Learn the trade here. Make it on tradeMONSTER

Options Trading News

June 1, 2012  Fri 7:15 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Global equity indexes are mostly lower after disappointing manufacturing data from Europe and China as U.S. traders await monthly non-farm payroll data at 8:30 a.m. ET.

The June S&P 500 futures are down 15.50 points, or 1.18 percent, to 1292.75 as of this writing. The Nasdaq 100 contracts are lower by 28 points, or 1.11 percent, to 2496. Risk off appears to be the theme across many assets this morning.

European indexes reversed earlier gains as emerging markets fell more than 1 percent on global slowdown fears. The German DAX is seeing the worst of the selling, down 2.49 percent, while the Euro STOXX 50 is lower by 1.55 percent.

Most Asian indexes declined as well, led by a 1.2 percent drop in Japan's Nikkei 225. Hong Kong's Hang Seng fell 0.38 percent, but the Shanghai Composite gained 0.05 percent as hopes rose for economic stimulus after China's latest manufacturing data came in lower than expected.

Copper weakness once again foreshadowed the continued selloff. Key support at 3.40 gave way earlier in the week, and now the metal is down 1.26 percent to 3.235.

Euro/dollar futures are lower once again at 1.2323 down 0.36 percent after falling earlier today to  1.213, a new two-year low.

Crude oil is down 2.37 points, or 2.68 percent, to its lowest level in eight months after posting its largest percentage drop on record for May. Support does not appear until the 82 level.

Spot gold futures are down 12.60 points, or 0.82 percent, to 1551.30. Support remains at the 1550 and 1528 levels. Silver is also lower, by 1.66 percent to 27.295.

In stock-specific news, U.S. banks are mostly lower in pre-market trading. Shares of Freeport-McMoRan are falling under the pressure of weakness in copper and other commodities. Alcoa is down more than 2 percent.
Share this article with your friends


Related Stories

SPX

Stocks in range as earnings flow

April 17, 2014

This morning's big companies--Goldman Sachs, General Electric, Morgan Stanley, and PepsiCo--are all trading higher after beating estimates.

SPX

GE, Goldman, jobless claims on tap

April 17, 2014

Earnings and jobless claims are the main events on today's calendar. Trading will likely be light with markets closed tomorrow for Good Friday.

SPX

Futures rise, halting recent slide

April 16, 2014

S&P 500 futures are up more than 0.5 percent, while the Nasdaq is up almost 1 percent. Most European indexes are up a similar amount, while Tokyo led Asia with a 3 percent rally.

SPX

Earnings, housing data on docket

April 16, 2014

Today's calendar includes earnings from Bank of America and Google, plus housing data. Economic headlines start early with European inflation, which could affect the euro and energy.

SPX

Stocks higher as earnings flow

April 15, 2014

S&P 500 futures are up about 0.3 percent. Europe is fractionally lower but has been gaining as New York's open approaches. Asia was mixed overnight, with Japan higher and China lower.

TRADING WEEKLY OPTIONS

The fastest money in the market
View full report »

Premium Services

Education & Strategy

When cash is king (of hedging)

Whether your trades are winning or losing, it can be tempting to add to your positions. But in either case,...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER