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 stay bullish near record highs

August 21, 2014

S&P 500 futures is up about 0.2 percent while Europe is higher across the board, led by Italy and Spain. Asia was mostly lower overnight, but Japan's Nikkei surged almost 1 percent.

SPX

Mix of data ahead of Jackson Hole

August 21, 2014

Initial jobless claims at 8:30 a.m. ET are the first U.S. data headline today. Economists expect a reading of 308,000, down from 311,000 the previous week.

SPX

Stocks consolidate after large gains

August 20, 2014

The S&P 500 has been rallying since it found support at its 100-day moving average earlier this month, and the benchmark index has risen in six of the last eight sessions.

SPX

Fed minutes, earnings on docket

August 20, 2014

Today's calendar includes minutes from the Federal Reserve's last meeting and several notable earnings reports.

SPX

Stocks continue bullish momentum

August 19, 2014

S&P 500 futures are up 0.15 percent, while most European markets are higher by about 0.5 percent. Asia was strong overnight, with Tokyo and Hong Kong each gaining more than 0.6 percent.

TRADING WEEKLY OPTIONS

The fastest money in the market
View full report »

Premium Services

Education & Strategy

Repairing losers with ratio spreads

Last week we mentioned the "stock repair strategy." This week is a good time to follow up, given the action...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER