Learn the trade here. Make it on tradeMONSTER

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 continue retreat from highs

July 31, 2014

S&P 500 futures are down 0.6 percent. Europe is down across the board, led by a 2 percent selloff in Madrid. Asia was mixed overnight.

SPX

Jobless claims, Exxon results due

July 31, 2014

Initial jobless claims and Exxon Mobil's earnings are the main events on today's calendar. Economists forecast that 310,000 Americans sought unemployment benefits for the first time.

SPX

Stocks rally on strong GDP growth

July 30, 2014

S&P 500 futures accelerate to the upside after second-quarter economic growth and ADP's payroll report beat estimates.

SPX

GDP, Fed, job data lead calendar

July 30, 2014

ADP's private-sector payrolls report for July gets the ball rolling at 8:15 a.m. ET, followed 15 minutes later by second-quarter GDP. The Fed announces its monetary policy at 2 p.m. ET.

SPX

Stocks inch higher ahead of data

July 29, 2014

S&P 500 futures are up more than 0.1 percent, and the Nasdaq is higher by almost 0.2 percent. Europe shows gains of about 0.5 percent, similar to those in Asian markets overnight.

Premium Services

Education & Strategy

Why traders hedge with sector ETFs

Many people who are not familiar with options think that they increase risk, but their first and primary purpose is...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER