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.
Options Trading News
Related Stories
SPX
Stocks attempt to stage a rebound
May 17, 2013
The main catalyst for the buyers appears to be coming from Asia, where Tokyo and Shanghai indexes rallied overnight amid positive Japanese economic data and signs that Chinese authorities will reduce economic regulations.
SPX
Equities are hovering at record levels
May 16, 2013
S&P 500 futures are indicated to open fractionally lower but have been nudging higher throughout the morning. The Nasdaq is up almost two-tenths of a percent after strong numbers from Cisco.
SPX
Equities in range after big gains
May 15, 2013
S&P 500 futures are little-changed, while most European indexes are posting small gains. Asian markets were mostly positive overnight, led by a 2 percent rally in Tokyo.
SPX
Wide range of events on calendar
May 15, 2013
German, France, and Italy will report preliminary gross domestic product numbers early in the morning, which could affect sentiment before the opening bell.
SPX
Another record day on Wall Street?
May 14, 2013
S&P 500 futures are fractionally higher after earlier falling by more than one-tenth of a percent. Europe is also fighting its way back to positive after posting slightly larger declines.
Social Media
Follow optionMONSTER for news and updates
Premium Services
-
Semi-active traders looking for simple calls and spreads (5 per week).
Learn More -
Entry-to-mid level traders looking for full circle trade analysis (1 per week).
Learn More -
Tailored, one-on-one education designed and led by Jon & Pete (3 months and up)
Learn More
Education & Strategy
So why do we bother with spreads?
Trading options allows for far deeper levels of complexity than stocks. And while you may never fully venture all the...
