Opening View: DJIA Futures Edge Slightly Higher; VIX Slips Below 30

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The Dow Jones Industrial Average ( DJIA ) scratched out a minor gain on Thursday after spending most of the session in the red. However, the average managed to finish its second consecutive session above its 10-day moving average - a feat not accomplished since April 26. Meanwhile, the S&P 500 Index ( SPX ) edged above the 1,100 level, but the index's 200-day trendline remains perched just overhead in the 1,105 area. Traders remain wary ahead of jobs data later this morning, with the DJIA and the SPX trading a mere 7 points and less than 1 point above fair value, respectively. Finally, the CBOE Market Volatility Index ( VIX ) inched 2% lower on Thursday, with the index slipping below support at the round-number 30 level.

Krispy Kreme Doughnuts Inc. ( KKD ) said first-quarter net earnings more than doubled to $4.5 million, or 6 cents a share, from $1.9 million, or 3 cents a share, in the first quarter of 2009. Revenue fell to $92.1 million from $93.4 million a year ago. Same-store sales during the most recent quarter rose 3.4%. Krispy Kreme also said it now expects fiscal 2011 operating income, exclusive of impairment charges and lease termination costs, of $11 million to $15 million, up from its previous forecast for $10 million to $13 million.

Quiksilver Inc. ( ZQK ) announced fiscal second-quarter net earnings were $9.4 million, or 6 cents a share, compared with $2.8 million, or 4 cents a share, a year ago. Earnings from continuing operations came in at 11 cents a share. Analysts had expected earnings of 3 cents a share. Revenue fell to $468.3 million from $494.2 million in the year-earlier period. The consensus estimate called for $455 million in sales. Quiksilver forecast third-quarter revenue to be down in the low teens on a percentage basis, compared with the year-ago period. It also expects to generate per-share earnings in the low single-digit cents range. Wall Street currently expects earnings of 5 cents a share on a 4% revenue decline to $483 million.


Earnings Preview

On the earnings front, Blyth Inc. ( BTH ) and American Woodmark Corp. ( AMWD ) are scheduled to release their quarterly reports today. Keep your browser at SchaeffersResearch.com for more news as it breaks.

Economic Calendar

Market Statistics

Equity option activity on the Chicago Board Options Exchange ( CBOE ) saw 1,106,467 call contracts traded on Thursday, compared to 663,326 put contracts. The resultant single-session put/call ratio arrived at 0.60, while the 21-day moving average held at 0.67.

Volatility indices

NYSE and Nasdaq summary

**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.**

Dow, S&P and Nasdaq futures

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Overseas Trading

Overseas trading is a little on the weak side this morning, as five of the 10 markets that we follow are in negative territory. The cumulative average return on the group stands at a loss of 0.12%. In Asia, trading closed mixed, as investors were cautious ahead of the U.S. jobs report. Turning to Europe, stocks climbed in thin volume, extending a week-long recovery rally. Overseas market information comes to you courtesy of Schaeffer's Daily Bulletin .

Overseas markets

Currencies and Commodities

The U.S. dollar is trading slightly lower this morning against strength in the euro. As a result, the U.S. Dollar Index is down 0.03% in pre-market trading. Elsewhere, crude futures are gaining ground ahead of today's jobs report. In electronic trading, the most active contract was up 29 cents at $74.90 per barrel. Finally, gold continue to pull back from resistance in the $1,230 area, slipping $10.40 to $1,199.60 an ounce in London.

Currencies and commodities

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 .

Unusual options activity - puts

Unusual options activity - calls

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This article appears in: Investing , Options


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As of 12/19/2014, 04:15 PM


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