OptionsHouse

Options Trading News

September 20, 2013  Fri 7:11 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Stocks are little-changed today as they consolidate from Wednesday's big rally.

S&P 500 futures are down fractionally, following similar moves in Europe. Asia was mixed in the overnight session after equities posted a modest drop.

The S&P 500 ripped to an all-time high earlier this week after the Federal Reserve stunned markets by keeping bond purchases in place. While the move is intended to keep interest rates lower, bond yields rebounded yesterday and are inching higher again today.

There are no economic releases on the calendar today, but attention might focus on speeches by several Fed members in the afternoon: Esther George of the Kansas City Fed at 12:30 p.m. ET, Daniel Tarullo of the central bank's Board of Governors at 12:40 p.m. ET, and James Bullard of the St. Louis Fed at 12:55 p.m. ET.

Price action has increasingly reflected a sense that economic growth will remain strong or accelerate. Our researchLAB market scanner shows that materials, industrials, and transports have outperformed the broader market in the last month and the last week. Emerging-market stocks, makers of expensive consumer durables such as washing machines and motor homes, and housing-related names have also been strong.

Next week's economic calendar shifts focus to the housing market, which has remained strong despite higher borrowing costs.

Currencies offer little clue on direction, with the euro and yen both up slightly. Commodity trading is cautious, with oil lower and agricultural foodstuffs down across the board. Gold and silver are down 1 percent and 2 percent respectively, retreating from Wednesday's big surge.

Tibco Software is the big mover in company-specific news, climbing 8 percent in early trading after third-quarter profit beat analyst estimates.
Share this article with your friends


Related Stories

SPX

Futures climb after jobs report

July 2, 2015

S&P 500 rose 0.3 percent, up from an earlier gain of 0.1 percent after non-farm payrolls missed estimates by a small margin.

SPX

Job data in focus before holiday

July 2, 2015

Non-farm payrolls, moved forward from Friday, and weekly jobless claims are due at 8:30 a.m. ET. Factory orders for May follow at 10 a.m. ET.

SPX

Stocks hold gains after jobs data

July 1, 2015

S&P 500 futures rebounded 0.8 percent as investors look past the Greek debt crisis and focus on economic news. Europe was broadly higher while bonds continue to fall.

SPX

ADP jobs, ISM lead busy agenda

July 1, 2015

Mortgage applications are today's first U.S. headline, followed by ADP private-sector payrolls and the Institute for Supply Management's manufacturing index.

SPX

Cramer: 7 reasons for a selloff

June 30, 2015

At least seven issues would have driven us down at least 1 percent yesterday. And you can tack on another 0.75 percent from the moves by parties on both side of the Greek crisis.

Invest Like a Monster - San Antonio: October 9-10

Premium Services

Archived Webinar

Education & Strategy

Real vs. Synthetic

We now know that there are two ways of creating a call position, a put position, and a stock position. We can simply use the actual real security or we can recreate it synthetically. We can create these positions in both long and short forms and this ability sets up an interesting scenario--an arbitrage!

View more education articles »