OptionsHouse

Options Trading News

September 5, 2013  Thu 7:08 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Stocks are little-changed before key economic data, consolidating after two days of gains.

European markets are up slightly, and Asian indexes were mostly positive in the overnight session. Commodities and currencies are modestly bullish.

Equities have climbed in the first two sessions after the long Labor Day weekend, supported by strong economic data from China, Europe, and the United States. While some worries have arisen from the possibility of military action against Syria, there is still no certainty about when--or if--strikes will occur. The delay has allowed the longer-term bullish trend in the S&P 500 to resume.

Investors face more economic headlines today, focusing on ADP's key private-sector payrolls report at 8:15 a.m. ET. The Labor Department follows with initial jobless claims 15 minutes later. Both announcements will be eyed as harbingers of tomorrow's key non-farm payrolls report.

The Bank of England and European Central Bank both left key interest rates unchanged earlier today.

Economically sensitive materials and energy have been the strongest sectors in the last month, reflecting confidence that global growth will accelerate later this year. Ocean shipping companies have also outperformed, along with once-distressed European countries such as Italy and Spain.

Commodity and currency markets are painting a modestly bullish picture, with oil, copper, and precious metals slightly higher. The Japanese yen down fractionally across the board and appears to have broken free of a four-month consolidation period, a move that could be positive for sentiment overall if it continues. The euro is unchanged.

In company-specific news, Louisiana-Pacific is indicated up almost 9 percent after agreeing to buy Canada's Ainsworth Lumber for $1.1 billion, a deal that represents confidence that the housing recovery will continue. NCI Building Systems declined in extended hours yesterday after third-quarter sales missed analyst forecasts.
Share this article with your friends


Related Stories

SPX

Stocks up on earnings, Greek hopes

April 24, 2015

S&P 500 futures are higher by 0.1 percent, while the Nasdaq is up 0.6 percent. German equities climbed 0.6 percent after its Ifo business-confidence index beat expectations.

SPX

Greece, durable goods top agenda

April 24, 2015

Greek officials meet with Eurozone creditors, and Germany's Ifo business-climate index is also due early in the morning. U.S. durable-goods orders are due at 8:30 a.m. ET.

SPX

Global data weighs on U.S. futures

April 23, 2015

S&P 500 futures fell 0.3 percent. Frankfurt is down 1.3 percent, while Paris slid 1 percent and Milan is down 0.9 percent. Most Asia markets eked out small gains overnight.

SPX

Jobless claims, home sales on tap

April 23, 2015

Initial jobless claims are expected to fall to 288,000 from 294,000 the previous week. New home sales are seen slowing to a 520,000 annualized pace in March from 539,000 in February.

SPX

Stocks down, stay trapped in range

April 22, 2015

S&P 500 futures are down 0.25 percent, while European indexes are mostly down about half a percent. Asia rallied again overnight, with Shanghai surging 2.5 percent and Tokyo up more than 1 percent.

Invest Like a Monster - San Diego: June 26-27

Premium Services

Education & Strategy

Vega

There is another Greek which measures the effects on an option's price buy changing the amount of extrinsic value in the option, and that Greek is Vega...

View more education articles »