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

ECB, jobless claims top calendar

October 2, 2014

The European Central Bank's monetary announcement is the main event on today's calendar. That will be followed by weekly jobless claims and factory orders.

SPX

Stocks remain lower after job data

October 1, 2014

S&P 500 futures are near their lows of the morning despite better-than-expected private-sector payroll gains. European markets are down more than half a percent.

SPX

ADP, ISM data dominate calendar

October 1, 2014

Today's big event comes at 8:15 a.m. ET when ADP announces private-sector payroll gains for September. The Institute for Supply Management's manufacturing index at 10 a.m. ET.

SPX

Futures higher ahead of key data

September 30, 2014

S&P 500 futures are up 0.36 percent, while the Nasdaq 100 is indicated higher by 0.6 percent. Europe rose as well, led by gains of about 1 percent in France, Spain, and Italy. Asia was mixed overnight.

SPX

Case-Shiller, consumer data on tap

September 30, 2014

Today's agenda brings a mix of items, including European inflation data, the Case-Shiller index of home prices, the Chicago Purchasing Managers Index, and consumer confidence.

Premium Services

Free Webinars

How Can Equity Traders Beat the Algos

Education & Strategy

When to go in or out of the money

Some of our subscribers recently asked how to gauge positions that are in or out of the money, so I...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER