OptionsHouse

Options Trading News

January 10, 2013  Thu 7:14 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Stocks are climbing this morning on further signs of acceleration in China.

S&P 500 futures have been climbing in the last hour and are up about 0.4 percent at the time of this writing. Europe and Asia showed similar gains, led by Japan's Nikkei. Commodities are especially bullish.

Chinese exports rose 14.1 percent in December, almost triple the 5 percent growth forecast by economists. Central Bank data also showed strong loan growth, another sign of improvement in the world's No. 2 economy.

The S&P 500 has been trading in a narrow range for the last six sessions after rallying sharply on  on Dec. 31 and Jan. 2. Most of the economic news has remained positive during that time, punctuated by continued U.S. job growth and strong data from Asia.

The market is also preparing for the onset of corporate earnings season in the next month. The big question is whether investors will focus on potential negatives or the hope of better macro growth in coming quarters.

Foreign-exchange and commodities are painting a solidly bullish picture today, more than one might expect given the modest gains in equities.

All the normal "risk on" correlations are at work in the currency market, with the euro, Australian dollar and Canadian dollar higher, while the Japanese yen is down across the board. Oil and copper are up by more than 1 percent on the strong China data. Precious metals and most agricultural foodstuffs are also climbing.

In company-specific news, Tiffany is down 9 percent in early trading after warning that profit would be at the lower end of its expected range. Discount retailer PriceSmart is also likely to be active after first-quarter earnings beat forecasts. Fischer Communications is also up after announcing that it may put itself up for sale.
Share this article with your friends


Related Stories

SPX

Stocks drift at bottome of range

March 27, 2015

S&P 500 futures are off 0.1 percent, while European markets are mostly higher. Asia was mixed overnight. Oil and metals are under pressure as the euro surrenders some of its recent gains.

SPX

Revised GDP, Yellen lead calendar

March 27, 2015

The final reading of fourth-quarter gross domestic product is due at 8:30 a.m. ET, and Federal Reserve Chair Janet Yellen is slated to deliver a speech at 3:45 p.m. ET.

SPX

Stocks fall amid Yemen airstrikes

March 26, 2015

S&P 500 futures are down 0.7 percent, while the Nasdaq remained weaker with a drop of 1 percent. European indexes slid 1-2 percent, and Asia was broadly lower overnight. Oil and the yen are surging.

SPX

Jobless claims lead quiet calendar

March 26, 2015

The report at 8:30 a.m. ET is expected to show that 290,000 Americans sought unemployment benefits for the first time, down slightly from 291,000 the previous week.

SPX

Stocks edge lower, drifting in range

March 25, 2015

S&P 500 futures are down 0.1 percent as investors wait for the next catalyst. European stocks are lower as well, while Asia was little-changed overnight.

Invest Like a Monster - San Diego: June 26-27

Premium Services

Archived Webinar

Education & Strategy

Short Gamma

Last week, we talked about long Gamma. We said that long gamma is acquired by purchasing options and when you...

View more education articles »