Learn the trade here. Make it on tradeMONSTER

Options Trading News

September 27, 2012  Thu 7:12 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
U.S. stock futures are pointing higher as commodities stabilize and sentiment overseas improves.

S&P 500 futures are up more than 0.4 percent, following gains of similar magnitude in Germany and France. Markets were especially strong in Asia, where the Shanghai Composite soared 2.6 percent on reports the government would announce measures to boost share prices, following a protracted selloff in that index. Hong Kong's Hang Seng rose more than 1 percent.

In Europe, attention is focusing on Spain, where Prime Minister Mariano Rajoy is expected to announce budget proposals that will make a bailout possible. The anticipated move, which will include spending cuts of more than 30 percent for some government ministries, comes in the face of anti-austerity protests in his own country and in Greece.

Overseas economic news was mixed, with Britain revising higher its estimate for the second-quarter gross domestic product and reporting a big income gain. Chinese industrial profits, on the other hand, dropped 6.2 percent in August, which was the worst reading so far this year.

Commodities are also leading the indexes higher today. Oil is higher by almost 1 percent, while copper and silver both advanced by half a percent. Gold is posting a small gain, while natural gas is up by more than 1 percent. Most agricultural commodities are down slightly, while gasoline is up more than 1.5 percent.

Trading is relatively muted in the currency-exchange market, with the euro down slightly against the U.S. dollar, and the Japanese yen slightly higher. Although that would normally be consistent with caution, the Australian dollar and Canadian dollar are both climbing, which reflects some risk appetite by investors.

The S&P 500 has been steadily trending higher since the spring and consolidating above a key resistance level from mid-2008. So far it has shown no warning signs of a correction, while volatility has remained extremely low. That could be leading some chart watchers to believe that stocks will continue to advance.

In company-specific news, recreational-vehicle maker Thor Industries is up about 13 percent after reporting strong results. Medical diagnostics company Cepheid dropped about 3 after predicting that third-quarter revenue will lag estimates.

Today's economic calendar is busy, with weekly initial jobless claims, second-quarter GDP and August durable-goods orders to be announced.
Share this article with your friends


Related Stories

SPX

Stocks drift higher into long weekend

August 29, 2014

S&P 500 futures are up about 0.25 percent and back near their highs from earlier in the week. European markets are fractionally higher, and Asia was mostly positive overnight.

SPX

Chicago PMI on tap before holiday

August 29, 2014

Today's agenda brings a handful of reports, but trading will probably be light ahead of the Labor Day weekend. Data on personal income and consumer sentiment will accompany the Chicago reading.

SPX

Stocks pull back on Ukraine worries

August 28, 2014

The decline follows news late yesterday that Russian armored troops had entered Ukraine and were fighting in support of pro-Moscow rebels.

SPX

Revised GDP dominates calendar

August 28, 2014

The Commerce Department will report the second-quarter data at 8:30 a.m. ET. Economists forecast a GDP increase of 4 percent, equal to the preliminary estimate at the end of July.

SPX

Stocks take breather at record highs

August 27, 2014

Index futures are up less than 0.1 percent, and Europe is little-changed as investors anticipate monetary stimulus from the European Central Bank. Asian markets closed fractionally higher overnight.

TRADING WEEKLY OPTIONS

The fastest money in the market
View full report »

Premium Services

Education & Strategy

It's all skewed up

Most new option traders know little about implied volatility, and learn the hard way. Today we want to help you...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER