tradeMONSTER: Trade free for 90 days

Options Trading News

June 27, 2014  Fri 7:15 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Stocks are lower this morning, continuing to retreat from record highs before an onslaught of economic news next week.

S&P 500 futures are down 0.2 percent, while Europe is little-changed. Asia was mostly lower overnight, led by a 1.4 percent drop in Tokyo as the Japanese yen strengthened.

The S&P 500 broke out to new all-time highs last month, but its gains have been slowing in the last two weeks. Attention will turn to economic news next week, with three major themes to the data: global manufacturing, European monetary policy and United States employment. (See researchLAB's interactive calendar for more.)

Markets then close for Independence Day next Friday, and second-quarter earnings season gets underway the following week.

Today brought minor negative headlines from overseas as European business confidence unexpectedly weakened and Japanese household spending fell more than forecast.

Energy has been the dominant theme for the last three months as oil drillers, natural-gas shippers, pipelines, frackers, and tanker companies all take turns rallying. Our researchLAB market scanner also shows money streaming into metals, commercial-property managers, 3-D printing stocks, and Latin American banks. Oil refiners, firearm makers, and financial guarantors have lagged.

In company-specific news today, Nike rose 3 percent and Finish Line advanced almost 5 percent after quarterly results beat expectations. Amedisys, a provider of home-healthcare services, is up 8 percent after forecasting strong second-quarter earnings. DuPont fell 3 percent after cutting guidance. The other noteworthy quarterly report scheduled for this morning will come from KB Home.

Canadian energy firm Encana may also be active today after agreeing to sell its Bighorn assets for $1.8 billion. Manitowoc is also up 11 percent after Relational Investors took a large stake and pushed for a breakup into two separate companies.

Commodities are little-changed, and the main story in foreign-exchange markets is the strengthening yen. 
Share this article with your friends


Related Stories

SPX

Jobless claims, Philly Fed on tap

December 18, 2014

Today's economic calendar features initial jobless claims and the Philadelphia Federal Reserve's regional-activity index.

SPX

Stocks try to rebound before Fed

December 17, 2014

S&P 500 futures are up about 0.4 a percent, despite losses of about 1 percent in Europe. Asia was modestly higher overnight, and oil continues to decline.

SPX

Last Fed meeting of year on tap

December 17, 2014

Weekly mortgage applications will be the main item in the United States at 7 a.m. ET. One big catalyst could be a parliamentary vote in Greece.

SPX

Stocks down as oil keeps falling

December 16, 2014

S&P 500 futures are down 0.6 percent, while the declines in Europe approach 1 percent. Asia was mixed overnight, with Tokyo and Mumbai retreating 2 percent and Shanghai rallying 2 percent.

SPX

Housing starts, permits on agenda

December 16, 2014

Economists expect housing starts of 1.035 million on an annualized basis in November. Permits are seen coming in at a 1.06 million pace.

Invest Like a Monster - Las Vegas: March 13-14

Premium Services

Archived Webinar

The Art of Trading: Forgiving the Spread

Education & Strategy

Know thy Greeks!

One of the most important roles played by the Option Pricing Model is the calculation of an important family of...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER