OptionsHouse

Options Trading News

February 27, 2013  Wed 7:14 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Stocks are trying to hold their ground after a strong Italian bond auction eased worries about the debt-laden country.

S&P 500 futures are up slightly and have been rising in the last hour. European markets are mostly higher by about half a percent, following gains by most Asian markets overnight. Energy futures are climbing as well.

While Italy's elections spooked investors earlier this week with the specter of a divided government, unable to make needed reforms, strong demand caused bond yields fell in today's debt sale. Attention will continue to focus on the political realm as Federal Reserve Chairman Ben Bernanke addresses the Senate Banking Committee today and the possibility of forced spending cuts loom in Washington.

The news comes as equities attempt to stabilize after their biggest drop in 2013. Today's event calendar also focuses on durable-goods orders and pending home sales.

Foreign exchange and commodities paint a very mixed picture. The euro and crude oil are higher, but the Australian dollar and copper are lower. Precious metals are also down after climbing yesterday, but agricultural foodstuffs are higher.

The strength in the euro and energy unusual because traders are shrugging off a rally in the Japanese yen, which drove stocks in Tokyo lower overnight.

In company-specific news, retailer Target is down slightly despite reporting strong results and providing guidance above consensus. First Solar is indicated to open lower by 13 percent after forecasting first-quarter results well below estimates.
Share this article with your friends


Related Stories

SPX

Stocks drifting at bottom of range

March 27, 2015

S&P 500 futures are off 0.1 percent, while European markets are mostly higher. Asia was mixed overnight. Oil and metals are under pressure as the euro surrenders some of its recent gains.

SPX

Revised GDP, Yellen lead calendar

March 27, 2015

The final reading of fourth-quarter gross domestic product is due at 8:30 a.m. ET, and Federal Reserve Chair Janet Yellen is slated to deliver a speech at 3:45 p.m. ET.

SPX

Stocks fall amid Yemen airstrikes

March 26, 2015

S&P 500 futures are down 0.7 percent, while the Nasdaq remained weaker with a drop of 1 percent. European indexes slid 1-2 percent, and Asia was broadly lower overnight. Oil and the yen are surging.

SPX

Jobless claims lead quiet calendar

March 26, 2015

The report at 8:30 a.m. ET is expected to show that 290,000 Americans sought unemployment benefits for the first time, down slightly from 291,000 the previous week.

SPX

Stocks edge lower, drifting in range

March 25, 2015

S&P 500 futures are down 0.1 percent as investors wait for the next catalyst. European stocks are lower as well, while Asia was little-changed overnight.

OptionsHouse

Premium Services

Archived Webinar

Education & Strategy

Short Gamma

Last week, we talked about long Gamma. We said that long gamma is acquired by purchasing options and when you...

View more education articles »