OptionsHouse

Options Trading News

October 31, 2013  Thu 7:12 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Stocks are indicated slightly lower this morning after pulling back from record highs yesterday.

S&P 500 futures are down less than 0.2 percent. Europe is mixed but has been working its way higher in the last hour, led by high-beta countries such as Italy and Spain. Asian markets fell in the overnight session as Tokyo and Shanghai shed about 1 percent.

The S&P 500 fell half a percent yesterday, marking only its third decline in the last 16 sessions. The drop came after the Federal Reserve left monetary stimulus in place but sounded less concerned about economic weakness. That caused investors to speculate that policy makers are getting ready to let interest rates go higher.

Today's calendar returns focus to corporate earnings, with major companies such as Exxon Mobil, ConocoPhillips, Cigna, and MasterCard scheduled to report this morning. American International Group follows in the afternoon. Companies that have seen bullish option paper recently such as Kodiak Oil & Gas and Mohawk Industries also report after the closing bell.

Facebook will likely be active today after announcing better-than-expected profit and revenue yesterday afternoon. It initially surged about 10 percent in extended hours but then surrendered gains after saying it didn't plan to push advertising more aggressively. Expedia and Intersil also rallied on strong results.

Alcatel-Lucent climbed 13 percent after continuing to signs of a successful turnaround. Visa, however, is down more than 3 percent after missing estimates.

Initial jobless claims at 8:30 a.m. ET and the Chicago Purchasing Managers Index at 9:45 a.m. ET are the only two economic releases on the agenda. Attention will turn to the global macro economy tomorrow, with the Institute for Supply Management's pivotal manufacturing index coming out in the morning, followed by European and Chinese manufacturing data on Monday. The first estimate of U.S. third-quarter economic growth will be released next Thursday, Nov. 7.

Commodities are modestly bearish, with oil and copper falling less than 1 percent. Gold and silver are down 1 percent and 3 percent respectively after the Fed's statement. Foreign-exchange markets reflect a similar tone as the euro falls and the safe-haven Japanese yen rallies across the board.
Share this article with your friends


Related Stories

SPX

Stocks inch higher before Apple

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.

SPX

Jobless claims, home sales on tap

April 23, 2015

Initial jobless claims are expected to fall to 288,000 from 294,000 the previous week. New home sales are seen slowing to a 520,000 annualized pace in March from 539,000 in February.

OptionsHouse

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 »