Options Trading News

Stocks and commodities are rebounding this morning before Federal Reserve Chairman Ben Bernanke's big speech at Jackson Hole.

The S&P 500 is indicated to gain about 0.65 percent, while the Nasdaq is higher by almost 0.7 percent. European stocks are up even more, led by Germany and France, which bounced from Thursday's losses. Asian stocks were mostly negative in the overnight session after Japan reported surprisingly weak industrial production.

The big news event of the day will be Bernanke's speech at 10 a.m. ET, which will be closely watched for clues on the potential of new economic stimulus. Chicago PMI and Consumer sentiment will be announced before the speech, while factory orders are scheduled for the same time, so it's likely to be a busy morning.

Activity will probably slow later in the session, however, ahead of the Labor Day weekend.
Foreign-exchange and commodities are painting a general picture of "risk on." The euro, Australian dollar and Canadian dollar are broadly higher, while the greenback is down across the board. Oil and copper, usually associated with economic growth, are advancing by more than half a percent, although agricultural foodstuffs are mostly lower.

In individual company news, OmniVision Technologies rose 10 percent after reporting strong revenue and issuing strong guidance. Athletic-clothing company Zumiez is falling on a weak forecast.