Earnings Season Highlights

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A collection of noteworthy post-earnings reactions
Published on Jul 2, 2015 at 4:26 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Market Recap

After jumping out of the gate, the Dow Jones Industrial Average (DJIA) fell below breakeven before noon, and never recovered. The underwhelming nonfarm payrolls report set the tone for the day, while traders continued to weigh strong words from Greek Prime Minister Alexis Tsipras ahead of the country's referendum on Sunday. Against this backdrop, the DJIA broke its two-day win streak, finishing the holiday-shortened week deep in the red. While trading volume was predictably anemic ahead of the long weekend, activity could pick up next week, with the unofficial start to second-quarter earnings season set for Wednesday night. 

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

The Dow Jones Industrial Average (DJIA - 17,730.11) spent most of the day below breakeven, trading within a roughly 140-point range before ending 27.8 points, or 0.2%, lower. Eleven of the DJIA's 30 components ended higher, led by Intel Corporation's (NASDAQ:INTC) 1.2% gain. DuPont's (NYSE:DD) 2.3% drop paced the 19 losers. For the week, the Dow fell 1.2%. 

The S&P 500 Index (SPX - 2,076.78) stumbled 0.6 point, or 0.03%. The Nasdaq Composite (COMP - 5,009.21) was slightly worse off, sliding 3.9 points, or 0.08%. On a weekly basis, the SPX gave up 1.2%, while the COMP dropped 1.4%. 

The CBOE Volatility Index (VIX - 16.79) notched a slight uptick, gaining 0.7 point, or 4.4%, to close above its 40-week moving average for the first time since late March. Week-to-date, the "fear gauge" gained 19.8%. 

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5 Items on Our Radar Today:

  1. The latest nonfarm payrolls report revealed unemployment is now at its lowest point in seven years. However, the 223,000 jobs created in the U.S. during June arrived below economists' expectations of 230,000. (MarketWatch
  2. BP plc (NYSE:BP) has reportedly reached a settlement with five states over the 2010 Deepwater Horizon oil spill. The settlement is worth $18.7 billion, and still needs to be approved by a federal judge. (AP ​via ​ABC News​
  3. If history is any indicator, these three stocks could have a huge third quarter
  4. Bears aren't done betting on this flailing coal concern. 
  5. Tesla Motors Inc (NASDAQ:TSLA) beat expectations with its Model S sales numbers

 

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Commodities:

Crude dipped lower today, tracking weakness in equities in the wake of Wednesday's bearish inventories report. Oil dated for August fell 3 cents, or 0.05%, to $56.93 per barrel. On the week, crude dropped 4.5%. 

For the third straight day, gold closed lower, as traders continue to speculate on a resolution in Greece. August-dated gold gave back $5.80, or 0.5%, to hit $1,163.50 per ounce -- its lowest close in over three months. Week-to-date, gold was 0.8% lower. 

Published on Jul 6, 2015 at 8:48 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Opening View
  • Ezines

The Dow Jones Industrial Average (DJIA) is on pace to take a major hit today, with futures sharply lower after the people of Greece on Sunday voted against the bailout terms set forth by the country's creditors -- raising fears of a possible "Grexit" from the eurozone, as banks in the nation remain closed. However, controversy-courting Finance Minister Yanis Varoufakis resigned, removing one major obstacle to a deal with international lenders. Looking ahead, eurozone leaders will meet tomorrow in Greece, as the European Central Bank (ECB) weighs how long it should maintain emergency funding to the country's financial institutions.

Back at home, there's not much to distract traders from the uncertainty in Europe. The only item on today's economic docket is the Institute for Supply Management's (ISM) services index.

 

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

 

And now, on to the numbers…

150706Futures

Futures on the Dow Jones Industrial Average (DJIA) are 144.1 points below fair value. 

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 591,448 call contracts traded on Thursday, compared to 412,949 put contracts. The resultant single-session equity put/call ratio jumped to 0.70, while the 21-day moving average remained at 0.64.

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Currencies and Commodities

  • The U.S. dollar index has moved 0.4% higher to 96.48. 
  • Crude oil is off 4.8% to $54.22 per barrel. 
  • Gold is up 0.06% at $1,164.20 per ounce. 

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Earnings and Economic Data

 

The economic calendar kicks off this week with the release of the ISM services index. It's a light day for earnings, with only A. Schulman (SHLM) set to report. To see what else is on this week's agenda, click here.

 

Overseas Trading

 

For a breakdown of today's trading in Asia and Europe, including new efforts by Beijing to stem a sell-off in Chinese stocks, read Overseas Trading: Stocks Fall on 'Grexit' Fears; Chinese Government Steps In.

 

 

Unusual Put and Call Activity

 

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Published on Jul 6, 2015 at 12:00 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Ezines
  • Midday Market Check

The Dow Jones Industrial Average (DJIA) dropped triple digits out of the gate, as traders digested Greek voters' rejection of creditors' bailout terms. However, U.S. stocks have since pared their losses -- and even flirted with positive territory -- perhaps encouraged by the resignation of Greek Finance Minister Yanis Varoufakis ahead of several key meetings of eurozone leaders. Traders may also be inspired by a rally among biotechs, a jump in the Institute for Supply Management's (ISM) services index, and the latest round of big-cap M&A action, headlined by Humana Inc (NYSE:HUM) -- and maybe even this weight management name.

Continue reading for more on today's market -- and don't miss:

 

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Among the stocks with notable options activity is Qihoo 360 Technology Co Ltd (NYSE:QIHU). Despite a rally in China, U.S.-listed shares of QIHU and its sector peers are lower at midday. Specifically, QIHU is down 5.1% at $63.87, after the firm said it retained a financial advisor to consider going private. Against this backdrop, QIHU puts are trading at three times the average intraday rate, with potential buy-to-open activity transpiring at the deep out-of-the-money September 55 put.

One of the top losers on the Nasdaq is commodity concern Horsehead Holding Corp. (NASDAQ:ZINC). The stock was last seen 16.8% lower at $9.53, and earlier touched a two-year low of $8.33, after BB&T downgraded the shares to "hold," citing disappointing production at the firm's Mooresboro, North Carolina, unit.

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One of the top gainers on the Nasdaq is biotech Versartis Inc (NASDAQ:VSAR). The equity is up 27.1% at $18.58, after the Food and Drug Administration removed a partial clinical hold on the firm's investigational drug application for VRS-317.

The CBOE Volatility Index (VIX) is up 0.6 point, or 3.7%, at 17.41.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 2.62, with puts more than doubling calls. At last check, the SPY was down 0.5 point, or 0.3%, at $206.80.

Published on Jul 6, 2015 at 4:21 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Market Recap
  • Ezines
With little in the way of earnings or economic data for traders to digest, minus an uptick in service-sector activity, speculators took in a number of overseas developments -- including a high-profile, post-vote resignation in Greece and a fresh round of stimulus measures in China -- as well as the biggest insurance merger on record and crude's steep sell-off. Against this backdrop, and ahead of more wheeling and dealing in Europe, the Dow Jones Industrial Average (DJIA) explored a 170-point range, eventually succumbing to a modest loss.

 

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

 

Despite a brief trek north of breakeven mid-morning, the Dow Jones Industrial Average (DJIA - 17,683.58) spent the session in the red, settling down 46.5 points, or 0.3%. Twenty-four of the Dow's 30 components closed lower, led by General Electric Company's (NYSE:GE) 1.8% drop. Wal-Mart Stores, Inc. (NYSE:WMT) paced the six advancers with its 0.9% gain.

 

The S&P 500 Index (SPX - 2,068.76) traded in a more than 20-point range, eventually closing down 8 points, or 0.4%. The Nasdaq Composite (COMP - 4,991.94), meanwhile, gave back 17.3 points, or 0.3%, to settle back below the 5,000 mark.

 

Following last week's big moves, the CBOE Volatility Index (VIX - 17.01) edged up 0.2 point, or 1.3%.

 

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5 Items on Our Radar Today:

 

  1. Greece dominated headlines today, after the country over the weekend voted "no" to its creditors' austerity demands. Ahead of tomorrow's emergency meeting of eurozone finance ministers, German Chancellor Angela Merkel and French President Francois Hollande have given Greek Prime Minister Alexis Tsipras an eleventh-hour chance to avoid a "Grexit," with Merkel claiming "time is running out." (Bloomberg)
  2. At a meeting between Iran, Britain, China, France, Germany, Russia, and the U.S. today, Tehran held up a critical nuclear arms deal, insisting U.N. sanctions on the country's ballistic missiles be lifted. The parties are expected to meet again ahead of tomorrow's deadline. (Reuters)
  3. To celebrate its 20th anniversary, AMZN is offering Prime members massive deals next Wednesday. In the options pits, meanwhile, short-term speculators are already snagging deals.
  4. Option traders set their sights on the Global X FTSE Greece 20 ETF (NYSEARCA:GREK), and amid all the uncertainty, buyers were willing to pay a pretty penny.
  5. Schaeffer's contributor Adam Warner took a closer look at last week's big VIX pop.

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 Commodities:

 

Growing uncertainty from overseas and a potential nuclear deal with Iran smacked crude oil today. By the close, crude for August delivery was off $4.40, or 7.7%, at $52.53 per barrel -- its lowest close since mid-April, and biggest drop since early February.

 

Gold futures, meanwhile, capitalized on its safe-have status, with the August-dated contract settling up $9.70, or 0.8%, at $1,173.20 per ounce.

Published on Jul 7, 2015 at 8:42 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Opening View

After two straight days of losses, the Dow Jones Industrial Average (DJIA) is fighting for a positive start this morning, with futures moving higher. This potentially strong start runs counter to the action overseas, where European equities remain derailed by Greece's financial situation, even as eurozone leaders meet today to discuss more options. Back on the home front, there are several economic reports slated for release today, ahead of the unofficial kick-off of second-quarter earnings season tomorrow. 

 

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

 

And now, on to the numbers…

150707Futures

Futures on the Dow Jones Industrial Average (DJIA) are 53.4 points above fair value. 

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 689,268 call contracts traded on Monday, compared to 446,441 put contracts. The resultant single-session equity put/call ratio edged down to 0.65, while the 21-day moving average increased to 0.65.

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Currencies and Commodities
  • The U.S. dollar index is up 0.7% at 96.94.
  • Crude oil is off 0.2% at $52.44 per barrel.
  • Gold is down 0.8% at $1,164.00 per ounce. 

 

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Earnings and Economic Data

 

U.S. trade data is due out today, along with the Labor Department's Job Openings and Labor Turnover Survey (JOLTS) and the Fed's monthly consumer credit report. The Container Store (TCS) and MSC Industrial (MSM) will report their quarterly results. To see what else is on this week's agenda, click here.

 

Overseas Trading

 

For a breakdown of today's trading in Asia and Europe, including a continued slide for Chinese equities, read Overseas Trading: Shanghai Stocks Back in Sell-Off Mode

 

 

Unusual Put and Call Activity

 

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Published on Jul 7, 2015 at 12:15 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Midday Market Check
  • Ezines

The Dow Jones Industrial Average (DJIA) is off triple digits -- and the S&P 500 Index (SPX) has fallen into negative year-to-date territory -- as eurozone officials wrapped up an emergency summit in Brussels without a resolution to Greece's debt crisis. Athens officials arrived at the meeting without a new written bailout proposal (though they're expected to submit a request through the European Stability Mechanism as early as tomorrow), while German Chancellor Angela Merkel said the timetable for a deal is down to "a matter of days."

Stateside, traders are digesting a round of mixed economic data and sinking commodity prices. In addition, the International Monetary Fund (IMF) once again called on the Fed to wait until early next year to hike interest rates, for fear of stalling the U.S. economy. The central bank's meeting minutes are slated for release tomorrow.

 

Continue reading for more on today's market -- and don't miss:

 

 

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Among the stocks with notable option volume is Ctrip.com International, Ltd. (ADR) (NASDAQ:CTRP), with contracts running at 13 times the expected intraday average. The stock earlier landed on the short-sale restricted (SSR) list, and was down 3.7% at last check, at $68.90. Option traders are banking on a bounce, however, buying to open CTRP's out-of-the-money December 80 call, with nearly 9,000 contracts currently on the tape.

 

Among the top gainers on the Nasdaq is drugmaker Depomed Inc (NASDAQ:DEPO), which has soared 36.6% to $28.20, and earlier touched a record high of $28.75. The breakout is the result of Horizon Pharma PLC's (NASDAQ:HZNP) hostile takeover bid, which values DEPO at $29.25 per share.

 

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Among the leading losers on the Big Board is 500.com Ltd (NYSE:WBAI), down 18.5% at $17.49, and on the SSR list. In fact, a number of U.S.-listed Chinese stocks are plummeting amid the Shanghai Composite's resumed downtrend.

 

The CBOE Volatility Index (VIX) is up 1.4 points, or 8.4%, at 18.44.

 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 2.22, with puts more than doubling calls. At last check, SPY was down 1.5 points, or 0.7%, at $205.23.

Published on Jul 7, 2015 at 4:27 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Ezines
  • Market Recap
The Dow Jones Industrial Average (DJIA) spent almost the entire session in the red, with continued anxiety around Greece and China sending the blue-chip barometer down about 218 points at its session low. Specifically, Greece's apparent lack of effort and the Shanghai Composite's slump -- not to mention a drop in commodity prices -- had traders hitting the bricks en masse. This skepticism also took an early toll on the S&P 500 Index (SPX) and Nasdaq Composite (COMP), which were staring at significant losses for most of the day. A late-day burst of buying power helped all three indexes settle higher, though, with the SPX clawing its way back above its year-to-date breakeven mark by the close. Tomorrow could be a volatile one, too, with a number of Federal Reserve officials slated to speak and the Federal Open Market Commitee's (FOMC) June meeting minutes set for release.

 

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

 

 

The Dow Jones Industrial Average (DJIA - 17,776.91) tracked a nearly 328-point range today -- and explored both sides of breakeven -- before closing up 93.3 points, or 0.5%. Twenty-two of the DJIA's 30 components settled higher, led by 2.1% pops for The Coca-Cola Co (NYSE:KO) and Procter & Gamble Co (NYSE:PG). DuPont (NYSE:DD) paced the eight decliners with its 1.5% drop.

 

The S&P 500 Index (SPX - 2,081.34) breached its 200-day moving average for the first time since Oct. 20 in intraday action, but eventually settled with a 12.6-point, or 0.6%, gain. The Nasdaq Composite (COMP - 4,997.46) was off nearly 90 points at its intraday low, but climbed to a 5.5-point, or 0.1%, win -- stopping just short of the 5,000 mark.

 

The CBOE Volatility Index (VIX - 16.09) stopped squarely at the critical 19.20 mark in intraday action, before closing with a 0.9 point, or 5.4%, loss.

 

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5 Items on Our Radar Today:

 

  1. Following Thursday's lackluster payrolls report, the Labor Department's latest JOLTS data indicated the number of job openings hit a 14-year high of 5.4 million in May. Elsewhere on the economic front, the Commerce Department said the U.S. trade deficit grew $1.2 billion to $41.9 billion in May, amid a decline in exports and a strengthening dollar. (USA Today; Reuters)
  2. At today's meeting with German Chancellor Angela Merkel, French President Francois Hollande, and head of the European Commission Jean-Claude Juncker, Greek Prime Minister Alexis Tsipras reportedly requested interim financing for the debt-plagued country through the end of July. Earlier, Greece arrived at an emergency summit without any fresh proposals for a new deal. (MarketWatch)
  3. AMD fell more than 15% -- and hit a two-year low along the way -- after the firm's dismal outlook was met with bearish backlash from the brokerage bunch.
  4. 3 tumbling commodity names.
  5. Both Sunedison Inc (NYSE:SUNE) and Pinnacle Entertainment, Inc (NYSE:PNK) popped in the wake of their respective M&A news.

 

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Commodities:

 

Crude oil teetered near bear-market territory as anxiety over Greece, China, and Iran ramped up. However, liquid gold pared a significant portion of these losses in late trading, and, at the close, August-dated crude was down just 20 cents, or 0.4%, at $52.33 per barrel.

 

A strengthening dollar and concerns about China pressured gold futures today. By session's end, gold for August delivery was off $20.60, or 1.8%, at $1,152.60 per ounce -- its lowest close since mid-March. September-dated silver and copper, meanwhile, dropped to levels not seen since 2009.

Published on Jul 8, 2015 at 8:39 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Opening View

Futures on the Dow Jones Industrial Average (DJIA) are pointed starkly lower this morning, as overseas tumult looks ready to weigh on domestic equities. Primarily, Chinese markets got walloped today, with many concerned the sell-off will only get worse. Elsewhere, Greece has until the end of the week to submit a formal financial reform proposal to its creditors. European leaders will make a decision on the submission on Sunday. 

On the domestic front, the minutes from the Federal Open Market Committee's (FOMC) latest meeting are set for release this afternoon. Traders are also anxious to see the latest crude inventory report, which -- along with other commodities -- has had a rough week.  

 

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

 

And now, on to the numbers…

150708Futures

Futures on the Dow Jones Industrial Average (DJIA) are 141.9 points below fair value.

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 877,764 call contracts traded on Tuesday, compared to 683,815 put contracts. The resultant single-session equity put/call ratio rose to 0.78, while the 21-day moving average remained at 0.65.

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Currencies and Commodities

  • The U.S. dollar index is off 0.3% at 96.62. 
  • Crude oil has added 0.4% to trade at $52.55 per barrel. 
  • Gold is up 0.3% at $1,155.90 per ounce. 

 

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Earnings and Economic Data

 

The minutes from the FOMC's June meeting will be released this afternoon, and traders will also hear the latest on crude inventories. San Francisco Fed President John Williams is the first in a long line of central bankers to hit the podium this week, with an afternoon speech in Los Angeles on the docket.

Meanwhile, Alcoa's (AA) post-close report marks the unofficial start of second-quarter earnings season. WD-40 (WDFC) is also set to announce its latest profit and revenue figures. To see what else is on this week's agenda, click here.

 

Overseas Trading

 

For a breakdown of today's trading in Asia and Europe, including the latest on Greece and the sell-off in China, read China's Free Fall Drags Asian Markets Lower

 

Unusual Put and Call Activity

 

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Published on Jul 8, 2015 at 12:01 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Midday Market Check
  • Ezines

The Dow Jones Industrial Average (DJIA) is down more than 175 points amid panic in Chinese markets and uncertainty over Greece's future. Earlier, Greece officially requested a three-year loan from the European Stability Mechanism, though a more thorough reform proposal is expected later this week. The country could face bankruptcy or an exit from the eurozone if a deal with creditors isn't reached by Sunday. On the home front, the New York Stock Exchange (NYSE) temporarily suspended trading due to an apparent technical glitch -- something that also rocked this airline earlier. Looking ahead, the Fed's June meeting minutes are due out this afternoon, and Alcoa Inc (NYSE:AA) will unofficially kick off earnings season tonight -- which could have broad-market implications.

 

Continue reading for more on today's market -- and don't miss:

 

 

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Among the stocks with notable option volume is AA, which heads to the earnings confessional tonight. At last check, the contracts were running at triple the average intraday rate, with possible buy-to-open action transpiring at the weekly 7/10 and July 11-strike calls. On the charts, AA is down 3.8% at $10.64.

 

One of the top losers on the Big Board is China Zenix Auto International Ltd (NYSE:ZX), which has plummeted 18.8% to trade at $0.82 amid a sell-off in Chinese stocks. Earlier, shares of the wheel manufacturer touched a record low of $0.75.

 

One of the notable gainers on the Nasdaq is e-commerce issue Etsy Inc (NASDAQ:ETSY), up 6.4% at $14.17 despite the absence of a clear driver. In fact, the shares are on track to close above their descending 10-day moving average for the first time since mid-June.

 

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The CBOE Volatility Index (VIX) is up 2.4 points, or 14.6%, at 18.44.

 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 2.34, with puts more than doubling calls. SPY was last seen off 2.9 points, or 1.4%, at $205.13.

Published on Jul 8, 2015 at 4:28 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Market Recap
  • Ezines
The Dow Jones Industrial Average (DJIA) moved into the red of the gate and never looked back. At its session low, the blue-chip barometer was off almost 281 points -- and marked its lowest settlement since early February. Growing anxiety over Greece's fiscal state and China's free fall stoked the skittish flames, as did a nearly four-hour trading halt on the Big Board. As traders hit the exits, the CBOE Volatility Index (VIX) jumped, and both the S&P 500 Index (SPX) and Nasdaq Composite (COMP) sold off sharply -- the former falling south of its 10-month moving average.

 

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

 

 

The Dow Jones Industrial Average (DJIA - 17,515.42) was down as much as 281 points, before closing with a 261.5-point, or 1.5%, loss -- and at its lowest settlement since Feb. 2. All 30 Dow components finished in the red, paced by AAPL's 2.5% plunge.

 

The S&P 500 Index (SPX - 2,046.69) gave back 34.7 points, or 1.7% -- and closed just 2 points off its intraday low, and in negative year-to-date territory. The Nasdaq Composite (COMP - 4,909.76) fared the worst of its peers, settling down 87.7 points, or 1.8%.
 

The CBOE Volatility Index (VIX - 19.66) surged 3.6 points, or 22.2%, and closed above the critical 19.20 mark for the first time since Feb. 2.

 

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5 Items on Our Radar Today:

 

  1. The minutes from the latest Federal Open Market Committee (FOMC) meeting indicated all but one Fed official needs "to see more evidence that economic growth was sufficiently strong" before raising interest rates. Specifically, members of the FOMC cited instability in Greece and China as major risks. (Bloomberg)
  2. Greece submitted a request to the European Stability Mechanism for a new three-year loan. However, the country failed to include any specifics for a new bailout proposal, saying it will present those tomorrow -- the final deadline imposed by eurozone leaders, who will then make a decision Sunday. (The New York Times)
  3. Early this morning, United Continental Holdings Inc (NYSE:UAL) suspended flights due to a network connectivity error. Shortly after this issue was resolved, the New York Stock Exchange (NYSE) halted trading following a technical glitch of its own. The Big Board eventually reopened after being shuttered for nearly four hours. Both organizations denied hackers were involved, but the fear was enough to send some cybersecurity names higher.
  4. China's turmoil is having a devastating effect on these 2 exchange-traded funds.
  5. Microsoft Corporation (NASDAQ:MSFT) took a hatchet to its payroll.

 

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Commodities:

 

Crude oil closed a fifth straight session lower, after the Energy Information Administration (EIA) showed an unexpected rise in inventories. At the close, August-dated crude was off 68 cents, or 1.3%, at $51.65 per barrel -- its lowest close since April 10.

 

A cooling dollar and a steep sell-off in the equities market sent gold futures rebounding today. At session's end, gold for August delivery was up $10.90, or 1%, at $1,163.50 per ounce.

 

Published on Jul 9, 2015 at 8:47 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Opening View

Like yesterday, Dow Jones Industrial Average (DJIA) futures are tracking global markets. This time, however, it's to the upside, with the blue-chip barometer prepared for a triple-digit leap after stocks in China notched a significant turnaround. And, as always, traders are watching Greece. The country is expected to submit a plan for financial reforms to European leaders by the end of the day.

Aside from today's report on jobless claims, the economic docket the next two days is dominated by speeches from Federal Reserve leaders -- including Fed Chair Janet Yellen, who will speak in Cleveland tomorrow. Meanwhile, earnings bellwether Alcoa Inc (NYSE:AA) has been bouncing between positive and negative territory in electronic trading following its mixed second-quarter results, with the aluminum giant falling short on profits, but topping revenue estimates.

 

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

 

And now, on to the numbers…

150709Futures

Futures on the Dow Jones Industrial Average (DJIA) are 168.6 points above fair value. 

Market Statistics

The Chicago Board Options Exchange (CBOE) saw 647,140 call contracts traded on Wednesday, compared to 560,924 put contracts. The resultant single-session equity put/call ratio jumped to 0.87 -- its second-highest mark of 2015 -- while the 21-day moving average moved up to 0.67.

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 Currencies and Commodities

  • The U.S. dollar index has edged higher, adding 0.1% to 96.38.
  • Crude oil is up 3% at $53.18 per barrel. 
  • Gold is off 0.1% at $1,161.90 per ounce. 

 

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Earnings and Economic Data

 

Weekly jobless claims will be released today, as usual. Otherwise, Fed officials dominate the day's schedule, with speeches due out from Minneapolis Fed President Narayana Kocherlakota, Kansas City Fed President Esther George, and Fed Governor Lael Brainard.

Additionally, a handful of notable names are expected to report earnings -- including PepsiCo (PEP), Walgreens Boots Alliance (WBA), PriceSmart (PSMT), and Barracuda Networks (CUDA). To see what else is on this week's agenda, click here.

 

Overseas Trading


For a breakdown of today's trading in Asia and Europe, including how Chinese stocks were able to turn things around, read Overseas Trading: Shanghai Composite Rallies as Regulators Crack Down on Selling

 

 

Unusual Put and Call Activity

 

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Published on Jul 9, 2015 at 12:00 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Midday Market Check
  • Ezines

The Dow Jones Industrial Average (DJIA) is sporting a triple-digit advance -- and was up by nearly 250 points at its intraday peak -- as China's massive rebound has helped ease anxiety across Wall Street. Also, the S&P 500 Index (SPX) has managed to claw its way back into positive year-to-date territory.

As traders await the latest news on Greece, they're digesting a number of encouraging earnings reports, a larger-than-expected uptick in jobless claims, an oil rebound, and remarks from a pair of Fed officials -- including Minneapolis Fed President Narayana Kocherlakota, who said monetary policy is "insufficiently accommodative" to meet the central bank's inflation and employment goals. Finally, the International Monetary Fund (IMF) trimmed its global growth projection to 3.3% from 3.5%.

 

Continue reading for more on today's market -- and don't miss:

 

 

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Among the stocks with notable put volume is tech firm F5 Networks, Inc. (NASDAQ:FFIV), where the contracts are crossing at 14 times the usual intraday rate. Most active are the weekly 7/24 115 and 119 strikes, which are seeing buy-to-open action, as traders gamble on losses by expiration at the close on Friday, July 24 -- just two days after the company reports earnings. At last check, FFIV was 0.1% lower at $117.73.

 

One of the top gainers on the Big Board is 500.com, Ltd (NYSE:WBAI), as a number of U.S.-listed Chinese stocks bounce back amid government intervention. Shares of the sports lottery provider have surged 18.5% to $20.16, bringing them back into positive year-to-date territory.

 

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One of the biggest losers on the Big Board is beauty products marketer Coty Inc (NYSE:COTY), down 5.8% at $29.68. The drop follows on the company's $12.5 billion purchase of Procter & Gamble's (NYSE:PG) Clairol and Wella brands, confirming earlier speculation.

 

The CBOE Volatility Index (VIX) is off 1.4 points, or 7.1%, at 18.26.

 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.67, with puts outstripping calls. At last check, SPY was up 1.9 points, or 0.9%, at $206.42.

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