OptionsHouse

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 inch lower before key data

March 4, 2015

S&P 500 futures declined about 0.3 percent and are attempting to hold support at their mid-February highs. Europe is little-changed, and Asia was mostly lower overnight.

SPX

ADP labor report tops busy calendar

March 4, 2015

The employment number at 8:15 a.m. ET and is expected to show that 220,000 jobs were added in February. That would compare with growth of 213,000 in December.

SPX

Stocks hovering near record levels

March 3, 2015

S&P 500 futures are down about 0.1 percent, matching the small declines in Europe. Asia was mostly lower overnight as profit-takers knocked China down 2 percent. Oil is higher.

SPX

Earnings, autos lead quiet session

March 3, 2015

Today is the quietest session of the week, with nothing but earnings and monthly auto sales on the economic calendar.

SPX

Stocks edge lower before key data

March 2, 2015

S&P 500 futures are down 0.1 percent, while most of Europe is off about 0.5 percent. Asia was mostly higher overnight, bolstered by an interest-rate cut and Chinese manufacturing numbers.

Invest Like a Monster - Las Vegas: March 13-14

TRADING WEEKLY OPTIONS

The fastest money in the market
View full report »

Premium Services

Webinar Recording

Turbo Charge Your Trading Profits

Education & Strategy

Gamma

As we continue to discuss the Greeks, we come to the first of the strike based Greeks called Gamma. Gamma is known as the second derivative, while delta is the first.

View more education articles »