Learn the trade here. Make it on tradeMONSTER

Options Trading News

May 2, 2013  Thu 7:16 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Stocks are rebounding this morning after a sharp drop yesterday.

S&P 500 futures are up by about one-third of a percent and have been gaining in the last hour, following a decline of almost a full percentage point on Wednesday. Markets are mostly higher across the Atlantic after the European Central Bank cut interest rates by 25 basis points. Asian bourses were mostly lower overnight.

The S&P 500 has been churning in a range for the last month as it attempts to break free of the previous peak in October 2007. The index closed Tuesday at a new all-time high but is still not far from that level.

While economic data has weakened somewhat in recent weeks, it continues to show expansion in the United States and China. Companies have also managed to maintain strong profitability despite weak revenue growth in many cases.

But homebuilding and automobiles, cornerstones of the U.S. economy, have been improving: PulteGroup, Beazer Homes, Ford, and General Motors all reported strong results this earnings season. Some technology companies, including Intel and Microsoft, have also started to outperform after going nowhere for years.

Metals are leading commodities higher this morning, with copper and silver both climbing by about 2 percent. Oil also advanced more than two-thirds of a percent, and most agricultural products are higher.

Foreign-exchange trading is mostly bullish as well. The euro was down slightly but is now climbing after the ECB's rate cut. The Australian dollar also fell modestly against the greenback, which is unusual given the move in copper. The Japanese yen is down across the board.

In company-specific news, BZH is indicated to open higher by more than 6 percent after quarterly revenue came in well above consensus forecasts and management cited "a substantially higher backlog." GM's earnings and sales beat expectations amid strong North American demand, and the shares are up more than 3 percent in early trading.
Share this article with your friends


Related Stories

SPX

Stocks remain lower following GDP report

October 30, 2014

S&P 500 futures are down half a percent, following declines in Europe and commodity markets.

SPX

GDP, jobless claims lead agenda

October 30, 2014

Today's big data report is the first estimate for third-quarter gross domestic product at 8:30 a.m. ET. Economists expect growth of 3 percent.

SPX

Futures lower before Fed report

October 29, 2014

U.S. equity futures are pointing to a slightly lower open ahead of the Federal Reserve's policy announcement this afternoon.

SPX

Federal Reserve dominates docket

October 29, 2014

Traders will be focused on the Federal Reserve's policy announcement today at 2 p.m. ET. Goodyear Tire & Rubber, Hershey Foods, SunPower, and Eaton report earnings in the morning.

SPX

Futures higher ahead of key data

October 28, 2014

U.S. equity futures indicating a higher open this morning amid a floor of earnings reports and ahead of key economic headlines this week.

TRADING WEEKLY OPTIONS

The fastest money in the market
View full report »

Premium Services

Archived Webinar

Make Money in a Volatile Market

Education & Strategy

Anatomy of a butterfly

One of the many esoterically named option strategies is known as a "butterfly." But don't be fooled: Like other advanced...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER