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

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.

SPX

Futures are rising after big drop

June 30, 2015

Stocks are trying to rebound from their worst drop in more than a year as investors look past the risks of Greece defaulting on its debt today.

SPX

Greece, consumer data on tap

June 30, 2015

Consumer confidence is the main economic report today, though the Greek debt crisis will remain a major concern. The Chicago Purchasing Managers Index will also be announced.

SPX

Stocks fall as Greek banks close

June 29, 2015

Equities are down sharply after negotiations fell apart over Greece's debt crisis this weekend, closing banks in the nation until a special referendum is held July 5.

SPX

Short holiday week is full of data

June 29, 2015

Today's economic news starts early with German retail sales and several European sentiment indexes. Pending home sales at 10 a.m. ET are the main U.S. report.

OptionsHouse

TRADING WEEKLY OPTIONS

The fastest money in the market
View full report »

Premium Services

Archived Webinar

Education & Strategy

Using synthetic positions vs. actual stock

We now know as absolute fact that a synthetic position is 100% identical to its real position counterpart. It is simply a function of mathematics. So, if they are totally identical then why would a trader ever use the synthetic alternative over the real position?

View more education articles »