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 spike up on central banks

November 21, 2014

S&P 500 futures are up 0.8 percent, but Europe is leading the charge with a move of more than 2 percent. Central bankers in China and Europe fueled the moves.

SPX

Quiet agenda before Thanksgiving

November 21, 2014

Today's calendar is empty, followed by a busy week heading into Thanksgiving next Thursday. The only items are quarterly results from Foot Locker and ANN.

SPX

Stocks pull back on weak global data

November 20, 2014

S&P 500 futures are down 0.4 percent, but the losses are much sharper in Europe. Australia was the only big mover in the Asia-Pacific region, with a drop of 1 percent overnight.

SPX

Economic, company news on tap

November 20, 2014

Initial jobless claims and consumer prices for October get the ball rolling at 8:30 a.m. ET. Best Buy, Dollar Tree, GasLog, and JinkoSolar announce quarterly results before the opening bell.

SPX

Stocks hold firm before housing data

November 19, 2014

S&P 500 are little-changed, fighting back from modest losses earlier in the morning. Italy and Germany are the biggest movers across the Atlantic, while Asia was moderately lower overnight.

Premium Services

Webinar Playback

eSignal "Back in Black": Multi-Speaker Free Webinar

Education & Strategy

Some things aren't what they seem

As we scan the Heat Seeker, Depth Charge, and other option-tracking systems, we sometimes see heavy activity in calls and...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER