Dow Jones Industrial Average Set to Start October on a Positive Note

3 Biotechs with Bearish Bets at 10-Year Highs

Oct 1, 2015 at 9:02 AM
facebook twitter linkedin

Following a rough month -- and its worst quarter since 2011 -- the Dow Jones Industrial Average (DJIA) is set to open October on a positive note, building off of yesterday's positive momentum. Historically, the fourth quarter is the strongest of the year, though the market's weak start to 2015 could challenge this historical trend. It will be a busy day on the economic front ahead of tomorrow's marquee payrolls release, with a bigger-than-expected rise in weekly jobless claims already hitting the Street.

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


And now, on to the numbers…


Futures on the Dow Jones Industrial Average (DJIA) are more than 29 points above fair value.

5 Things You Need to Know Today


  1. Asian stocks kicked off the month on a solid note, helped by better-than-expected (but still relatively weak) manufacturing data out of China.
  2. The Chicago Board Options Exchange (CBOE) saw 595,452 call contracts traded on Wednesday, compared to 416,425 put contracts. The resultant single-session equity put/call ratio plunged to 0.70, while the 21-day moving average inched up to 0.78. 
  3. Wal-Mart Stores, Inc. (NYSE:WMT) is reportedly on the verge of laying off several hundred employees at its home office, in an attempt to streamline operations. This would make the retailer the second Dow component in a week to announce job cuts. Amid the reports, WMT shares are fractionally higher pre-market.
  4. Following a vote by members, the United Auto Workers (UAW) has rejected a contract offer from Fiat Chrysler Automobiles NV (NYSE:FCAU) -- marking the first time in 30 years the union has turned down a national labor agreement. Nonetheless, thanks to the automaker's 13.6% jump in September U.S. auto sales, FCAU is pointed 0.08% higher ahead of the bell.
  5. While patent infringement lawsuits are nothing new to the tech space, Google Inc (NASDAQ:GOOGL) and Microsoft Corporation (NASDAQ:MSFT) have mutually decided to drop all pending patent cases against each other.


Earnings and Economic Data


Motor vehicle sales, the Challenger job cut report, weekly jobless claims, Markit's PMI manufacturing index, construction spending, and the ISM manufacturing index are all on tap today. Plus, San Francisco Fed President John Williams will speak in Salt Lake City. As for earnings, CalAmp (CAMP), McCormick (MKC), Micron Technology (MU), and Progress Software (PRGS) will all report quarterly results. To see what else is coming up on this week's docket, click here.


If you are not making money with options, you aren’t buying options like this…

There is no options strategy that more perfectly approaches trading the fastest moving and most volatile stocks available in the marketplace than this one. In fact, there is no strategy that better utilizes put options for optimal returns and a real trading edge over other traders in the exact same market. New options traders fail out at an incredible rate without proper trade research, execution timing, and option picking. Capitalize on Schaeffer’s 100+ years of options trading excellence with the most coveted product launch in company history. Don't waste another second... join us right now before the next round of trades are released!

Schaeffer's Investment Research Master Portfolio Trial


Special Offers from Schaeffer's Trading Partners