Options Trading News

July 25, 2013  Thu 7:05 AM CT

Equity indexes are indicating a lower open this morning as the market digests a raft of important earnings reports and awaits key economic data.

S&P 500 futures are off 0.4 percent, though Nasdaq 100 futures are flat. Overseas markets are in negative territory, weighed down by concerns over slowing growth in China as economic data in that country continues to weaken.

The German DAX and the U.K. FTSE are falling by about 0.7 percent despite a better-than-expected reading in Germany's Ifo survey of business sentiment earlier today. That followed declines in Asia, where Japan's Nikkei was down by more than 1 percent and Hong Kong's Hang Seng by 0.3 percent.

Commodities are mostly lower across the board as crude oil dips below the the 105 level, falling 0.5 percent at the time of this writing. Gold is up fractionally, while silver is down about 0.7 percent.

The dollar is down against most major currencies, as the U.S. Dollar Index is off 0.07 percent. Most notably, the greenback is dropping about 0.5 percent against the Japanese yen.

The U.S. equity market took a breather yesterday despite positive earnings reports ranging from Boeing and Ford in the morning to Facebook and Qualcomm in the afternoon. Part of the decline was attributed to profit-taking with the S&P 500 just a few points off all-time highs, but some are concerned that yesterday's rise in interest rates could stall the momentum in equties.

The steady flow of quarterly results will be interrupted at least temporarily at 8:30 a.m. ET by durable goods for June and weekly jobless claims. New unemployment filings are expected to come in at 340,00, up from 334,000 in the previous week.

Companies moving this morning include General Motors, which is up about 2.5 percent this morning after beating estimates. Dow Chemical is up about 0.7 percent after quarterly results, while 3M is down fractionally.

Key names reporting this afternoon include Amazon, Starbucks, and Tempur-Pedic after the close.
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