Learn the trade here. Make it on tradeMONSTER

Options Trading News

January 22, 2014  Wed 7:11 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Stocks are little-changed this morning as investors continue to digest corporate results.

S&P 500 futures are off less than 0.1 percent, while Europe is down less than half a percent. Asia was mostly positive overnight, led by a 2 percent rally in Shanghai after China's central bank took steps to prevent a credit crunch.

The S&P 500 fought back from early losses yesterday to close above its key 10-day moving average and remains within striking distance of last week's all-time high. Strength has been broadly dispersed across the market, with no single sector or industry dominating. But in the last week, capital has been gravitating toward aluminum companies, oil tankers, biotechs, and domestic-energy stocks. (See our researchLAB market-analysis tool for more.)

Providers of technology hardware continued the lukewarm trend set by Intel last week: IBM and Xilinx are indicated lower on poor revenue numbers and Advance Micro Devices dropped on weak guidance.

CA, a provider of IT management services, beat expectations and raised its guidance. Light-emitting diode maker Cree is also indicated higher on strong results.

This morning's big names include aerospace companies Textron and United Technologies. Both reported better-than-expected quarterly profit, although UTX's revenue missed consensus. Neither is moving in the pre-market.

Coach is down more than 7 percent on a weak report, continuing the bearish pattern in retail following a highly competitive holiday shopping season. TE Connectivity Solutions, a provider of industrial goods, is indicated higher after beating estimates and raising guidance.

Aside from earnings, there are few other events on the calendar until the Federal Reserve's next meeting on Wednesday, Jan. 29.  

Energy continues to gain as investors price in an improving global economy. Oil is up by more than half a percent and natural gas by more than 2 percent. Gold and silver are modestly higher, and copper is down more than half a percent.

Most currencies are little-changed aside from a big rally in the British pound after a strong jobs report in London.
Share this article with your friends


Related Stories

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.

SPX

GDP, Fed, job data lead calendar

July 30, 2014

ADP's private-sector payrolls report for July gets the ball rolling at 8:15 a.m. ET, followed 15 minutes later by second-quarter GDP. The Fed announces its monetary policy at 2 p.m. ET.

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.

TRADING WEEKLY OPTIONS

The fastest money in the market
View full report »

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