Learn the trade here. Make it on tradeMONSTER

Options Trading News

May 7, 2013  Tue 7:14 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Stocks are climbing again today as momentum remains with the bulls.

S&P 500 futures are up more than two-tenths of a percent and have been gaining in the last hour, while European indexes are advancing by half a percent or more. Germany's DAX has reached a new all-time peak, fueled by strong industrial orders. Asian markets were also bullish overnight as Japan's Nikkei surged 3.5 percent to its highest level in almost five years.

Comforted by an improving global economy, money continues to shift from conservative fixed-income investments and into equities. The S&P 500 is only about 2 percent above its previous highs, suggesting that significant support would be found on a pullback into the 1590s. That could give investors comfort that there is relatively little downside risk.

The German industrial numbers were also impressive, showing orders up by 2.2 percent in March, while economists had expected a drop of 0.5 percent. There are few other economic headlines this week, which could also support a drift higher. Thursday is the busiest day, with April same-store sales and initial jobless claims on the agenda.

Activity in the foreign-exchange market is mostly bullish as the U.S. dollar falls against the euro and the Canadian dollar. Japan's yen is higher against the greenback but lower against the euro, and the Australian dollar is falling on a rumor that billionaire investor George Soros is betting against it.

Commodities are negative as oil and silver drop by more than half a percent, while gold and copper shed one-third of a percent. Agricultural products are mixed.

In company-specific news, Anadarko Petroleum is indicated to climb about 1.6 percent after its results beat expectations and management raised guidance. Aruba Networks is down 17 percent after cutting guidance. Nationstar Mortgage gained more than 6 percent after reporting strong results and beating estimates. Financials such as Bank of America and Citigroup are indicated slightly higher, as well, after leading the market to the upside yesterday.

The broader price action has also been bullish over the last week as aggressive segments of the market such as transports and small caps outperform more conservative large caps.
Share this article with your friends


Related Stories

SPX

Futures follow Europe, IBM lower

October 20, 2014

S&P 500 futures are down about 0.2 percent. Frankfurt, Paris, and London are all down more than 1 percent amid poor quarterly results, weak trade numbers, and persistent deflationary pressures.

SPX

Earnings continue to lead agenda

October 20, 2014

Halliburton, VF Corporation, Valeant Pharmaceuticals, and Peabody Energy report this morning. Apple, IBM, and Texas Instruments follow in the afternoon.

SPX

Stocks rebound after halting selloff

October 17, 2014

S&P 500 futures are up about 1 percent, and European indexes are higher by 1 to 2 percentage points. Most Asian markets fell overnight as bearishness from the recent selloff lingered. Oil's rebound continues.

SPX

GE earnings, housing data on tap

October 17, 2014

The Commerce Department will release September housing starts and building permits, and the University of Michigan will report its consumer-sentiment index.

SPX

Stock futures fall as bears return

October 16, 2014

S&P 500 futures are down about 1.3 percent. The bloodletting is even worse across the Atlantic, with losses ranging from 1.9 percent in Frankfurt to almost 4 percent in Madrid.

Premium Services

Free Webinars

Make Money in a Volatile Market

Education & Strategy

Analyzing a bipolar market

Economics hinges on the tenet that people, including investors and traders, act rationally and in their own best interests. But...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER