OptionsHouse

Options Trading News

December 6, 2012  Thu 7:12 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Stocks are little-changed in early trading as investors focus on the so-called fiscal cliff and wait for key jobs data tomorrow.

European indexes are broadly higher, led by a gain of almost 1 percent in Germany, after the region's central bank left interest rates unchanged. Asian markets were little changed in the overnight session.

The S&P 500 is now hovering in the middle of its range over the last three months. It defied most expectations by touching a four-year high in mid-September, only to decline by 9 percent in the next two months after worries about government finances led dozens of companies to lower guidance. The main focus now is Washington, where politicians must agree to narrow the budget deficit or trigger tax increases and spending cuts on Jan. 1.

Foreign exchange and commodities are painting a mixed picture. The euro is mostly unchanged against the U.S. dollar, while the Australian and Canadian currencies are slightly higher. The Japanese yen is gaining, a potentially bearish signal. Commodities are also mostly lower as oil, copper, and silver are all down modestly.

In addition to the talks in Washington, attention will focus on U.S. jobs data. Challenger, Gray & Christmas said that planned layoffs rose by more than 9,000 in November, partly because Hostess Brands went bankrupt. The bigger news will be weekly initial jobless claims at 8:30 a.m. ET, followed by monthly non-farm payrolls at the same time tomorrow.

In company-specific news, Lululemon Athletica is down by almost 5 percent after warning of slower sales growth. Vera Bradley and Men's Wearhouse are also indicated lower on weak outlook.
Share this article with your friends


Related Stories

SPX

Stocks remain lower after GDP

May 29, 2015

S&P 500 futures extended their losses to a 0.3 percent drop, while Europe's declines steepened after the U.S. Commerce Department confirmed projections for negative growth in the first quarter.

SPX

Revised GDP tops today's docket

May 29, 2015

Forecasters estimate that the U.S. economy shrank 0.7 percent between January and March, compared with its earlier estimate for 0.2 percent growth.

SPX

Futures pull back as traders wait

May 28, 2015

S&P 500 futures are off 0.2 percent, while most of Europe is down about half a percent. Shanghai was the big loser in Asia overnight, plunging 6.5 percent.

SPX

European, jobless data on docket

May 28, 2015

Several European numbers, including consumer confidence and industrial sentiment, are due today, along with weekly jobless claims for the United States.

SPX

Stocks try to rebound from drop

May 27, 2015

S&P 500 futures are up almost 0.1 percent after the index had its biggest drop in three weeks. European markets gained about 0.5 percent.

OptionsHouse

TRADING WEEKLY OPTIONS

The fastest money in the market
View full report »

Premium Services

Archived Webinar

Education & Strategy

Long synthetic call

Long and short Synthetic stock are two of the six basic synthetic positions that exist. Number three on our list is the Synthetic Long Call...

View more education articles »