Learn the trade here. Make it on tradeMONSTER

Options Trading News

April 27, 2012  Fri 7:07 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
European markets are rallying after Spain's economic minister ruled out the need for a European Union bailout, reversing U.S. futures higher after a roller-coaster overnight session.

U.S. equity futures, which had all been down overnight, are now positive and gaining strength ahead of the first-quarter GDP report at 8:30 a.m. ET. Investors and traders will be watching the Thursday session high of 1399 for resistance after that release.

The German DAX saw the greatest strength of its Eurozone peers, up 0.25 percent as of this writing.  Standard & Poor's downgrading Spanish debt from A to BBB+, which sparked a flight to safety that sent bond yields higher and the the euro lower. But Spanish Economy Minister Luis de Guindos said at a news conference earlier that Spain would not need a bailout, and euro/dollar futures have since turned positive.

Commodity markets have given back a bit of yesterday's gains, with crude falling below the 103 level briefly before recovering in early morning trading. The front-month crude future is lower at 104.27, while gold and silver futures are both down 0.35 percent as of this writing.

Copper futures recovered early losses after all the Spanish news, and the front-month contract is up 0.45 percent to 3.795, slightly below the highly technically and psychological level of 3.80.

Asian markets did not benefit from the rebound seen in their U.S. and European counterparts, with most indexes closing lower. Japan's Nikkei 225 fell 0.43 percent, reversing a three-day winning streak.

In stock-specific news, Amazon.com is up over 16 percent--or more than $31--after posting blowout earnings last night. Expedia is up over 21 percent, or more than $7, after reporting better-than-expected quarterly results, pushing rival Priceline.com up more than $10 in sympathy.

Shares of Zynga up more than 2.5 percent after beating forecasts, but Starbucks is down 4.4 percent after reporting earnings results after yesterday's close.
Share this article with your friends


Related Stories

SPX

Options and high-frequency trading

April 18, 2014

There has been much talk lately of high-frequency trading and what it means to the markets and retail traders. The big issues and arguments all point in favor of options.

SPX

Stocks in range as earnings flow

April 17, 2014

This morning's big companies--Goldman Sachs, General Electric, Morgan Stanley, and PepsiCo--are all trading higher after beating estimates.

SPX

GE, Goldman, jobless claims on tap

April 17, 2014

Earnings and jobless claims are the main events on today's calendar. Trading will likely be light with markets closed tomorrow for Good Friday.

SPX

Futures rise, halting recent slide

April 16, 2014

S&P 500 futures are up more than 0.5 percent, while the Nasdaq is up almost 1 percent. Most European indexes are up a similar amount, while Tokyo led Asia with a 3 percent rally.

SPX

Earnings, housing data on docket

April 16, 2014

Today's calendar includes earnings from Bank of America and Google, plus housing data. Economic headlines start early with European inflation, which could affect the euro and energy.

Premium Services

Education & Strategy

When cash is king (of hedging)

Whether your trades are winning or losing, it can be tempting to add to your positions. But in either case,...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER