OptionsHouse

Options Trading News

February 11, 2013  Mon 7:15 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Stocks are drifting higher this morning despite weakness in commodities and signs of potential problems in Europe.

S&P 500 futures are up about 0.2 percent, while France's CAC-40 is the strongest index across the Atlantic with a gain of 0.5 percent. Japanese and Chinese markets were closed for holidays. The S&P 500 finished last week at its highest price in more than five years amid signs of improving economic growth.

Attention may shift back toward politics this week--especially tomorrow, when European finance ministers conclude a meeting and President Obama makes his State of the Union Address. While German economic data has been especially strong recently, borrowing costs have been edging higher for the Spain and Italy.

The big question now facing investors is whether there is enough positive economic momentum to overcome those countries' debt problems. Italy also has elections on Feb. 24 and 25.

The foreign-exchange market continues to show bullish momentum in the two key areas of euro strength and Japanese-yen weakness. But other currencies associated with global growth, the Australian and Canadian dollars, are lower. Oil, copper, and most other commodities are down as well.

In company-specific news, French pharmaceutical giant Sanofi is indicated higher by about 4 percent after the Food and Drug Administration refused to approve new medicines that could weaken its hold on the market for insulin treatments.
Share this article with your friends


Related Stories

SPX

Stocks fall sharply on poor earnings

January 27, 2015

S&P 500 futures are down 1 percent, while European indexes have fallen 1 to 2 percentage points. Asia was mixed overnight, with Tokyo gaining almost 2 percent and Mumbai up 1 percent.

SPX

Consumer confidence, Apple on tap

January 27, 2015

Durable-goods orders for December get the ball rolling, followed by the Case-Shiller index of home prices, new home sales, and consumer confidence data. Apple reports after the close.

SPX

Stock bulls look past Greek elections

January 26, 2015

S&P 500 is down less than 0.1 percent, but the Nasdaq 100 is slightly positive ahead of earnings from Microsoft and Apple. European indexes have also turned solidly higher.

SPX

Today's agenda is calm before storm

January 26, 2015

Today is the quietest session, featuring only Germany's Ifo index of business confidence. D.R. Horton, Norfolk Southern, Seagate Technology, and Texas Industruments announce quarterly results.

SPX

Cramer: Possible signs of flash crash

January 23, 2015

The insanity and inanity of these market moves wrecks confidence and wants everyone to pay less for stocks--with the exception of the pure domestic plays.

OptionsHouse

TRADING WEEKLY OPTIONS

The fastest money in the market
View full report »

Premium Services

Free Webinar

Option Money Machine Winter Classic

Education & Strategy

The rolling technique

In the January 7th edition of Advantage Point, we initiated the purchase of a second week-out GOOGL 535 put at...

View more education articles »