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

Cramer: Answering all the critics

October 24, 2014

Wednesday's session was infuriating. The moment this market went down big, it was a terrific opportunity to buy. But so many people offered excuses not to.

SPX

Futures pause after sharp rebound

October 24, 2014

U.S. equity futures are pointing to a lower open this morning after stocks rallied sharply yesterday, recovering losses from the previous session.

SPX

Earnings, housing data top docket

October 24, 2014

The earnings parade will continue to dominate the agenda today. New home sales at 10 a.m. ET are the only economic data scheduled for release.

SPX

Strong earnings push futures higher

October 23, 2014

Caterpillar is up more than 4 percent after blowing out estimates. General Motors, 3M, Southwest Airlines, Comcast, and Eli Lilly are higher as well.

SPX

Jobless claims, earnings top docket

October 23, 2014

Jobless claims will be reported at 8:30 a.m. ET. The pre-market earnings lineup includes General Motors, 3M, Eli Lilly, Union Pacific, Celgene, Comcast, American Airlines, and Under Armour.

Premium Services

Free Webinars

Make Money in a Volatile Market

Education & Strategy

Vexed by the VIX

Many people probably don't know that the calculation changed for the CBOE Volatility Index this week, but it's worth discussing...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER