Learn the trade here. Make it on tradeMONSTER

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

GDP, Fed, job data lead calendar

July 30, 2014

ADP's private-sector payrolls report for July gets the ball rolling at 8:15 a.m. ET, followed 15 minutes later by second-quarter GDP. The Fed announces its monetary policy at 2 p.m. ET.

SPX

Stocks inch higher ahead of data

July 29, 2014

S&P 500 futures are up more than 0.1 percent, and the Nasdaq is higher by almost 0.2 percent. Europe shows gains of about 0.5 percent, similar to those in Asian markets overnight.

SPX

Home prices, consumer data on tap

July 29, 2014

The Case-Shiller index of home prices, scheduled for release at 9 a.m. ET, is expected to show an increase of 10 percent in May. Consumer confidence follows an hour later.

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.

Premium Services

Free Webinars

Education & Strategy

Why traders hedge with sector ETFs

Many people who are not familiar with options think that they increase risk, but their first and primary purpose is...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER