Learn the trade here. Make it on tradeMONSTER

Options Trading News

October 12, 2012  Fri 7:09 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
U.S. stock futures are higher this morning after JP Morgan reported positive earnings results while  investors anticipate strong consumer sentiment.

The S&P 500 is indicated to open higher by about 0.4 percent after an unchanged session yesterday. European shares edged lower while Asian indexes were higher in the overnight session.

Most overseas markets moved by less than half a percent. Shanghai was the strongest, climbing two-thirds of 1 percent, after China and Japan agreed to hold talks over a territorial dispute that was undermining trade and confidence in the region.

The big news this morning comes from JP Morgan and Wells Fargo. JPM already issued better-than-expected earnings and revenue, fueled by healthy mortgage lending. WFC released its results minutes ago and appears to have beaten earnings estimates but missed revenue forecasts.

At 9:55 a.m. ET, the University of Michigan is expected to report that its index of consumer confidence rose to 80 from 78.3.

Foreign exchange and commodities are painting a mixed picture. The euro rallied more than one-third of a percent, while the Japanese yen is modestly weaker. Currencies associated with global growth, namely the Canadian and Australian dollars, were little changed.

Oil is fractionally higher, but most other commodities are negative. Silver and copper fell by more than half a percent. Gold is slightly negative, and agricultural foodstuffs are generally lower.

In company-specific news, Advanced Micro Devices is likely to trade lower after weak computer demand caused the chip maker to issue weak preliminary sales figures for the third quarter. J.B. Hunt Transport Services rose in after-hours trading yesterday after its revenue beat expectations.

Outsourcing company Infosys also fell after providing a disappointing growth outlook to investors. JPM also climbed more than 1 percent on its strong quarterly report.
Share this article with your friends


Related Stories

SPX

Stocks inch higher ahead of data

July 29, 2014

S&P 500 futures are up more than 0.1 percent, and the Nasdaq is higher by almost 0.2 percent. Europe shows gains of about 0.5 percent, similar to those in Asian markets overnight.

SPX

Home prices, consumer data on tap

July 29, 2014

The Case-Shiller index of home prices, scheduled for release at 9 a.m. ET, is expected to show an increase of 10 percent in May. Consumer confidence follows an hour later.

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.

TRADING WEEKLY OPTIONS

The fastest money in the market
View full report »

Premium Services

Free Webinars

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