Learn the trade here. Make it on tradeMONSTER

Options Trading News

May 1, 2013  Wed 7:09 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Stocks are inching higher today as investors prepare for key economic data and a big announcement from the Federal Reserve.

S&P 500 futures are up by about one-tenth of a percent. Markets are closed in Europe and China in observance of May Day, though Japan's Nikkei fell almost half a percent overnight. Commodities are weak.

ADP reports its private-sector survey for April at 8:15 a.m. ET, followed by the Institute for Supply Management's manufacturing index at 10 a.m. ET. Both have the potential to move the market, and both missed expectations last month.

The Federal Reserve's policy announcement follows at 2 p.m. ET. While everyone expects the central bank to keep interest rates unchanged, investors will analyze the central bank's statement carefully for indications of further stimulus.

The news will arrive after the S&P 500 made a new record closing high for the second straight session yesterday. Investors have been piling into equities despite some indications that economic growth is weakening as years of pessimism lift.

optionMONSTER's researchLAB market screener also shows sentiment shifting in favor of more aggressive investments over the last week, which breaks a theme of caution that had prevailed earlier in 2013. Technology, materials, and energy, for instance, are the leading sectors in the last five sessions, while health care and consumer staples lag. The opposite has been true so far this year.

Currencies are mostly bullish, with the euro higher and the Japanese yen lower, but commodities are bearish. Oil, copper, and silver are all posting losses of 1 percent to 2 percent, while gold is down by half a percent. Agricultural products are mostly lower as well.

In company-specific news, Comcast is up slightly after reporting better-than-expected profit. Drug maker Merck is down 3 percent after missing consensus forecasts on the top line and lowering full-year guidance. Movie studio Dreamworks Animation, which had seen bullish call buying last week, is indicated to open almost 9 percent higher after earnings and revenue beat expectations.
Share this article with your friends


Related Stories

SPX

Futures slip as market awaits news

July 28, 2014

S&P 500 futures are down about 0.1 percent, while Europe is mixed. Shanghai gained more than 2 percent ovenright after Chinese data showed industrial profit growth almost doubling in June.

SPX

Pending home sales lead calendar

July 28, 2014

The economic calendar begins slowly this week but grows increasingly busy. The main data report today is pending home sales at 10 a.m. ET.

SPX

Futures lower after Amazon misses

July 25, 2014

S&P 500 futures and Nasdaq 100 futures are slightly lower with the e-commerce giant down more than 10 percent. European trading is mixed, while Asian bourses were mostly higher overnight.

SPX

Quiet calendar before busy week

July 25, 2014

The only economic headline is Germany's Ifo survey of business conditions ahead of a full calendar next week. AbbVie, LyondellBassell, Tyco, Vodafone, and Xerox issue quarterly results today.

SPX

Earnings, data send stocks higher

July 24, 2014

Stocks are poised to set new records today, fueled by strong earnings and economic data. Investors are specifically reacting to blowout numbers from Facebook and strong global manufacturing numbers.

TRADING WEEKLY OPTIONS

The fastest money in the market
View full report »

Premium Services

Free Webinars

Education & Strategy

How to navigate earnings season

We are embarking on one of the most frustrating times for new option traders: earnings season.Many new traders buy options,...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER