Learn the trade here. Make it on tradeMONSTER

Options Trading News

January 17, 2013  Thu 7:12 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Stocks are edging higher as the opening bell approaches.

Europe has been climbing in the last hour, lifting S&P 500 futures into positive territory. The U.S. benchmark index is now poised to open with a gain of about 0.1 percent.

The move comes as investors digest a stream of quarterly results from companies including Bank of America and Citigroup, plus key economic data on housing starts and initial jobless claims. They're also preparing for big news this evening when semiconductor giant Intel reports earnings and China releases gross domestic product.

The S&P 500 has stubbornly held its ground in the last week, with few sellers looking to exit positions near a multi-year high. Economic data continues to show global expansion, a trend confirmed by strength in risk-sensitive sectors such as transports, small caps, and emerging markets.

The market now appears to be looking toward a second phase of growth, which could be making investors hopeful of better conditions in the second half--even if companies provide conservative outlooks this earnings season.

The euro is also rallying across the board after Spain's borrowing costs fell once again at an auction today, while the Japanese yen is down sharply in continuation of its recent selloff. Both moves are positive for sentiment because the euro is usually associated with risk appetite. The opposite is true for the yen.

Commodities are painting a modestly bullish picture as well, with oil climbing about 0.5 percent and copper up 0.25 percent. Precious metals are down slightly, while agricultural products are mixed.

In company-specific news, Bank of America and Citigroup are down more than 2 percent and 3 percent respectively after reporting fourth-quarter earnings. BAC beat expectations, while C missed.

CBS is indicated higher by almost 10 percent after announcing it would convert its billboard assets into a real-estate investment trust. The news follows bullish call buying in CBS several times during the last week.

Boeing is indicated lower by almost 2 percent after several airlines grounded its 787 Dreamliners to check electrical problems. Columbia Sportswear is indicated lower by almost 8 percent after guiding its fourth quarter lower.
Share this article with your friends


Related Stories

SPX

Stocks higher on sentiment, earnings

October 21, 2014

S&P 500 futures are up 0.6 percent, while the Nasdaq advanced 0.9 percent after strong iPhone sales caused Apple to beat expectations. European markets advanced by 1.5 to 2.3 percent.

SPX

Agenda keeps focus on earnings

October 21, 2014

McDonald's, Coca-Cola, Lockheed Martin, Verizon Communications, United Technologies, and Harley Davidson release their numbers this morning.

SPX

Futures follow Europe, IBM lower

October 20, 2014

S&P 500 futures are down about 0.2 percent. Frankfurt, Paris, and London are all down more than 1 percent amid poor quarterly results, weak trade numbers, and persistent deflationary pressures.

SPX

Earnings continue to lead agenda

October 20, 2014

Halliburton, VF Corporation, Valeant Pharmaceuticals, and Peabody Energy report this morning. Apple, IBM, and Texas Instruments follow in the afternoon.

SPX

Stocks rebound after halting selloff

October 17, 2014

S&P 500 futures are up about 1 percent, and European indexes are higher by 1 to 2 percentage points. Most Asian markets fell overnight as bearishness from the recent selloff lingered. Oil's rebound continues.

TRADING WEEKLY OPTIONS

The fastest money in the market
View full report »

Premium Services

Free Webinars

Make Money in a Volatile Market

Education & Strategy

Analyzing a bipolar market

Economics hinges on the tenet that people, including investors and traders, act rationally and in their own best interests. But...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER