After a quiet overnight session, U.S. equity futures are flat ahead of inflation data in the consumer price index at 8:30 a.m. ET.
S&P 500 futures are up 1.25 points, or 0.1 percent, at 1309.75 at the time of this writing. Nasdaq 100 contracts are unchanged at 2522.50 after trading as high as 2537 early this morning.
European markets are down for a second day, with the U.K. FTSE 100 off 0.66 percent and the German DAX lower by 0.54 percent. Much of the weakness in the region is a result of Moody's downgrade of Spanish and Cyprus sovereign debt ratings late yesterday.
Spain's 10-year bond yield jumped to its highest level in more than a decade at 6.998 percent, nearing the 7 percent zone that is generally considered unsustainable. In addition, the euro is down against the U.S. Dollar Index and is keeping a lid on the S&P 500 at the 1310 level.
Asian indexes are also lower, with Hong Kong's Hang Seng index leading the weakness down 1.15 percent. Copper prices slumped again to the 3.33 level after Credit Suisse lowered its growth forecast for China to 7.9 percent from 8.2 percent for the year
Crude oil is unchanged on the day at 82.50 after a seesaw overnight session, with support remaining at the 82.40 level. A move below 82 could push oil down to 80, while a rise over 83.10 could signal a move back to 85 if the dollar were to back off its highs.
Spot gold futures are slightly higher by 1.20 points at 1620.60 a contract. Silver is off 0.121 points, or 0.42 percent, at 28.82.
In stock-specific news, U.S. banking shares are mostly unchanged but may see movement again in JP Morgan on the heels of CEO Jamie Dimon's congressional testimony yesterday. JPM closed higher by 1.6 percent yesterday and is up fractionally in the pre-market.
Options Trading News
Related Stories
SPX
Futures edging higher at key levels
June 18, 2013
S&P 500 futures are fractionally higher, while most overseas markets have posted small gains. Perhaps most importantly, the Japanese yen continued to weaken against the U.S. dollar and euro.
SPX
Stocks set to begin the week higher
June 17, 2013
S&P 500 futures are up more than half a percent while European indexes are gaining more than a full percentage point. Perhaps most important was a rally of almost 3 percent in Tokyo.
SPX
Futures hover after yesterday's rally
June 14, 2013
S&P 500 futures are fractionally higher and European indexes are seesawing in a range, though mostly positive. Asia gained in the overnight session, led by a 2 percent move in Tokyo.
SPX
Futures lower on bloodbath in Japan
June 13, 2013
S&P 500 futures are down along with steeper losses in Europe. The big catalyst today is a 6 percent drop in the Tokyo stock market and a 2 percent surge in the Japanese yen.
SPX
Stocks up after holding key support
June 12, 2013
S&P 500 futures are climbing by two-thirds of a percent and have been gaining all morning, while European markets are posting more modest gains. Asian markets fell overnight.
Social Media
Follow optionMONSTER for news and updates
Premium Services
-
Semi-active traders looking for simple calls and spreads (5 per week).
Learn More -
Entry-to-mid level traders looking for full circle trade analysis (1 per week).
Learn More -
Tailored, one-on-one education designed and led by Jon & Pete (3 months and up)
Learn More
Education & Strategy
Why education is key to options
People get into option trading for a number of reasons, but there are three primary motivations: to increase income, to...
