tradeMONSTER: Trade free for 90 days

Options Trading News

February 21, 2014  Fri 7:12 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Sentiment remains bullish this morning as stocks refuse to back down from near-record levels.

S&P 500 futures are up about 0.2 percent, while most European indexes are fractionally positive. Tokyo rallied almost 3 percent in the overnight session, accompanied by healthy gains in Seoul and Jakarta. Chinese indexes were mixed.

The S&P 500 closed yesterday barely half a percent below last month's record highs and is holding support above its key 50-day moving average. That suggests bullish momentum remains intact following a late-January pullback.

The Russell 2000 small-cap index and transportation stocks have also been strong in recent sessions following a period of weakness. If that continues, it may suggest another drop is less likely.

Our researchLAB market scanner has shown strength in energy, health care, utilities, and materials during the last week. Investors have also targeted gold and silver miners, car-rental stocks, Chinese Internet companies, solar-energy firms, and railroad suppliers. Financials and consumer-related names have lagged.

Existing-home sales at 10 a.m. ET, which tends to have little impact on sentiment, is the only item on today's economic . Next week's agenda is also relatively quiet. (See related story)

In company-specific news, Groupon fell 11 percent after forecasting an unexpected first-quarter loss. Hewlett-Packard rose 1 percent after beating forecasts on strong data-center demand. Emitus, a provider of senior-living facilities, is rallying 35 percent after agreeing to be purchased by Brookdale Senior Living, which in turn rose 3 percent. Dish Network is up 5 percent after profit beat estimates.

Oil is down fractionally, gold and silver are up slightly, and copper and agricultural products are little-changed. Weakness in the safe-haven Japanese yen, which tends to support risk appetite, is the main story in foreign-exchange markets.
Share this article with your friends


Related Stories

SPX

Cramer: Tune out Fed naysayers

December 19, 2014

When we have inflation, the data-dependent Fed will switch. Until then, what's the point? Promote havoc? Slow down growth to make it so the hiring binge is over?

SPX

Stocks inch higher following rallies

December 19, 2014

S&P 500 futures are up 0.2 percent but below their highs earlier in the morning. Asia surged overnight, led by gains of about 2 percent in Tokyo and Shanghai. Oil is holding its ground as well.

SPX

Earnings reports fill quiet calendar

December 19, 2014

The only items today are quarterly results from CarMax, Carnival, and BlackBerry. Several events are packed into Tuesday and Wednesday because of next week's Christmas holiday.

SPX

Stocks rally again on Europe, oil

December 18, 2014

S&P 500 futures are up more than 1 percent, while most European indexes are gaining 2 percent. Asia was mostly higher overnight, led by a 2 percent gain in Tokyo.

SPX

Jobless claims, Philly Fed on tap

December 18, 2014

Today's economic calendar features initial jobless claims and the Philadelphia Federal Reserve's regional-activity index.

tradeMONSTER: Trade free for 90 days

Premium Services

Archived Webinar

The Art of Trading: Forgiving the Spread

Education & Strategy

Know thy Greeks!

One of the most important roles played by the Option Pricing Model is the calculation of an important family of...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER