OptionsHouse

Options Trading News

November 21, 2012  Wed 7:10 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Stock index futures are holding their ground today as investors look past uncertainty overseas and expect a strong start to the holiday shopping season. Oil is climbing as well.

The S&P 500 is little-changed, attempting to stay above its key 200-day moving average. It traded below that level for more than a week but rallied back Monday on hopes that the United States would avert fiscal crisis.

Now the market is looking forward to signs of strength in the economy. Initial jobless claims will be released at 8:30 a.m. ET, one day early because of Thanksgiving tomorrow. Then attention will focus to holiday shopping.

Most Asian markets were mostly positive in the overnight session, and European markets are treading water despite leaders on the continent failing to agree on a solution to Greece's sovereign-debt problems. Another meeting is scheduled for Monday.

Violence has also resumed in the Middle East, with a bomb injuring more than 20 people in Tel Aviv. The main impact on trading so far has been to push oil prices higher.

Crude is up by more than 1 percent. Gold and silver posted small gains, but copper is modestly lower. Agricultural foodstuffs are mixed.

Currencies are painting a modestly bearish picture, with the euro and Australian dollar both lower. Then Japanese yen, however, is plunging, which tends to support commodity prices and equities.

In company-specific news, tractor maker Deere is lower by about 2 percent after higher costs caused earnings to miss analyst forecasts. Book publisher Scholastic may also drop after lowering guidance yesterday afternoon.
Share this article with your friends


Related Stories

SPX

Stocks inch lower before key data

March 4, 2015

S&P 500 futures declined about 0.3 percent and are attempting to hold support at their mid-February highs. Europe is little-changed, and Asia was mostly lower overnight.

SPX

ADP labor report tops busy calendar

March 4, 2015

The employment number at 8:15 a.m. ET and is expected to show that 220,000 jobs were added in February. That would compare with growth of 213,000 in December.

SPX

Stocks hovering near record levels

March 3, 2015

S&P 500 futures are down about 0.1 percent, matching the small declines in Europe. Asia was mostly lower overnight as profit-takers knocked China down 2 percent. Oil is higher.

SPX

Earnings, autos lead quiet session

March 3, 2015

Today is the quietest session of the week, with nothing but earnings and monthly auto sales on the economic calendar.

SPX

Stocks edge lower before key data

March 2, 2015

S&P 500 futures are down 0.1 percent, while most of Europe is off about 0.5 percent. Asia was mostly higher overnight, bolstered by an interest-rate cut and Chinese manufacturing numbers.

OptionsHouse

TRADING WEEKLY OPTIONS

The fastest money in the market
View full report »

Premium Services

Webinar Recording

Turbo Charge Your Trading Profits

Education & Strategy

Gamma

As we continue to discuss the Greeks, we come to the first of the strike based Greeks called Gamma. Gamma is known as the second derivative, while delta is the first.

View more education articles »