-1 split after the close.

 

Overseas Trading

 

For a breakdown of today's trading in Asia and Europe, including the International Monetary Fund's (IMF) take on Japan's "Abenomics," read Overseas Trading: Soft Data Snaps Shanghai's Win Streak.

 

Unusual Put and Call Activity

 

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