Global stock markets are mostly higher this morning on hopes for stimulus measures in China after its GDP came in at 7.6 percent, meeting expectations but at its lowest level in three years.
S&P 500 futures are indicating a positive U.S. open at 1333.50, a gain of 0.32 percent, or 4.25 points. Nasdaq 100 contracts are up 9.75 points, or 0.38 percent, to 2547.50 as of this writing.
The German DAX is higher by 1.04 percent, while the U.K. FTSE 100 is up 0.56 percent after Italian bond prices fell for a second day.
Asian indexes closed mixed, with Japan's Nikkei 225 higher by 0.05 percent and Hong Kong's Hang Seng up 0.45 percent. China's economic data showed six quarters of weak growth, reflecting a slowdown in Asia in general.
Commodity prices have rebounded sharply, with crude oil trading as high as 87.28 before backing off to 86.83, a gain of 0.87 percent from yesterday's close. Spot gold prices followed the path of least resistance as well, adding 17.20 points, or 1.1 percent, to 1582.40. Copper is trading at 3.4755, a gain of 1.77 percent, after reaching a high of 3.49.
The pre-market rally is taking place despite relative strength in the dollar, which usually pressures commodities by making them more expensive. The euro/dollar is down 0.02 percent to 1.2203 against the greenback.
In individual stock news, major U.S. banks are higher after JP Morgan reported earnings results this morning. Bank of America is up 0.4 percent, while JPM seeing fractional gains.
Shares of Exxon Mobile are higher after China stimulus speculation sent crude oil prices to their highest level in nearly a month. Shares of Freeport-McMoRan is up as well.
Options Trading News
Related Stories
SPX
Futures are lower as caution reigns
May 24, 2013
S&P 500 futures are down modestly after losses of half a percent to a full percentage point in Europe. Asian markets were mixed overnight, though Shanghai and Tokyo rebounded from yesterday's declines.
SPX
Global selloff hits equity indexes
May 23, 2013
S&P 500 futures are down almost 1 percent, while European indexes are lower by about 2 percent. The real declines came in Asia, where Japan's Nikkei plunged 7 percent and Hong Kong shed 2.5 percent.
SPX
Stocks keep climbing before Bernanke
May 22, 2013
S&P 500 futures are up about one-tenth of a percent ahead of the Fed chairman's appearance before Congress. Most European indexes are modestly lower but have been climbing in the last hour.
SPX
Bernanke fears weigh on sentiment
May 21, 2013
Now that employment, housing, and the global economy have improved, investors are growing nervous that the central bank will become less accommodative.
SPX
Corporate earnings lead the calendar
May 21, 2013
Corporate earnings are the main item on today's agenda as retailers Home Depot, Best Buy, Saks, and TJX report quarterly results.
Social Media
Follow optionMONSTER for news and updates
Premium Services
-
Semi-active traders looking for simple calls and spreads (5 per week).
Learn More -
Entry-to-mid level traders looking for full circle trade analysis (1 per week).
Learn More -
Tailored, one-on-one education designed and led by Jon & Pete (3 months and up)
Learn More
