Learn the trade here. Make it on tradeMONSTER

Options Trading News

June 4, 2012  Mon 7:19 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
U.S. equity futures have bounced back from steep losses last night as Asian indexes entered bear market territory.

China provided more evidence of a slowing economy as its non-manufacturing PMI dropped to 55.2 in May from 56.1 in April. U.S. factory order are to be reported at 10 a.m. ET today.

The June S&P 500 futures are up 3 points, or 0.26 percent, to 1277.00. The June Nasdaq 100 contracts are higher by 7.50 points, or 0.31 percent, to 2462.50. Overnight the SPX futures hit a low of 1262, below its 1265 support level; NDX remains above its support of 2440.

The German DAX is well off its session lows, now down 0.71 percent. The U.K. FTSE 100 is lower by 1.14 percent after German Chancellor Angela Merkel rejected a proposed debt-sharing program.

Asian indexes fared much worse. Hong Kong's Hang Seng lost 2.01 percent, and Japan's Nikkei 224 fell 1.71 percent.

Despite persistant credit fears in Europe, the dollar is lower against the euro. The U.S. Dollar Index is down 0.118 points, or 0.14 percent, to 82.85. Euro/dollar futures are higher by 0.0026, or 0.21 percent, to 1.2439, above support at the 1.24 level.

A lower dollar has been generally correlated with higher stocks. If this morning's trend continues, the equity market may grind higher but will remain very sensitive to headlines.

Commodity markets are largely lower despite U.S. equity strength. Front-month crude futures are reacting to the Chinese economic numbers, slipping 1.06 percent to 82.28. Natural-gas futures are notably higher by more than 2 percent to 2.375.

Copper futures are lower as well, off 0.80 percent to 3.2875. Spot gold futures are unchanged after the precious metal soared on Friday.

In stock-specific news, U.S. banks are up in pre-market trading, led by Bank of America and Citigroup. Apple is up more than $2 at $563.15 after dropping to $555.88.
Share this article with your friends


Related Stories

SPX

Equities retreat after quick rally

April 23, 2014

S&P 500 futures are off about 0.1 percent, while Europe is lower by about 0.5 percent. Asia was mixed overnight, with Tokyo up 1 percent and Hong Kong down by a similar amount.

SPX

Earnings, manufacturing on tap

April 23, 2014

In addition to HSBC/Markit's preliminary purchasing managers indexes for China and Europe, we will get earnings from Boeing, Delta Air Lines, Biogen Idec, EMC, and Dow Chemical this morning.

SPX

Stocks hover, pausing from rebound

April 22, 2014

S&P 500 futures are little-changed as the index pauses at a resistance level, but the Nasdaq 100 is continuing to claw its way back from its recent selloff.

SPX

Flood of earnings leads calendar

April 22, 2014

McDonald's, Travelers, United Technologies, Xerox, Lockheed Martin, Lexmark, AK Steel, and Arch Coal announce quarterly results before the opening bell.

SPX

Stocks inch higher amid earnings

April 21, 2014

Stocks are inching higher again as investors anticipate a deluge of first-quarter results. S&P 500 and Nasdaq 100 futures are up slightly so far this morning.

TRADING WEEKLY OPTIONS

The fastest money in the market
View full report »

Premium Services

Education & Strategy

Options and high-frequency trading

There has been much talk lately of high-frequency trading (HFT) and what it does--or doesn't--mean to the markets and retail...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER