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

Futures decline with global markets

April 17, 2015

U.S. equity futures are lower this morning, continuing the market's negative reversal in the last 90 minutes of yesterday's session.

SPX

Inflation, consumer data on deck

April 17, 2015

Inflation data, consumer sentiment, and earnings reports dominate today's calendar. GE, Honeywell, Seagate Technology, Comerica, and Reynolds American will issue results.

SPX

Futures pull back after strong rally

April 16, 2015

S&P 500 and Nasdaq futures are down about 0.3 percent. Europe is lower across the board, led by a 1.5 percent drop in Germany, but Asia was up overnight with a 2.7 rally in Shanghai.

SPX

Housing data, bank earnings due

April 16, 2015

Goldman Sachs and Citigroup lead the pre-market earnings lineup. On the economic front, housing starts, building permits, and initial jobless claims are all due at 8:30 a.m. ET.

SPX

Stocks higher after ECB statement

April 15, 2015

S&P 500 futures are up 0.25 percent, and markets are up about half a percent across the Atlantic after the European Central Bank issued its monetary-policy statement as expected.

Invest Like a Monster - San Diego: June 26-27

Premium Services

Education & Strategy

Investor deficiency in premium collection

Most investors have heard about selling options as a form of income generation. You hear it from brokers and financial advisors as a way to generate income without selling off pieces of your nest egg, dwindling through your retirement accounts, and then being stuck figuring out how to financially afford the rest of your life...

View more education articles »