Learn the trade here. Make it on tradeMONSTER

Options Trading News

June 13, 2013  Thu 7:10 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Stocks are falling again today, this time triggered by a steep selloff in Japan.

S&P 500 futures are down about 0.4 percent. Losses in Europe range from 0.6 percent in France to 1.4 percent in Germany, though they have climbed back near their highs of the session.

The big catalyst today is a 6 percent drop in the Tokyo stock market and a 2 percent surge in the Japanese yen. The move follows a steady rally by the Nikkei and decline in the currency since November.

The World Bank issued a report lowering its global economic-growth forecast because of weakness in emerging markets. It added that the risk of financial crisis in Europe has abated. Today is also the busiest session this week for U.S. data, with retail sales, initial jobless claims and export/import prices due at 8:30 a.m. ET.

The strong yen dominates trading in the foreign-exchange market and is affecting other risk currencies, such as the euro and the Canadian dollar. The Australian dollar, however, is up for a second day and is trying to claw its way back from a 2-1/2 year low.

Commodities are mostly bearish as well. Oil is down almost half a percent, and copper is off by more than three-quarters of a percent. Precious metals and agricultural products are also down.

In company-specific news, newspaper publisher Gannett agreed to acquire broadcaster Belo for $1.5 billion to expand its television business. Chinese semiconductor maker Spreadtrum Communications is also surging after raising revenue guidance amid strong demand for smart phones.
Share this article with your friends


Related Stories

SPX

Trade bets on big gains in S&P 500

October 31, 2014

A large trade is looking for gains of more than 10 percent in the benchmark index, which has been running higher from its recent low in the last two weeks.

SPX

Stocks rally on Japanese stimulus

October 31, 2014

S&P 500 futures are up a full percentage point, placing the index on track for its first move above 2000 in more than a month. The biggest move occurred in Tokyo, where the Nikkei surged almost 5 percent.

SPX

Calm before storm in economic data

October 31, 2014

Today brings a handful of events, followed by a heavy calendar of economic news next week that culminates in the non-farm payrolls report.

SPX

Stocks stay lower after GDP report

October 30, 2014

S&P 500 futures are down half a percent, following declines in Europe and commodity markets.

SPX

GDP, jobless claims lead agenda

October 30, 2014

Today's big data report is the first estimate for third-quarter gross domestic product at 8:30 a.m. ET. Economists expect growth of 3 percent.

TRADING WEEKLY OPTIONS

The fastest money in the market
View full report »

Premium Services

Free Webinar Series

The 100K Challenge

Education & Strategy

Anatomy of a butterfly

One of the many esoterically named option strategies is known as a "butterfly." But don't be fooled: Like other advanced...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER