$INDU overnight activity?

Steve Profit · Jul 31, 2006

Could someone clear something up for me? I use Interactive Brokers for my data feed and ticker NYSE:$INDU to follow the Dow.

Iâve noticed that $INDU gets premarket / overnight activity and Iâm not sure why. I thought $INDU was the symbol for the 30 Dow companies. Theyâre not traded until the NYSE pre-market open, right?

Looking at a chart, I see that overnight $INDU moved down and back up nearly 40 points (11220 - 11181) from 2:30 - 8:30 AM EST. Why the movement?

Thanks

(pic of $INDU chart attached)

Surdo · Jul 31, 2006

I knew the NYSE was in talks about expanding hours, but when did they start trading all night?

Please post the chart.

Xenia · Jul 31, 2006

Maybe IB do they own calculation of $INDU (DOW-30).

Steve Profit · Jul 31, 2006

Chart pic attached

SethArb · Jul 31, 2006

it might be that the symbol you look at is auto tracking the movement of the futures over night
( i.e. YM )

frostengine · Jul 31, 2006

I may be wrong, But I believe some of the dow componets also trade on the European markets.... and the dow is tracked/updated during the European markets....

Surdo · Jul 31, 2006

All of these "Guesses" make sense. The true measure of the Dow Jones Industrial Average, IMHO is from 9:30AM ET - 4:00PMET.

After hours and futures are really not a true barometer of the $INDU.

I do realize the OP's question remains unanswered, perhaps our resident IB expert can solve the mystery!

Steve Profit · Jul 31, 2006

Yes, we need an IB data expert to explain it, I suppose. It's not YM or futures related, though... doesn't compare at all to YM's overnight activity.

Yes, the correct time to use $INDU is regular market hours. But what gives with that 40 point dip?

I think the European market is the closest thing to makings sense.

I've sent an email to NYSE asking for info. The IB customer service would mostly likely be a lame duck, based on prior experience.

frostengine · Jul 31, 2006

It will be due to dow stocks trading on european exchanges. For instance, if you take the news about WMT droping the german stores. If you read press releases about that you can find where it says WMT was up in european trading. I have seen this same statement about a bunch of dow stocks before, so my guess is they are trading during the european market hours and the $indu is being recalculated based on these price changes.

$INDU overnight activity?

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