OptionsHouse

Options Trading News

February 25, 2013  Mon 7:11 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Stocks are rallying this morning as buyers flock to the market.

S&P 500 futures are up by more than half a percent, following gains of 1 percent to 2 percent in Europe. The Nasdaq, which has badly lagged since the summer, is up more than three-quarters of a percentage point. Most Asian bourses were higher in the overnight session, led by a gain of more than 2 percent in Tokyo.

Today's gains come despite weak Chinese manufacturing data, suggesting that traders are increasingly willing to take risk and view the glass as half-full rather than half-empty. It follows a strong rally in January as improving economic conditions globally make investors comfortable shifting capital from bonds and into stocks.

The S&P 500 touched its highest level in more than five years last week, then retreated and bounced at its 30-day moving average. That may signal a quickening of the bullish momentum, especially if 10- and 30-year bond yields break their current resistance levels.

Currencies and commodities are mostly bullish as well. The euro, Australian dollar, oil, and copper--all of which are associated with risk appetite--are rallying. Precious metals are up between 1 percent and 2 percent after falling sharply last week, but agricultural foodstuffs are mixed. The gains in stocks and energy comes despite a strong Japanese yen.

In company-specific news, drug developer Affymax is indicated to open lower by more than 80 percent after voluntarily recalling its Omontys drug on reports it may have killed some patients. Home-improvement chain Lowe's gained almost 2 percent after earnings and revenue beat expectations. Zynga is up 11 percent after a gain of almost 8 percent on Friday.
Share this article with your friends


Related Stories

SPX

Stocks hold gains after small ADP miss

September 2, 2015

S&P 500 futures remained up 0.8 percent after private-sector job growth missed estimates by a narrow margin. Europe rose fractionally and Asia was unusually calm given yesterday's selloff. Shanghai fought back from early losses.

SPX

ADP payrolls lead busy calendar

September 2, 2015

ADP's report is due at 8:15 a.m. ET and is expected to show the creation of 203,000 jobs in August, up from the a gain of one month earlier.

SPX

Momentum sellers hammer market

September 1, 2015

S&P 500 futures have plunged 1.8 percent but have been trying to rebound in the last two hours. Europe is down 2 percent while Tokyo cratered almost 4 percent overnight.

SPX

ISM manufacturing leads agenda

September 1, 2015

The Institute for Supply Management's manufacturing index at 10 a.m. ET is the main item. Economists forecast a reading of 52.6, down from 52.7 in July.

SPX

Stocks lower following big bounce

August 31, 2015

S&P 500 futures are down 0.6 percent but have cut their losses in half. Most of Europe has fallen about half a percent. Asia was mixed, with Tokyo and Singapore down about 1 percent.

OptionsHouse

Premium Services

Archived Webinar

Education & Strategy

Options Academy: On Options Strategies in General

Before we hop into the different option strategies, I have a few thoughts for you to remember concerning the strategies and our use of them.

View more education articles »