Dow Jones Industrial Average Jittery as Greek Banks Re-Open

3 Energy Stocks Getting Crushed

by Karee Venema

Published on Aug 3, 2015 at 9:03 AM
Updated on Aug 3, 2015 at 9:08 AM

Futures on the Dow Jones Industrial Average (DJIA) are indicating another push-and-pull session, as traders keep a close eye trained overseas. Specifically, the Athens stock market re-opened today after being shuttered for more than a month -- and, as expected, it's been a rocky start, with the Athens Stock Exchange down roughly 23% at one point. Meanwhile, there's plenty on the homefront to hold investors' attention, with a slew of economic data -- including monthly auto sales -- and earnings due out.

 

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 8 points above fair value.

5 Things You Need to Know Today

  1. China's Shanghai Composite extended its recent decline, thanks to a round of uninspiring manufacturing data, while European benchmarks are brushing off a sell-off in Greek bank stocks.
  2. The CBOE Volatility Index (VIX) slumped last month, giving back more than one-third of its value to settle at 12.12.
  3. President Barack Obama is expected to unveil a stiff environmental plan today today, taking what he calls "the biggest, most important step" to battle climate change -- a move that could possibly be a boon to solar energy stocks.
  4. Iran's oil minister said the country plans to boost output by at least 500,000 barrels per day once sanctions are lifted in November. The news has sent crude lower ahead of the bell, and on pace to extend last week's steep losses. At last check, September futures are off about 1 point at $46.14 per barrel.
  5. Tyson Foods, Inc. (NYSE:TSN) has kicked off a busy week of earnings on a gloomy note, after the chicken concern said fiscal third-quarter earnings fell short of estimates and lowered its full-year forecast.The stock is off more than 9% in pre-market action.

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 Market Statistics

  • Exxon Mobil Corporation (NYSE:XOM), LinkedIn Corp (NYSE:LNKD), and AT&T Inc. (NYSE:T) were among the equities with unusual call and put activity on Friday. For the entire list, read Unusual Options Activity: XOM, LNKD, TASR, HTZ, TSLA, NFLX.
  • The Chicago Board Options Exchange (CBOE) saw 778,472 call contracts traded on Friday, compared to 532,348 put contracts. The resultant single-session equity put/call ratio jumped to 0.68, while the 21-day moving average remained at 0.67.
  • For info on currencies, commodities, trading volume, market breadth, and more, read Stock Market Stats For July 31, 2015

 

Earnings and Economic Data

 

Today kicked off with mixed data on June personal income and personal spending figures. Looking ahead, the Street will get the Markit purchasing managers manufacturing index (PMI), the Institute for Supply Management (ISM) manufacturing index, and construction spending and auto sales data for July. Also, Federal Reserve Governor Jerome Powell will make a speech in Washington, D.C.

Broadsoft (BSFT), Clorox (CLX), Loews Corp. (L), and TSN announced earnings ahead of the bell. After the closing bell sounds, American International Group (AIG), Allstate (ALL), Avis Budget Group (CAR), Biomarin Pharmaceuticals (BMRN), Checkpoint Systems (CHKP), Ctrip.com (CTRP), General Growth Properties (GGP), Lending Tree (TREE), Microchip Technology (MCHP), Nautilus (NLS), Tessera Tech (TSRA), and Veeco Instruments (VECO) will slip into the earnings confessional. To see what else is on this week's agenda, click here.


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