Learn the trade here. Make it on tradeMONSTER

Options Trading News

December 4, 2012  Tue 7:13 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Stocks are inching higher in the pre-market on optimism that public finance problems will be solved in the United States and Europe.

S&P 500 futures are up by almost two-tenths of a percent and have been climbing in the last hour. Indexes across the Atlantic are gaining about half a percent, while Asian indexes were mixed overnight.

The SPX has snapped back sharply from an early-November selloff and is now pausing around the same level that was support in late October. It also pulled back yesterday after trading above its 50-day moving average, which may suggest that traders wish to take profits rather than initiate new longs for the time being.

European markets advanced after Greece proceeded with plans to buy back its sovereign debt, a key step in it receiving international aid. Investors continue to wait for signs of progress regarding the so-called fiscal cliff in the United States, where worries of increased taxes caused manufacturing data to miss expectations yesterday.

The economic calendar is quiet today but will become more active tomorrow as monthly employment data approaches is released.

Commodity prices are mixed to lower. Oil and gold were down by more than a percentage point earlier but are now rebounding. Copper is also recovering, and most agricultural foodstuffs are positive. Silver fell about 1.5 percent.

Currencies paint a modestly bullish picture, with the euro higher. The Australian dollar is also up by half a percent against the greenback despite policymakers cutting interest rates in Sydney. The Japanese yen is climbing however, a potential sign of risk aversion.

In company-specific news, Vail Resorts is down by almost 8 percent after first-quarter earnings and revenue missed expectations. Big Lots rose more than 8 percent after results beat consensus and management raised guidance.
Share this article with your friends


Related Stories

SPX

Stocks try to rebound after payrolls

August 1, 2014

S&P 500 futures are now down just 0.1 percent, significantly paring earlier losses after job numbers calmed interest-rate fears.

SPX

Job report, ISM dominate calendar

August 1, 2014

Non-farm payrolls and manufacturing data are the big events on today's calendar. Economists forecast that 220,000 jobs were created last month.

SPX

Stocks continue retreat from highs

July 31, 2014

S&P 500 futures are down 0.6 percent. Europe is down across the board, led by a 2 percent selloff in Madrid. Asia was mixed overnight.

SPX

Jobless claims, Exxon results due

July 31, 2014

Initial jobless claims and Exxon Mobil's earnings are the main events on today's calendar. Economists forecast that 310,000 Americans sought unemployment benefits for the first time.

SPX

Stocks rally on strong GDP growth

July 30, 2014

S&P 500 futures accelerate to the upside after second-quarter economic growth and ADP's payroll report beat estimates.

Premium Services

Education & Strategy

Why traders hedge with sector ETFs

Many people who are not familiar with options think that they increase risk, but their first and primary purpose is...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER