OptionsHouse

Options Trading News

February 20, 2013  Wed 7:11 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Stocks are edging lower this morning after hitting record levels yesterday.

S&P 500 futures are down marginally, while most European indexes are falling by about half a percent. Asian markets advanced overnight after yesterday's gains in the United States.

Equities have been steadily climbing since the last day of 2012 as years of pessimism lift and money--created by central banks to address financial crisis--begins to migrate from bonds. Today's weakness comes after the S&P 500 closed at its highest level since October 2007, while the Russell 2000 small-cap index and the Dow Jones Transports Average set new all-time highs.

Investors now face the choice of putting money to work with the market already up 10 percent in the last three months, or waiting for a pullback. They're also waiting for data on housing starts and housing permits at 8:30 a.m. ET and the minutes of the last Federal Reserve meeting at 2 p.m. ET.

Foreign-exchange markets are expressing a cautious sentiment, while commodities are mixed. Currencies associated with risk appetite--the euro, the Australian dollar, and the Canadian dollar--are lower, while the safe-haven Japanese yen is gaining.

Oil and copper are posting small losses, while money continues to flow out of precious metals: Gold and silver are down by about 1 percent, while platinum has lost another 2 percent of its value. Agricultural products are mixed.

In company-specific news, Express Scripts is indicated to open higher after earnings and guidance surpassed expectations. OfficeMax and Office Depot are also rallying for a second day after the companies confirmed that they will combine in an all-stock merger. Chinese Internet company Sina is also gaining after its revenue beat expectations.
Share this article with your friends


Related Stories

SPX

Stocks down before jobs report

September 4, 2015

S&P 500 futures and Nasdaq futures are down about 1 percent. Germany's DAX and France's CAC are down more than 2 percent, matching losses by Japan's Nikkei overnight.

SPX

Non-farm payrolls lead calendar

September 4, 2015

Economists estimate the U.S. economy added 210,000 jobs last month, equal to July's gain. The unemployment rate is seen edging down to 5.2 percent from 5.3 percent.

SPX

Stocks higher amid busy calendar

September 3, 2015

S&P 500 futures are up 0.4 percent, while most of Europe has risen about 1 percent. Mumbai and Hong Kong led moves in Asia, up 1 percent and down 1 percent respectively.

SPX

ECB, job claims, ISM services due

September 3, 2015

The European Central Bank leads a busy economic calendar today. Policy-makers in Frankfurt issue their statement at 7:45 a.m. ET, followed by a press conference 45 minutes later.

SPX

Stocks hold gains after ADP report

September 2, 2015

S&P 500 futures remained up 0.8 percent after private-sector job growth missed estimates by a narrow margin. Europe rose fractionally and Asia was unusually calm.

OptionsHouse

Premium Services

Archived Webinar

Education & Strategy

Options Academy: On Options Strategies in General

Before we hop into the different option strategies, I have a few thoughts for you to remember concerning the strategies and our use of them.

View more education articles »