OptionsHouse

Options Trading News

April 21, 2014  Mon 7:15 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Stocks are inching higher again today as investors anticipate a deluge of first-quarter results.

S&P 500 futures are up almost 0.15 percent, while the Nasdaq 100 is up about 0.35 percent. Italy and Spain are gaining less than 0.5 percent, while London, Frankfurt, and Paris are closed for Easter Monday. Asia was mixed overnight, with Shanghai down 1.5 percent but Mumbai climbing more than 0.5 percent to a record high.

The S&P 500 has been in a range all year, following a huge rally in 2013. Investors have increasingly embraced data showing strength in the United States economy, but established leadership sectors like health care, Internet stocks, and consumer discretionaries have lost momentum. At the same time, capital has been shifting into global-growth stocks, especially in energy and emerging markets.

Attention now focuses on a heavy roster of corporate earnings this week. Halliburton is already up 1 percent after revenue and net income beat expectations. Hasbro, Kimberly-Clark, and SunTrust Banks are also on the agenda this morning. Netflix.com and Rambus follow after the closing bell.

The Chicago Federal Reserve's activity index at 8:30 a.m. ET is the only economic headline scheduled today.

McDonald's, Travelers, United Technologies, Xerox, and Lexmark report earnings tomorrow morning, followed by Amgen, Juniper Networks, Yum Brands and AT&T in the afternoon. Technology heavyweights Apple and Qualcomm announce quarter results Wednesday afternoon, while Microsoft and Amazon.com are scheduled for Thursday afternoon.

The last month's rally in energy stocks is widespread, according to our researchLAB analysis tool, encompassing shale drillers, liquefied natural-gas tankers, frackers, and wildcatters. Latin American utilities, banks, and food stocks have also been strong. On the flip side, 3-D printing, solar energy, retailers, and biotech have lagged.

Despite recent weakness in pharmaceuticals, the group has bullish news this morning: Sarepta Therapeutics surged more than 80 percent after the Food and Drug Administration provided guidance on how the company's main product can potentially be approved. The stock cratered in November when an application for the medicine was rejected.

AstraZeneca is also up 6 percent on a report in the Sunday Times that Pfizer is considering a $101 billion takeover of the British drug giant.

Commodities are mostly lower, with oil down one-third of a percent while precious metals and grains are off about 1 percent. Copper is down the least. Foreign-exchange trading is more bullish, with the safe-haven Japanese yen posting small losses across the board.
Share this article with your friends


Related Stories

SPX

Stocks up on earnings, Greek hopes

April 24, 2015

S&P 500 futures are higher by 0.1 percent, while the Nasdaq is up 0.6 percent. German equities climbed 0.6 percent after its Ifo business-confidence index beat expectations.

SPX

Greece, durable goods top agenda

April 24, 2015

Greek officials meet with Eurozone creditors, and Germany's Ifo business-climate index is also due early in the morning. U.S. durable-goods orders are due at 8:30 a.m. ET.

SPX

Global data weighs on U.S. futures

April 23, 2015

S&P 500 futures fell 0.3 percent. Frankfurt is down 1.3 percent, while Paris slid 1 percent and Milan is down 0.9 percent. Most Asia markets eked out small gains overnight.

SPX

Jobless claims, home sales on tap

April 23, 2015

Initial jobless claims are expected to fall to 288,000 from 294,000 the previous week. New home sales are seen slowing to a 520,000 annualized pace in March from 539,000 in February.

SPX

Stocks down, stay trapped in range

April 22, 2015

S&P 500 futures are down 0.25 percent, while European indexes are mostly down about half a percent. Asia rallied again overnight, with Shanghai surging 2.5 percent and Tokyo up more than 1 percent.

Invest Like a Monster - San Diego: June 26-27

Premium Services

Education & Strategy

Vega

There is another Greek which measures the effects on an option's price buy changing the amount of extrinsic value in the option, and that Greek is Vega...

View more education articles »