OptionsHouse

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

Stocks climb with gains overseas

March 30, 2015

S&P 500 futures are up half a percent, while most of Europe is up more than a full percentage point. Shanghai kicked off the move overnight with stimulus hopes and central-bank comments.

SPX

Busy calendar for shortened week

March 30, 2015

Attention will probably focus on Greece today after leaders in Athens promised to deliver a list of potential reforms needed for the debt-laden country to receive further aid.

SPX

Stocks drifting at bottom of range

March 27, 2015

S&P 500 futures are off 0.1 percent, while European markets are mostly higher. Asia was mixed overnight. Oil and metals are under pressure as the euro surrenders some of its recent gains.

SPX

Revised GDP, Yellen lead calendar

March 27, 2015

The final reading of fourth-quarter gross domestic product is due at 8:30 a.m. ET, and Federal Reserve Chair Janet Yellen is slated to deliver a speech at 3:45 p.m. ET.

SPX

Stocks fall amid Yemen airstrikes

March 26, 2015

S&P 500 futures are down 0.7 percent, while the Nasdaq remained weaker with a drop of 1 percent. European indexes slid 1-2 percent, and Asia was broadly lower overnight. Oil and the yen are surging.

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

TRADING WEEKLY OPTIONS

The fastest money in the market
View full report »

Premium Services

Archived Webinar

Education & Strategy

Short Gamma

Last week, we talked about long Gamma. We said that long gamma is acquired by purchasing options and when you...

View more education articles »