Learn the trade here. Make it on tradeMONSTER

Options Trading News

October 24, 2013  Thu 7:12 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Stocks are rebounding from a modest pullback yesterday, lifted by strong economic numbers from China.

S&P 500 futures are climbing about 0.4 percent, while the Nasdaq 100 and Russell 2000 indexes are posting smaller gains. Most European markets are up about half a percent. Asia was mixed in the overnight session, with Tokyo advancing slightly and Shanghai falling almost 1 percent.

A survey of purchasing managers in China showed manufacturing accelerating at its strongest pace in seven months. Similar surveys for Europe were less impressive, especially in regional leader Germany.

Attention now turns to corporate earnings and United States data. Ford Motor is up 3.5 percent after results beat expectations and management raised guidance. Homebuilder PulteGroup is also climbing after higher prices drove a strong set of numbers. Tech names Symantec and Akamai fell on weak guidance, while semiconductor-equipment company Lam Research is muscling its way higher.

The S&P 500 has been climbing almost uninterrupted since bouncing near its 100-day moving average on Oct. 9. Highly leveraged financials, such as Fannie Mae and Freddie Mac, bond guarantors, and private-equity firms, have led the advance thanks to improved credit quality.

Our researchLAB market-intelligence tool has also shown strength in oil refiners, solar stocks, and metals during that period. On a broader sector level, industrials, materials, and real-estate investment trusts have outperformed as well.

The Labor Department will announce initial jobless claims at 8:30 a.m. ET, followed by Markit's index of manufacturing activity 28 minutes later. The data could move markets as investors try to anticipate the tone of the Federal Reserve's monetary announcement next Wednesday, Oct. 30.

Commodities and modestly bullish, with oil and copper eking out small gains. Gold and silver rose more than half a percent, while agricultural products are lower. U.S. dollar strength is the main theme in foreign-exchange markets as the euro, yen, and Australian and Canadian dollars all decline against the greenback.
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