OptionsHouse

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

Futures climb after jobs report

July 2, 2015

S&P 500 rose 0.3 percent, up from an earlier gain of 0.1 percent after non-farm payrolls missed estimates by a small margin.

SPX

Job data in focus before holiday

July 2, 2015

Non-farm payrolls, moved forward from Friday, and weekly jobless claims are due at 8:30 a.m. ET. Factory orders for May follow at 10 a.m. ET.

SPX

Stocks hold gains after jobs data

July 1, 2015

S&P 500 futures rebounded 0.8 percent as investors look past the Greek debt crisis and focus on economic news. Europe was broadly higher while bonds continue to fall.

SPX

ADP jobs, ISM lead busy agenda

July 1, 2015

Mortgage applications are today's first U.S. headline, followed by ADP private-sector payrolls and the Institute for Supply Management's manufacturing index.

SPX

Cramer: 7 reasons for a selloff

June 30, 2015

At least seven issues would have driven us down at least 1 percent yesterday. And you can tack on another 0.75 percent from the moves by parties on both side of the Greek crisis.

OptionsHouse

Premium Services

Archived Webinar

Education & Strategy

Real vs. Synthetic

We now know that there are two ways of creating a call position, a put position, and a stock position. We can simply use the actual real security or we can recreate it synthetically. We can create these positions in both long and short forms and this ability sets up an interesting scenario--an arbitrage!

View more education articles »