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

Futures inch lower before reports

August 3, 2015

S&P 500 futures are down 0.1 percent, while most of Europe rose about half a percent. Asia mostly declined on poor economic data, led by declines in Shanghai and Seoul.

SPX

ISM data kicks off busy calendar

August 3, 2015

Several noteworthy data reports comeout today, including the Institute for Supply Management's manufacturing index, construction spending, and personal income.

SPX

Stocks inch lower on mixed news

July 31, 2015

S&P 500 futures are off 0.1 percent, mostly tracking the moves in Europe. Asia was mostly higher, led by again of 1.5 percent in Mumbai, though Shanghai dropped 1.1 percent.

SPX

Chicago PMI, energy earnings due

July 31, 2015

Chicago PMI is expected to show a reading of 50.5 for July, up from 49.4 in the previous month. Exxon Mobil and Chevron announce results before the opening bell.

SPX

Stocks slide on weak GDP report

July 30, 2015

S&P 500 futures are down about 0.3 percent, while European indexes are higher by about 0.5 percent. Asia was mixed overnight, Tokyo up 1 percent but Shanghai down 2 percent.

OptionsHouse

TRADING WEEKLY OPTIONS

The fastest money in the market
View full report »

Premium Services

Archived Webinar

Education & Strategy

Options Academy: At the Break

So far, my articles have taken you through a logical progression of option theory and fundamental concepts of options. As of yet, I have not mentioned a single strategy and for a good reason! The actual application of a strategy should come AFTER you learn about the option product itself.

View more education articles »