OptionsHouse

Options Trading News

March 22, 2013  Fri 7:12 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Stocks are rebounding today as money continues trickling into the market.

S&P 500 futures are up by about one-quarter of a percent, while Europe is little-changed after fighting back from earlier losses. Asian bourses were mostly lower, led by a 2 percent drop in Tokyo, following yesterday's decline in U.S. equities.

The S&P 500 climbed steadily for four months and is now within about 2 percentage points of its previous all-time highs from 2007. The rally has been marked by extremely low volatility as money flows into the market after years of nervousness. It's also been aided by favorable economic news and strong earnings.

Attention has recently focused on the potential risks of banking crisis in Cyprus, which has caused indexes to pause in the last week. European Union officials have given the country until Monday to raise 5.8 billion euros needed to secure a10 billion-euro rescue from other European countries and the International Monetary Fund.

Commodities and currencies are also painting a mostly bullish picture this morning. Oil is posting a small gain while copper is higher by almost a full percentage point. Precious metals are lower, while agricultural foodstuffs are mixed. The euro is rallying against the U.S. dollar, while the Japanese yen is mostly lower.

In company-specific news, Nike is indicated to open higher by 8 percent after a strong earnings report last night. Memory-chip maker Micron is climbing after revenue beat expectations and management said demand is improving. (See related story)

Salesforce.com is also up after announcing a 4-for-1 stock split. Tibco Software, however, is down on a weak top-line number.
Share this article with your friends


Related Stories

SPX

Stocks fall sharply on poor earnings

January 27, 2015

S&P 500 futures are down 1 percent, while European indexes have fallen 1 to 2 percentage points. Asia was mixed overnight, with Tokyo gaining almost 2 percent and Mumbai up 1 percent.

SPX

Consumer confidence, Apple on tap

January 27, 2015

Durable-goods orders for December get the ball rolling, followed by the Case-Shiller index of home prices, new home sales, and consumer confidence data. Apple reports after the close.

SPX

Stock bulls look past Greek elections

January 26, 2015

S&P 500 is down less than 0.1 percent, but the Nasdaq 100 is slightly positive ahead of earnings from Microsoft and Apple. European indexes have also turned solidly higher.

SPX

Today's agenda is calm before storm

January 26, 2015

Today is the quietest session, featuring only Germany's Ifo index of business confidence. D.R. Horton, Norfolk Southern, Seagate Technology, and Texas Industruments announce quarterly results.

SPX

Cramer: Possible signs of flash crash

January 23, 2015

The insanity and inanity of these market moves wrecks confidence and wants everyone to pay less for stocks--with the exception of the pure domestic plays.

OptionsHouse

TRADING WEEKLY OPTIONS

The fastest money in the market
View full report »

Premium Services

Free Webinar

Option Money Machine Winter Classic

Education & Strategy

Rolling in possibilities!

First of all, we want to wish everyone a happy, healthy, and prosperous New Year!  Our plan was to get...

View more education articles »