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

Cautious puts in Procter & Gamble

April 27, 2015

The consumer health-care products giant fell sharply after reporting earnings last week, and traders are positioning for more potential losses.

SPX

Futures gain before Apple's report

April 27, 2015

S&P 500 futures are up 0.2 percent before Apple issues results this afternoon, while Europe is higher by up to 1 percent. Shanghai surged 3 percent and Hong Kong gained more than 1 percent.

SPX

Stocks up on earnings, Greek hopes

April 24, 2015

S&P 500 futures are higher by 0.1 percent, while the Nasdaq is up 0.6 percent. German equities climbed 0.6 percent after its Ifo business-confidence index beat expectations.

SPX

Greece, durable goods top agenda

April 24, 2015

Greek officials meet with Eurozone creditors, and Germany's Ifo business-climate index is also due early in the morning. U.S. durable-goods orders are due at 8:30 a.m. ET.

SPX

Global data weighs on U.S. futures

April 23, 2015

S&P 500 futures fell 0.3 percent. Frankfurt is down 1.3 percent, while Paris slid 1 percent and Milan is down 0.9 percent. Most Asia markets eked out small gains overnight.

Invest Like a Monster - San Diego: June 26-27

Premium Services

Education & Strategy

Vega

There is another Greek which measures the effects on an option's price buy changing the amount of extrinsic value in the option, and that Greek is Vega...

View more education articles »