Futures on the Dow Jones Industrial Average (DJIA) are trading
flat with fair value this morning, as Wall Street holds its breath
ahead of this morning's August nonfarm payrolls and unemployment
rate. S&P 500 Index (SPX) futures are also indicating no change
ahead of the report. Economists are expecting a decline of 105,000
jobs, with a net increase of 30,000 private-sector jobs. The
unemployment rate is seen rising to 9.6%. Both the DJIA and the SPX
come into today trading above their respective 50-day moving
averages. Additionally, the Dow is facing support at 10,150 and
resistance at 10,450, while the SPX should find a floor near 1,080
and a ceiling near 1,100. Finally, the CBOE Market Volatility Index
(VIX) closed below its 200-day moving average on Thursday. VIX
watchers should keep an eye on this trendline, as well as
resistance near the 28-29 level, should today's economic data
disappoint.
HRB
Finally, Take-Two Interactive Software Inc. (
TTWO
) reported a surprise profit for the July quarter thanks to strong
demand for "Red Dead Redemption" and other video game titles. For
the third quarter, TTWO reported non-GAAP third-quarter earnings of
$26 million, or 28 cents per share, as sales jumped more than 273%
to $354.1 million. Analysts were expecting a loss of 9 cents per
share on a non-GAAP basis on sales of $294.7 million.
Earnings Preview
On the earnings front, Campbell Soup Co. (
CPB
) will release its quarterly earnings report today. Keep your
browser at
SchaeffersResearch.com
for more news as it breaks.
Economic Calendar
The report Wall Street has been waiting for all week, with the
Labor Department's numbers on nonfarm payrolls and the unemployment
rate in August, will arrive later this morning, as will the
Institute for Supply Management's services index for August.
Market Statistics
Equity option activity on the Chicago Board Options Exchange (
CBOE
) saw 1,026,434 call contracts traded on Thursday, compared to
580,990 put contracts. The resultant single-session put/call ratio
arrived at 0.57, while the 21-day moving average held at 0.63.
**The volume data shown above is from the Nasdaq and NYSE
exchanges only. It does not include regional volume activity,
which means that other daily volume quotes you see may be
higher.**
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Overseas Trading
Overseas trading is cautiously higher this morning, with seven
of the 10 foreign indexes that we track in positive territory. The
cumulative average return on the collective stands at a gain of
0.24%. In Asia, sentiment was boosted by an unexpected rise in U.S.
pending home sales, while Japanese stocks extended their rally to
three days on the strength in exporters. A rise in retail sales
volumes in the euro zone is helping to buoy regional markets in
Europe this morning, though activity remains muted ahead of
unemployment and August jobs data in the U.S.
Currencies and Commodities
Currencies and commodities traders are playing it relatively
close to the vest this morning, as few seem willing to take a stand
ahead of the Labor Department's report on nonfarm payrolls for
August. The U.S. Dollar Index has slipped 0.11% to 82.38, extending
a pullback that began on Wednesday when traders returned to the
equities market. Gold has benefited from the decline in the
greenback, with the malleable metal breaking out to a three-month
high. This morning, gold futures are up $1.10 at $1,254.50 an ounce
in London. Finally, crude prices are headed lower ahead of the jobs
data, with the most active contract down 33 cents at $74.69 per
barrel.
Unusual Put and Call Activity:
For an explanation of how to use this information, check out our
Education Center
topics on
Option Volume
and
Open Interest Configurations
.
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