After a strong showing last week, the Dow Jones Industrial Average (INDEXDJX:DJI) is headed higher once again. Although it's expected to be a low-volume session due to the holiday-shortened week, there's plenty on the corporate front to hold investors' attention. Specifically, the biopharmaceutical sector should be in focus today, following fundamental developments for Cubist Pharmaceuticals Inc (NASDAQ:CBST), AbbVie Inc (NYSE:ABBV), and Gilead Sciences, Inc. (NASDAQ:GILD).

• A lesson in the importance of CBOE Volatility Index (VIX) open interest, courtesy of Schaeffer's Senior VP of Research Todd Salamone.
• Analysts at Citigroup think a rally to record highs is on the horizon for Facebook Inc (NASDAQ:FB).
• Option bears are eyeing more downside for this retailer, following Friday's post-earnings collapse.

Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are more than 78 points above fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1.43 million call contracts traded on Friday, compared to 835,661 put contracts. The resultant single-session equity put/call ratio edged up to 0.59, while the 21-day moving average remained at 0.65.

Currencies and Commodities

• The U.S. dollar index is down 0.1% at 89.49.
• Crude oil is ready to resume its recent downtrend, and was last seen 1.1% lower at $56.51 per barrel.
• Gold, meanwhile, is little changed to trade at $1,196.20 per ounce.

Earnings and Economic Data

The holiday week kicks off with existing home sales. There are no notable earnings on tap.

Overseas Trading

Asian markets extended last week's Fed-induced rally, as a continued bounce in crude oil helped boost investor sentiment. In China, the Shanghai Composite tagged a nearly four-year high before settling with a 0.7% gain, while Hong Kong's Hang Seng added 1.3%. Elsewhere, South Korea's Kospi tacked on 0.7%, despite downwardly revised 2014 and 2015 growth forecasts, while Japan's Nikkei rose 0.1%.

A rebound in energy stocks has European benchmarks higher at midday. Additionally, traders appear to be taking a glass-half-full approach ahead of today's release of a flash reading on eurozone consumer confidence, as well as the Bank of England's (BoE) minutes from its latest policy-setting meeting. At last check, the German DAX is up 1%, while London's FTSE 100 and the French CAC 40 are flirting with 0.8% leads.

For an explanation of how to use this information, check out our Education Center topics on Option Volume and Open Interest Configurations.

The Dow Jones Industrial Average (INDEXDJX:DJI) is poised to extend its Fed-induced momentum into a third straight session, with futures pointed solidly higher ahead of the bell. What's more, the blue-chip barometer is easily on pace to resume its slate of weekly wins, and is already up 2.9% from last Friday's close. Although today's economic calendar is void, it is quadruple-witching expiration, which should create some increased volatility. Additionally, speeches from Chicago Fed President Charles Evans and Richmond Fed President Jeffrey Lacker should garner some attention.

• Is triple-digit territory on the horizon for this biopharmaceutical firm? One brokerage firm certainly thinks so.
• With NQ Mobile Inc (ADR) (NYSE:NQ) set for a post-earnings plunge, which group of put players came out on top?
• In case you missed it, 2 first-quarter sector standouts to keep on your watch list.

Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are nearly 82 points above fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1.20 million call contracts traded on Thursday, compared to 691,629 put contracts. The resultant single-session equity put/call ratio plunged to 0.58, while the 21-day moving average moved up to 0.65.

Currencies and Commodities

• The U.S. dollar index is up 0.1% at 89.34.
• Crude oil is poised to bounce back, up 2% at $55.44 per barrel.
• Gold, meanwhile, is 0.2% higher at $1,196.80 per ounce.

Earnings and Economic Data

There are no notable economic reports today. BlackBerry (BBRY), CarMax (KMX), Finish Line (FINL), and Paychex (PAYX) will step into the earnings spotlight.

Overseas Trading

Asian markets rallied in the wake of a big win on Wall Street. In Japan, the Nikkei soared 2.4% -- its best session in nearly seven weeks -- amid a cooling yen and an upbeat economic outlook from the Bank of Japan (BoJ). Elsewhere, China's Shanghai Composite and South Korea's Kospi both posted 1.7% gains, while Hong Kong's Hang Seng added 1.3%.

European benchmarks are mostly lower at midday, pressured by a retreat in banking and healthcare stocks. At last check, the German DAX is down 0.4%, and the French CAC 40 is off 0.2%. London's FTSE 100 is bucking the regional bearish trend, though, and is up 0.4%.

For an explanation of how to use this information, check out our Education Center topics on Option Volume and Open Interest Configurations.

Fed-induced optimism sent the Dow Jones Industrial Average (INDEXDJX:DJI) to its best day of the year on Wednesday, and the blue-chip barometer is set to pick up right where it left off. At last check, futures on the DJI were up 200 points, while those on the S&P 500 Index (SPX) and Nasdaq Composite (COMP) were also signaling impressive starts. Meanwhile, crude oil should continue to dominate headlines, with futures nearly 3% higher in electronic trading. On the economic front, weekly jobless claims and the Philadelphia Fed's manufacturing survey are slated for release.

• Herbalife Ltd. (NYSE:HLF) took a wild ride after Bill Ackman's latest jab.
• Credit Suisse sent a stinging message to Cliffs Natural Resources Inc (NYSE:CLF), sending the shares to new 10-year lows.
• Pre-earnings option traders took decidedly different routes on Carnival Corporation (NYSE:CCL) and Rite Aid Corporation (NYSE:RAD).

Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are more than 200 points above fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1.09 million call contracts traded on Wednesday, compared to 772,942 put contracts. The resultant single-session equity put/call ratio fell to 0.71, while the 21-day moving average edged up to 0.64.

Currencies and Commodities

• The U.S. dollar index is fractionally lower at 89.12.
• Crude oil is on pace to add to Wednesday's gains, up 2.9% at $58.42 per barrel.
• Gold, meanwhile, is 1% higher at $1,206.60 per ounce.

Earnings and Economic Data

Weekly jobless claims and the Philadelphia Fed's manufacturing survey come out today. On the earnings front, Nike (NKE), Accenture (ACN), Cintas (CTAS), ConAgra (CAG), NQ Mobile (NQ), Pier 1 Imports (PIR), Red Hat (RHT), RAD, and Scholastic Corp (SCHL) will report.

Overseas Trading

It was a mixed session in Asia today. Japan's Nikkei rallied 2.3% -- and reclaimed its perch atop the 17,000 mark -- amid a cooling yen and optimism ahead of tomorrow's policy decision from the Bank of Japan (BoJ). Hong Kong's Hang Seng, meanwhile, tacked on 1.1%. On the flip side, both South Korea's Kospi and China's Shanghai Composite gave back 0.1%, with the latter retreating following a report that showed new home prices fell in November.

European bourses are in rally mode at midday, tracking the Fed-induced gains of their U.S. counterparts. Adding to the bullish buzz is a better-than-expected German Ifo business climate survey. Against this backdrop, the French CAC 40 is up 2.6%, the German DAX is 2.1% higher, and London's FTSE 100 is enjoying a 1.1% lead.

For an explanation of how to use this information, check out our Education Center topics on Option Volume and Open Interest Configurations.

It's been a turbulent week for the Dow Jones Industrial Average (INDEXDJX:DJI), and the blue-chip barometer is poised to extend this roller-coaster ride in today's session. Bulls appear to be at the helm, however, with futures up more than 89 points. The central bank will be in focus, with the Federal Open Market Committee (FOMC) slated to unveil their latest policy decision at 2 p.m. ET, followed by a press conference with Fed Chair Janet Yellen. However, Wall Street will also be keeping a close eye on the Russian ruble, which is extending its decline against the dollar, as well as crude oil, which is lower ahead of today's weekly inventories update.

• Are option traders on the wrong side of this rallying blue chip?
• Volatility is the name of the game in the energy sector, and components Exxon Mobil Corporation (NYSE:XOM) and Linn Energy LLC (NASDAQ:LINE) are no exceptions.
• Schaeffer's contributor Adam Warner offers up his two cents on 4 pundit predictions for 2015.

Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are more than 89 points above fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1.10 million call contracts traded on Tuesday, compared to 811,260 put contracts. The resultant single-session equity put/call ratio edged down to 0.74, while the 21-day moving average rose to 0.63.

Currencies and Commodities

• The U.S. dollar index is up 0.2% at 88.26.
• Crude oil is poised to resume its rout, down 2.9% at $54.64 per barrel.
• Gold, meanwhile, is 0.5% higher at $1,200.20 per ounce.

Earnings and Economic Data

The latest policy announcement by the FOMC highlights today's docket, as well as the subsequent press conference from Fed Chair Janet Yellen. Also being released are the consumer price index (CPI) and the weekly crude inventories report. FedEx (FDX), General Mills (GIS), Joy Global (JOY), and Oracle (ORCL) will show their earnings power.

Overseas Trading

Markets in Asia finished on both sides of breakeven today, ahead of today's policy decision from the FOMC. In China, banking stocks helped boost the Shanghai Composite to a 1.3% win, while Japan's Nikkei tacked on 0.4%, despite a stronger yen and lackluster trade data. Elsewhere, Hong Kong's Hang Seng gave back 0.4%, and South Korea's Kospi logged a 0.2% loss.

Across the pond, indexes are trading lower at midday, amid a sell-off in stocks with ties to Russia. Additionally, investors are taking a cautious stance as Greece kicks off the first round of three in its presidential election process. At last check, London's FTSE 100 is off 0.7%, the German DAX is down 0.6%, and the French CAC 40 is flirting with a 0.4% loss.

For an explanation of how to use this information, check out our Education Center topics on Option Volume and Open Interest Configurations.

The Dow Jones Industrial Average (INDEXDJX:DJI) is poised for another day of sharp losses, as oil's rout and Russia's woes continue to rile global markets. In fact, Russia's ruble hit another all-time low against the dollar, despite an unexpected overnight interest-rate hike by the country's central bank. Back on the homefront, the Federal Open Market Committee (FOMC) kicks off its two-day policy-setting meeting today -- the final one of 2014. Additionally, housing starts and Markit's flash purchasing managers manufacturing index (PMI) are set for release.

• It was a day for the record books as Russia's economic crisis worsened.
• Option bears are piling onto Oracle Corporation (NYSE:ORCL) ahead of tomorrow night's quarterly earnings report.
• Schaeffer's contributor Adam Warner takes a long, hard look at the impact oil volatility is having on stocks.

Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are nearly 69 points below fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1.23 million call contracts traded on Monday, compared to 920,988 put contracts. The resultant single-session equity put/call ratio fell to 0.75, while the 21-day moving average remained at 0.62.

Currencies and Commodities

• The U.S. dollar index is down 0.8% at 87.74.
• Crude oil has plunged 2.8% to trade at $54.67 per barrel.
• Gold is up 0.6% at $1,214.60 per ounce.

Earnings and Economic Data

The Federal Open Market Committee (FOMC) will kick off its two-day policy-setting meeting today. Also on the docket are data on housing starts and Markit's flash PMI. Darden Restaurants (DRI), FactSet (FDS), and Navistar (NAV) will report earnings.

Overseas Trading

Asian markets finished mostly lower today, following a report that showed manufacturing in China contracted for the first time in seven months. Stoking the bearish flames was an extended slide against the dollar for Russia's ruble, despite the country's central bank announcing a steep interest-rate hike. By the close, Japan's Nikkei was down 2%, Hong Kong's Hang Seng shed 1.6%, while South Korea's Kospi surrendered 0.9%. China's Shanghai Composite, meanwhile, rallied 2.3% after authorities gave the green light to a $31 billion infrastructure package.

European benchmarks are in the red at midday, as an extended slide in oil overshadows better-than-expected readings on business activity in both Germany and the broader eurozone. At last check, the French CAC 40 is off 1.6%, the German DAX is down 0.9%, and London's FTSE 100 is flirting with a 0.2% loss.

For an explanation of how to use this information, check out our Education Center topics on Option Volume and Open Interest Configurations.

After notching its worst weekly loss in three years last week, the Dow Jones Industrial Average (INDEXDJX:DJI) is ready to rally out of the gate. Traders appear to be taking a glass-half-full approach in the lead-up to the Federal Open Market Committee's (FOMC) latest policy decision, set for release on Wednesday afternoon. Ahead of this highly anticipated event, though, a pair of reports on factory activity, as well as pending home sales data, is due out today. Additionally, Wall Street will keep one eye trained on Australia, where hostages are being held in a Sydney cafe.

• Lululemon Athletica inc. (NASDAQ:LULU) continued its post-earnings tear on Friday, helped by a round of upbeat brokerage notes.
• 3 stocks that ended last week on a high note.
• In case you missed it, 14 stories from 2014 that captured Wall Street's attention.

Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are more than 95 points above fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1.09 million call contracts traded on Friday, compared to 855,211 put contracts. The resultant single-session equity put/call ratio rose to 0.79, while the 21-day moving average edged up to 0.62.

Currencies and Commodities

• The U.S. dollar index is up 0.2% at 88.51.
• Crude oil is down 0.1% at $58.01 per barrel.
• Gold has plunged 0.8% to $1,212.20 per ounce.

Earnings and Economic Data

The week starts off with a bang, with the Empire State manufacturing index, industrial production and capacity utilization, the National Association of Realtors' pending home sales index, and Treasury International Capital (TIC) all slated for release. FuelCell Energy (FCEL) and VeriFone (PAY) will report earnings.

Overseas Trading

Most Asian markets finished lower today, as disappointing data from Japan and a hostage crisis in Sydney weighed on investor sentiment. Specifically, a worse-than-expected reading on business sentiment in Japan overshadowed a snap-election victory for Prime Minister Shinzo Abe, sending the Nikkei to a 1.6% loss. Elsewhere, Hong Kong's Hang Seng settled down 1%, while South Korea's Kospi gave back 0.1%. China's Shanghai Composite managed to buck the regional bearish bias, tacking on 0.5%.

European bourses are modestly higher at midday, amid a rebound in energy stocks. At last check, the French CAC 40 is up 0.5%, London's FTSE 100 is flirting with a 0.4% lead, and the German DAX is 0.3% higher.

For an explanation of how to use this information, check out our Education Center topics on Option Volume and Open Interest Configurations.

The Dow Jones Industrial Average (INDEXDJX:DJI) is poised to drop out of the gate, as fears continue to brew over the long-term slump in energy prices -- including an unwelcome milestone for crude yesterday. Exacerbating worries is a new report from the International Energy Agency (IEA), which reduced next year's forecast for global oil demand growth. Looking ahead, traders are awaiting the latest producer price index (PPI) and the preliminary Thomson Reuters/University of Michigan consumer sentiment index for December.

• Option bulls targeted SodaStream International Ltd (NASDAQ:SODA), amid rumors PepsiCo, Inc. (NYSE:PEP) may buy a sizable stake in the company.
• RadioShack Corporation (NYSE:RSH) sunk to an all-time low following an earnings-induced sell-off.
• In case you missed it, our founder and CEO Bernie Schaeffer explains the broad-market importance of the 40 level when looking at the VelocityShares Daily Inverse VIX Short-Term ETN (XIV).

Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are more than 96 points below fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 928,958 call contracts traded on Thursday, compared to 664,359 put contracts. The resultant single-session equity put/call ratio edged down to 0.72, while the 21-day moving average ticked higher to 0.61.

Currencies and Commodities

• The U.S. dollar index is down 0.3% at 88.36.
• Crude oil has shed 1% at $59.61 per barrel.
• Gold edged 0.3% lower to $1,222.40 per ounce.

Earnings and Economic Data

The Thomson Reuters/University of Michigan consumer sentiment index and PPI come out today. There are no major earnings reports on the docket.

Overseas Trading

Asian bourses took their cue from yesterday's U.S. stock market rally, finishing mostly higher. Traders also priced in expectations for additional stimulus measures following a weaker-than-expected industrial production reading out of China. At the close, the Shanghai Composite was up 0.5%, with an assist from strong retail sales data for November. Meanwhile, Japan's Nikkei and South Korea's Kospi added 0.7% and 0.3%, respectively. Hong Kong's Hang Seng was the lone outlier, trimming 0.3%.

Equities in Europe are sharply lower at midday, pressured by a slumping energy sector, and amid unanswered calls for full-scale quantitative easing. London's FTSE 100 is off 1.3%, France's CAC 40 has shed 1.5%, and Germany's DAX has given back 1.2%.

For an explanation of how to use this information, check out our Education Center topics on Option Volume and Open Interest Configurations.

The Dow Jones Industrial Average (INDEXDJX:DJI) is sitting higher ahead of the bell, as November retail sales rose a stronger-than-forecast 0.7%, marking the fastest growth in eight months. Several other key reports are due out, too -- including weekly jobless claims and September business inventories -- which could provide potential catalysts. On the earnings front, Lululemon Athletica inc. (NASDAQ:LULU) is sitting solidly lower this morning, despite a third-quarter earnings beat, while Adobe Systems Incorporated (NASDAQ:ADBE) will step into the confessional this afternoon.

• These 2 airline stocks flew higher on positive attention from analysts.
• Broadcom Corporation (NASDAQ:BRCM) received a standing ovation from the brokerage bunch, following a number of fundamental developments.
• These option bulls placed upside bets on "Candy Crush" parent King Digital Entertainment PLC (NYSE:KING).

Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are roughly 57 points above fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1 million call contracts traded on Wednesday, compared to 743,328 put contracts. The resultant single-session equity put/call ratio slid to 0.74, while the 21-day moving average held steady at 0.60.

Currencies and Commodities

• The U.S. dollar index is off a slight 0.04% at 88.24.
• Crude oil has rebounded 0.7% at $61.38 per barrel.
• Gold has retreated 0.5% at $1,223.10 per ounce.

Earnings and Economic Data

Weekly jobless claims will come out today, along with retail sales figures, import and export prices, and business inventories. On the earnings front, ADBE and Ciena (CIEN) will report.

Overseas Trading

Asian equities fell once again, hit by tumbling oil prices and Japan's disappointing core machinery orders reading for October. Elsewhere, South Korea's central bank maintained its interest rates, as expected. By the close, Japan's Nikkei had given back 0.9%, with the yen bouncing back (relative to the dollar), and South Korea's Kospi was off 1.5%. Elsewhere, the Shanghai Composite and Hong Kong's Hang Seng dropped 0.5% and 0.9%, respectively.

European bourses are mixed, with traders divided on whether the European Central Bank (ECB) will launch a more extensive quantitative easing program. Around midday, France's CAC 40 is down 0.5%, amid a weaker-than-expected consumer price reading for November, while London's FTSE 100 has skidded 0.9%. Elsewhere, the German DAX is flirting with a 0.1% lead, after showing an unchanged inflation rate last month.

For an explanation of how to use this information, check out our Education Center topics on Option Volume and Open Interest Configurations.

The Dow Jones Industrial Average (INDEXDJX:DJI) is again headed lower, as traders process a modest recovery in European stocks and a choppy session for Asian bourses. On the economic front, the weekly crude inventories report is due out at 10:30 a.m. ET. Ahead of that release, the Organization of the Petroleum Exporting Countries (OPEC) cut its forecast for 2015 oil demand, sending crude futures reeling in early trading. Meanwhile, among companies reporting earnings, Costco Wholesale Corporation (NASDAQ:COST) beat expectations, while Toll Brothers Inc (NYSE:TOL) fell shy of the Street's consensus estimate.

• Puts continue to be popular on Intel Corporation (NASDAQ:INTC).
• Shares of this budget airline suffered their worst intraday loss in over two years, following weak November data.
• Qihoo 360 Technology Co Ltd (NYSE:QIHU) rebounded powerfully from an annual low, and option traders wagered on additional upside in early 2015.

Futures on the Dow Jones Industrial Average 2 Minute (INDEXDJX:.DJI) are roughly 53 points below fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 996,670 call contracts traded on Tuesday, compared to 774,691 put contracts. The resultant single-session equity put/call ratio jumped to 0.78, while the 21-day moving average edged up to 0.60.

Currencies and Commodities

• The U.S. dollar index is off a slight 0.02% at 88.67.
• Crude oil has tumbled 1.9% to $62.62 per barrel.
• Gold has given back 0.3% at $1,227.80 per ounce.

Earnings and Economic Data

The Treasury budget and weekly crude inventories make up today's docket. Avanir Pharmaceuticals (AVNR), Hovnanian (HOV), and Lands' End (LE) will report earnings.

Overseas Trading

Stocks in Asia finished the day mixed, as traders digested disappointing inflation numbers out of China, including a five-year low in the nation's consumer price index (CPI). Japan's government also released a survey showing a decline in optimism among manufacturers for the current and upcoming quarters. By the close, Japan's Nikkei had skidded to a 2.3% loss, and South Korea's Kospi was 1.3% lower. Meanwhile, the Shanghai Composite rebounded from an early session sell-off to close with a 3% gain, while Hong Kong's Hang Seng added a more modest 0.2%.

European markets are pointed higher, as stocks attempt to come back from Tuesday's losses. However, concerns are starting to brew in Eastern Europe, after the Ukrainian military said separatists failed to respect an agreed-upon ceasefire. Currently, London's FTSE 100 has tacked on 0.2%, France's CAC 40 is up 0.4%, and Germany's DAX is 0.6% higher.

For an explanation of how to use this information, check out our Education Center topics on Option Volume and Open Interest Configurations.

The Dow Jones Industrial Average (INDEXDJX:DJI) is poised to open sharply lower, following in the footsteps of its overseas peers -- including a more than 5% decline in China's benchmark index. The global sell-off was primarily sparked by a fresh five-year low in crude futures yesterday. This morning, the Bureau of Labor Statistics releases its October Job Openings and Labor Turnover (JOLTS) survey, which traders will be watching carefully ahead of next week's policy-setting meeting of the Federal Open Market Committee (FOMC). Wholesale inventories are also set to hit the Street today.

• With Tesla Motors Inc (NASDAQ:TSLA) exploring multi-month lows, short-term option bears came out in force yesterday.
• This credit card giant hit a record high on Monday, justifying Wall Street's confidence in the shares.
• Schaeffer's contributor Adam Warner consults the "Options Oracle" to get his take on the CBOE Volatility Index (VIX).

Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are roughly 128 points below fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1.2 million call contracts traded Monday, compared to 764,250 put contracts. The resultant single-session equity put/call ratio rebounded to 0.62, while the 21-day moving average held steady at 0.59.

Currencies and Commodities

• The U.S. dollar index is down 0.3% at 88.75.
• Crude oil has gained 1% to $63.67 per barrel.
• Gold has rallied 1.4% to $1,211.80 per ounce.

Earnings and Economic Data

The JOLTS employment report hits the Street today, along with wholesale inventories. AutoZone (AZO), Conn's (CONN), Krispy Kreme Doughnuts (KKD), Pep Boys (PBY), and UTI Worldwide (UTIW) will step into the earnings spotlight.

Overseas Trading

Markets in Asia slumped as crude continued to trend lower. China's Shanghai Composite was down by as much as 6% on profit-taking and fears the central bank will lower its 2015 gross domestic product (GDP) target, before settling 5.3% south of the flatline. Hong Kong's Hang Seng was the second biggest percentage decliner, shedding 2.3%. Meanwhile, Japan's Nikkei and South Korea's Kospi gave back 0.7% and 0.4%, respectively.

European bourses are taking their cue from the sell-off in Chinese stocks, paced by weakness in the mining and energy sectors. London's FTSE 100 is off 1.4% around midday, the German DAX has slipped 1.3%, and France's CAC 40 is down 1.5%.

For an explanation of how to use this information, check out our Education Center topics on Option Volume and Open Interest Configurations.

The Dow Jones Industrial Average (INDEXDJX:DJI) is pointed lower ahead of the bell, as traders digest weak data out of Asia and Morgan Stanley's reduced price outlook for Brent crude through 2018. On the homefront, the economic calendar is bare, though Atlanta Fed President Dennis Lockhart is scheduled to give a speech on the economic outlook and monetary policy at 12:30 p.m. ET. Meanwhile, Dow component Merck & Co., Inc. (NYSE:MRK) is grabbing headlines by agreeing to buy antibiotics maker Cubist Pharmaceuticals Inc (NASDAQ:CBST) for roughly $9.5 billion.

• How to profit from a volatility crush, courtesy of Ambarella Inc (NASDAQ:AMBA) traders.
• A bounce off the century mark had this drugmaker headed higher -- and option traders gambling on more upside.
• Should contrarians be worried about bullish sentiment heading into a historically strong period for stocks? Schaeffer's Senior Quantitative Analyst Rocky White investigates.

Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are nearly 45 points below fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 1.3 million call contracts traded Friday, compared to 663,258 put contracts. The resultant single-session equity put/call ratio dropped to 0.50, while the 21-day moving average edged down to 0.59.

Currencies and Commodities

• The U.S. dollar index is up a slim 0.04% at 89.38.
• Crude oil is 2.1% lower at $64.47 per barrel.
• Gold is off 0.5% at $1,196.50 per ounce.

Earnings and Economic Data

There are no notable economic reports today. Diamond Foods (DMND), H & R Block (HRB), and Vail Resorts (MTN) will release earnings.

Overseas Trading

Asian stocks ended mostly higher, despite a generally disappointing round of economic data. Chinese imports and exports unexpectedly slowed in November -- though the nation's trade surplus hit its highest mark in 14 years -- while Japan's revised third-quarter gross domestic product shrank more than originally expected. By the close, China's Shanghai Composite settled at a three-year peak, rising 2.9%. Japan's Nikkei and Hong Kong's Hang Seng tacked on 0.1% and 0.2%, respectively. The lone outlier was South Korea's Kospi, which gave back 0.4%.

European markets are generally lower around midday, pressured by weakness in construction and energy stocks. London's FTSE 100 is down 0.8%, while the French CAC 40 has given back 0.7%. Meanwhile, Germany's DAX has slipped 0.5%, following Chancellor Angela Merkel's attack on Russian President Vladimir Putin for "creating problems" in Georgia and Moldova.

For an explanation of how to use this information, check out our Education Center topics on Option Volume and Open Interest Configurations.

Futures on the Dow Jones Industrial Average (INDEXDJX:DJI) are pointed higher this morning, as the blue-chip barometer takes aim at its seventh consecutive weekly win. Today's focus will be trained on this morning's nonfarm payrolls report from the Labor Department. While the economy is expected to have added more than 200,000 jobs last month -- and the unemployment rate to be unchanged -- Wall Street will be keeping a close eye on average hourly wages. This metric, which is considered key in the Federal Reserve's rate-hike timeline, is expected to rise 2.1%. Also on the day's docket are international trade data and factory orders.

• Things just keep getting worse for Peabody Energy Corporation (NYSE:BTU), but put players remain divided.
• Option traders are rolling the dice on a big bounce for this Internet security specialist.
• In case you missed it, with the S&P 500 Index (SPX) on pace to notch a win in the week after Black Friday, our Senior Quantitative Analyst Rocky White explains what this could mean for stocks going forward.

Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are nearly 27 points above fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 876,429 call contracts traded Thursday, compared to 579,656 put contracts. The resultant single-session equity put/call ratio rose to 0.66, while the 21-day moving average remained at 0.60.

Currencies and Commodities

• The U.S. dollar index is up 0.2% at 88.85.
• Crude oil is on pace to extend Thursday's losses, down 0.6% at $66.43 per barrel.
• Gold is poised to test its mettle atop the $1,200 mark, and is 0.6% lower at $1,200.20 per ounce.

Earnings and Economic Data

November's nonfarm payrolls report and unemployment figures, the international trade balance, and factory orders close out the week's economic news. Big Lots (BIG) will reveal its earnings.

Overseas Trading

Markets in Asia closed out the week on a strong note, ahead of today's nonfarm payrolls report in the U.S. A 1.4% rise for China's Shanghai Composite and a 0.2% gain for Japan's Nikkei boosted both indexes to fresh multi-year peaks. Elsewhere, Hong Kong's Hang Seng tacked on 0.7%, while South Korea's Kospi edged up 0.01 point to settle at a two-month high.

Across the pond, stocks are gaining ground at midday, amid indications the European Central Bank (ECB) could announce a new round of stimulus measures in early 2015. This speculation is overshadowing a sharply reduced 2015 growth outlook by Germany's Bundesbank, which also cut its forecast for the current year. At last check, the German DAX is up 1.4%, the French CAC 40 is flirting with a 1.3% lead, and London's FTSE 100 is 0.8% higher.

For an explanation of how to use this information, check out our Education Center topics on Option Volume and Open Interest Configurations.