tradeMONSTER: Trade free for 90 days

Options Trading News

March 19, 2013  Tue 7:13 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Equities are trying to gain this morning as investors await more news from Cyprus.

S&P 500 futures have been pushing higher in the last hour, while most European indexes are trying to erase earlier losses. Asian markets were mixed, but Japan continued to show remarkable strength as momentum buyers drove up the Nikkei by more than 2 percent. Shanghai also advanced almost 1 percent, though Hong Kong's Hang Seng fell marginally.

The market is sitting once again near long-term highs, supported by an improving global economy and abundant cash on the sidelines. There was a scare yesterday after Eurozone officials tried to impose an onerous bailout package on Cyprus, funded by raiding private bank accounts. Now there are major doubts that the measure will pass the country's parliament, raising fears that the country is vulnerable to financial crisis.

Nonetheless, other news in Europe is positive: Germany's ZEW survey of investor sentiment beat economist forecasts, Spain had a better-than-expected short-term debt auction, and Italian industrial production posted a surprise increase.

In the United States, attention will focus on the release of housing starts and building permits at 8:30 a.m. ET, followed by the Federal Reserve's announcement of monetary policy tomorrow afternoon.

Commodities and currencies are providing no clear signals. Oil is mixed and metals are slightly lower, but most agricultural foodstuffs are higher. The euro is little changed and is trying to hold support at a key level from December. The Australian and Canadian dollars are also lower, along with the Japanese yen.

In company-specific news, Lululemon is indicated to open lower after announcing it would withdraw women's yoga pants, causing a "significant impact" on financial results. Retailer DSW is also falling after fourth-quarter earnings missed expectations. 
Share this article with your friends


Related Stories

SPX

Cramer: Tune out Fed naysayers

December 19, 2014

When we have inflation, the data-dependent Fed will switch. Until then, what's the point? Promote havoc? Slow down growth to make it so the hiring binge is over?

SPX

Stocks inch higher following rallies

December 19, 2014

S&P 500 futures are up 0.2 percent but below their highs earlier in the morning. Asia surged overnight, led by gains of about 2 percent in Tokyo and Shanghai. Oil is holding its ground as well.

SPX

Earnings reports fill quiet calendar

December 19, 2014

The only items today are quarterly results from CarMax, Carnival, and BlackBerry. Several events are packed into Tuesday and Wednesday because of next week's Christmas holiday.

SPX

Stocks rally again on Europe, oil

December 18, 2014

S&P 500 futures are up more than 1 percent, while most European indexes are gaining 2 percent. Asia was mostly higher overnight, led by a 2 percent gain in Tokyo.

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.

tradeMONSTER: Trade free for 90 days

TRADING WEEKLY OPTIONS

The fastest money in the market
View full report »

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