Learn the trade here. Make it on tradeMONSTER

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

Stocks stay lower after GDP report

October 30, 2014

S&P 500 futures are down half a percent, following declines in Europe and commodity markets.

SPX

GDP, jobless claims lead agenda

October 30, 2014

Today's big data report is the first estimate for third-quarter gross domestic product at 8:30 a.m. ET. Economists expect growth of 3 percent.

SPX

Futures lower before Fed report

October 29, 2014

U.S. equity futures are pointing to a slightly lower open ahead of the Federal Reserve's policy announcement this afternoon.

SPX

Federal Reserve dominates docket

October 29, 2014

Traders will be focused on the Federal Reserve's policy announcement today at 2 p.m. ET. Goodyear Tire & Rubber, Hershey Foods, SunPower, and Eaton report earnings in the morning.

SPX

Futures higher ahead of key data

October 28, 2014

U.S. equity futures indicating a higher open this morning amid a floor of earnings reports and ahead of key economic headlines this week.

Premium Services

Free Webinar Series

The 100K Challenge

Education & Strategy

Anatomy of a butterfly

One of the many esoterically named option strategies is known as a "butterfly." But don't be fooled: Like other advanced...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER