Learn the trade here. Make it on tradeMONSTER

Options Trading News

January 16, 2013  Wed 7:13 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Stocks are poised to decline from historical highs today as caution reigns in global markets.

S&P 500 futures have been weakening in the last hour and are now down by about 0.25 percent, following similar losses in Europe. Asia was mostly lower as well, led by a 2.5 percent plunge in Tokyo's Nikkei index.

Investors have spent the last four sessions debating whether to keep buying after the index returned to a five-year intraday high or to wait for a pullback. Traders appear to be waiting for the oncoming wave of quarterly reports, with a heavy focus on banks and other financial names this week.

Another factor weighing on sentiment today is a snapback rally by the Japanese yen, which tends to move in the opposite direction as stocks and commodities. The yen is higher across the board today, corresponding with drops in the euro, Australian dollar, and Canadian dollar.

Oil has relinquished small gains this morning, while copper and other metals are down by 0.5 percent to 1 percent. Most agricultural foodstuffs are modestly higher.

Financials are mostly lower after reporting results. JP Morgan fell 1 percent after its profit beat expectations but revenue missed consensus. U.S. Bancorp issued similar numbers, though its net income may not be comparable with estimates because it was affected by unusual items. Bank of New York Mellon fell 3 percent.  

Goldman Sachs bucked the trend with top-line and bottom-line results that were much better than expected, sending its shares higher by 2 percent. Citigroup and Bank of America follow with their results tomorrow morning.

In other company news, Boeing is down about 4 percent after major Japanese airlines grounded its new Dreamliner after one of planes was forced to make an emergency landing. Chipotle Mexican Grill fell about 9 percent after pre-announcing weak fourth-quarter results, while Vera Bradley may climb after raising guidance.
Share this article with your friends


Related Stories

SPX

Futures slip as market awaits news

July 28, 2014

S&P 500 futures are down about 0.1 percent, while Europe is mixed. Shanghai gained more than 2 percent ovenright after Chinese data showed industrial profit growth almost doubling in June.

SPX

Pending home sales lead calendar

July 28, 2014

The economic calendar begins slowly this week but grows increasingly busy. The main data report today is pending home sales at 10 a.m. ET.

SPX

Futures lower after Amazon misses

July 25, 2014

S&P 500 futures and Nasdaq 100 futures are slightly lower with the e-commerce giant down more than 10 percent. European trading is mixed, while Asian bourses were mostly higher overnight.

SPX

Quiet calendar before busy week

July 25, 2014

The only economic headline is Germany's Ifo survey of business conditions ahead of a full calendar next week. AbbVie, LyondellBassell, Tyco, Vodafone, and Xerox issue quarterly results today.

SPX

Earnings, data send stocks higher

July 24, 2014

Stocks are poised to set new records today, fueled by strong earnings and economic data. Investors are specifically reacting to blowout numbers from Facebook and strong global manufacturing numbers.

Premium Services

Free Webinars

Education & Strategy

How to navigate earnings season

We are embarking on one of the most frustrating times for new option traders: earnings season.Many new traders buy options,...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER