OptionsHouse

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 drift before long weekend

May 22, 2015

S&P 500 futures are unchanged, and European indexes are mixed. Shanghai surged almost 3 percent overnight, Seoul was up more than 1 percent.

SPX

Yellen speech, CPI on calendar

May 22, 2015

Today's agenda features several items, including a speech by Fed Chair Janet Yellen, though trading will probably be quiet as the Memorial Day weekend approaches.

SPX

Futures slip after Fed's minutes

May 21, 2015

S&P 500 futures are down less than 0.1 percent, while Europe slid about half a percent. Most of Asia was little-changed, though Shanghai gained almost 2 percent.

SPX

Global data, jobless claims on tap

May 21, 2015

The first item on this side of the Atlantic is initial jobless claims at 8:30 a.m. ET. Economists anticipate a reading of 270,000, up from 264,000 in the previous week.

SPX

Stocks churn before Fed minutes

May 20, 2015

S&P 500 futures are up less than 0.1 percent, matching the performance in Europe so far. Asian markets like Tokyo, Shanghai, and Mumbai also rose nearly 1 percent overnight.

Invest Like a Monster - San Diego: June 26-27

Premium Services

Archived Webinar

Education & Strategy

Short synthetic stock

With the use of the calls and puts we can not only create Long Synthetic Stock, but Short Synthetic Stock as well...

View more education articles »