Dow Jones Industrial Average Futures Jump 143 Points; Jobs Data in Focus

This VIX Theoretical Could Be "A Total Disaster"

by Karee Venema

Published on Sep 3, 2015 at 8:51 AM

The Dow Jones Industrial Average (DJIA) is signaling a higher start -- and a second straight day of gains -- as Wall Street gets a respite from drama in the Chinese mainland. However, there's still a lot for traders to digest today, including a bigger-than-expected jump in jobless claims -- which comes ahead of tomorrow's highly anticipated nonfarm payrolls report.

 

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

 

And now, on to the numbers…

 

150903ovfutures2

Futures on the Dow Jones Industrial Average (DJIA) are nearly 144 points above fair value.

 

5 Things You Need to Know Today

 

  1. European markets are popping at midday, following the European Central Bank's (ECB) latest policy decision, with the German DAX leading the charge.
  2. The CBOE Volatility Index (VIX) plunged 16.9% yesterday to settle at 26.09. The market's "fear gauge," however, remained above the key 23.90 level, which traders looking to commit new money to this market should be watching closely.
  3. In what's been an already volatile week for biotechs, ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) is 9% higher in electronic trading. Stoking the burst of buying power is news the firm has hired a new CEO, and submitted an application to the Food and Drug Administration (FDA) for approval of Nuplazid -- a treatment for psychosis among patients with Parkinson's Disease.
  4. Twitter Inc's (NYSE:TWTR) board of directors is scheduled to meet today to discuss the search for a new CEO. Co-founder Jack Dorsey -- who has been serving as interim CEO since Dick Costolo hit the bricks in mid-June -- is rumored to be the lead candidate. The shares are up about 0.8% in electronic trading, but have lost roughly one-quarter of their value over the past three months.
  5. Late Wednesday, Tesla Motors Inc (NASDAQ:TSLA) CEO Elon Musk tweeted the company will unveil its smaller, lower-cost Model 3 sedan in March, with production expected to start in 2017. The stock -- which has been licking its proverbial wounds along with the broader equities market -- is up 2% ahead of the bell.

 

150903OV_Buzz


Market Statistics

 

  • GoPro Inc (NASDAQ:GPRO), TESARO Inc (NASDAQ:TSRO), and G-III Apparel Group, Ltd. (NASDAQ:GIII) were among the equities with unusual call and put activity on Wednesday. For the entire list, read Unusual Options Activity: GPRO, GIII, TSRO, and RJET.
  • The Chicago Board Options Exchange (CBOE) saw 663,121 call contracts traded on Wednesday, compared to 481,877 put contracts. The resultant single-session equity put/call ratio edged down to 0.73, while the 21-day moving average remained at 0.77.
  • For info on currencies, commodities, trading volume, market breadth, and more, read Stock Market Stats for September 2, 2015.

 

Earnings and Economic Data

 

Employment data continues to roll in, with weekly jobless claims in focus. Additionally, the Institute for Supply Management's (ISM) services index, the U.S. trade balance, and a speech from Minneapolis Fed President Narayana Kocherlakota in Missoula, Montana are all on the calendar. The day's earnings releases include Campbell Soup (CPB), Ciena (CIEN), Joy Global (JOY), Lands' End (LE), Medtronic (MDT), UTI Worldwide (UTIW), and VeriFone (PAY). To see what's on tomorrow's agenda, click here.


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