Learn the trade here. Make it on tradeMONSTER

Options Trading News

December 21, 2012  Fri 6:48 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Global equities are sharply lower this morning after the House canceled last night's scheduled vote on a "Plan B" measure designed to preserve tax breaks while negotiations continue on the so-called fiscal cliff.

U.S. stock futures plunged immediate after the news from Washington but have pared their losses since then. S&P 500 futures are down 1.25 percent, or 18 points, to 1422.90 at the time of this writing. Nasdaq 100 futures are lower by 33 points, or 1.23 percent, to 2657.

European markets are down but also off their session lows. The U.K. FTSE and German DAX are both down about 0.5 percent, and France's CAC-40 is lower by 0.25 percent.

Asian exchanges were open when the House news broke and reacted instantly by reversing lower. Japan's Nikkei began its session by rising 1.3 percent but finished the day down 1 percent. Hong Kong's Hang Seng Index and the Shanghai Composite both dropped 0.7 percent.

Major U.S. stock indexes had been holding gains from recent rallies based on optimism that a resolution would be reached, but the latest move in Congress was viewed as a red flag against prospects of a timely settlement. Many economists agree that failure to avoid the cliff, which would raise taxes and cut government spending at the end of this year, would result in another recession.

Commodities are mixed but not seeing extreme reactions in either direction. Oil is down about 1 point to 89.14 as of this writing. Gold is up about 4 points to 1650, while silver is slightly higher.

In foreign-currency trading, the euro/dollar is down 0.32 percent at $1.3213. A lower euro has been generally bearish for U.S. equities.
Share this article with your friends


Related Stories

SPX

Stocks climb on Apple, Facebook

April 24, 2014

S&P 500 futures are up almost 0.4 percent, while the Nasdaq 100 is up 1.4 percent. European markets are up more than 0.5 percent, though Asia was mostly lower in the overnight session.

SPX

Durable goods, jobless data on tap

April 24, 2014

The earnings calendar is heavy as well, with results from Caterpillar, GM, UPS, Verizon, Eli Lilly, Freeport-McMoRan, PulteGroup, D.R. Horton, Starwood, and American Airlines.

SPX

Equities retreat after quick rally

April 23, 2014

S&P 500 futures are off about 0.1 percent, while Europe is lower by about 0.5 percent. Asia was mixed overnight, with Tokyo up 1 percent and Hong Kong down by a similar amount.

SPX

Earnings, manufacturing on tap

April 23, 2014

In addition to HSBC/Markit's preliminary purchasing managers indexes for China and Europe, we will get earnings from Boeing, Delta Air Lines, Biogen Idec, EMC, and Dow Chemical this morning.

SPX

Stocks hover, pausing from rebound

April 22, 2014

S&P 500 futures are little-changed as the index pauses at a resistance level, but the Nasdaq 100 is continuing to claw its way back from its recent selloff.

Premium Services

Education & Strategy

Options and high-frequency trading

There has been much talk lately of high-frequency trading (HFT) and what it does--or doesn't--mean to the markets and retail...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER