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Japanese stocks rallied on strong export data
Futures on the Dow Jones Industrial Average (INDEXDJX:DJI) are pointed slightly higher, following the lead of their overseas counterparts on reports that the European Central Bank (ECB) may buy corporate bonds later this year to boost the eurozone economy. Stateside, on the earnings front, The Boeing Company (NYSE:BA) is down in electronic trading, despite stronger-than-expected earnings results. This evening, AT&T Inc. (NYSE:T) and Yelp Inc (NYSE:YELP) will both step into the confessional.
And now, on to the numbers...
Futures on the Dow Jones Industrial Average (INDEXDJX:.DJI) are more than 20 points above fair value.
Market Statistics
The Chicago Board Options Exchange (CBOE) saw 1.36 million call contracts traded on Tuesday, compared to 821,370 put contracts. The resultant single-session equity put/call ratio edged higher to 0.60, while the 21-day moving average remained at 0.70.
Currencies and Commodities
- The U.S. dollar index is up 0.1% at 85.41.
- Crude oil has tacked on 0.2% to $82.68 per barrel.
- Elsewhere, gold has shed 0.3% to $1,248.30 per ounce.
Earnings and Economic Data
The latest MBA mortgage index will be released today, along with the consumer price index (CPI), core CPI, and the regularly scheduled crude inventories data. T, BA, General Motors (GM), Yelp, Abbott Laboratories (ABT), Angie's List (ANGI), BE Aerospace (BEAV), Black & Decker (SWK), Cheesecake Factory (CAKE), Citrix Systems (CTXS), Dow Chemical (DOW), EMC Corporation (EMC), Lumber Liquidators (LL), Norfolk Southern (NSC), Sallie Mae (SLM), Skechers (SKX), Thermo Fisher Scientific (TMO), Tractor Supply (TSCO), and Xerox (XRX) will unveil earnings.
Overseas Trading
Stocks in Asia largely followed the lead of their U.S. counterparts, getting an additional lift on news of potential bond-buying measures by the ECB. Strong September trade data -- including a seven-month high in exports -- boosted Japan's Nikkei, which rose 2.6%. Elsewhere, Hong Kong's Hang Seng and South Korea's Kospi advanced 1.4% and 1.1%, respectively. The lone outlier was China's Shanghai Composite, which lost 0.6% ahead of tomorrow's HSBC flash manufacturing purchasing managers index (PMI).
European indexes are slightly higher on the aforementioned stimulus speculation, despite financial names feeling the pressure ahead of ECB stress test results, due out Sunday. London's FTSE 100 and France's CAC 40 are both up 0.1%, while Germany's DAX has added 0.2%.
Unusual Put and Call Activity:
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