Learn the trade here. Make it on tradeMONSTER

Options Trading News

April 16, 2013  Tue 7:16 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Stocks are rebounding today from yesterday's selloff as attention turns to corporate earnings.

S&P 500 futures are up by more than half a percent and have been gaining in the last hour. Europe is trying to fight back from earlier losses. Asian stocks were mixed but little-changed in the overnight session. Precious metals are stabilizing after starting the week with historic declines.

Bad economic news and bombings at the Boston Marathon caused a 2.3 percent drop yesterday, but attention will now increasingly focus on the stream of quarterly results coming from companies such as Goldman Sachs, Johnson & Johnson, and Coca-Cola this morning, followed by tech giants Intel and Yahoo this afternoon.

Today's main economic headlines are housing starts and building permits at 8:30 a.m., followed by industrial production 45 minutes later. Consumer prices will also be reported but will probably not have a big impact on sentiment because inflation hasn't been a concern recently.

Monday's pullback brought the S&P 500 back to a potential support level where it consolidated between mid-March and last week. The question now facing investors is whether they should worry about signs of a slowing economy or focus on corporate results, which have inspired buying in recent quarters.

Foreign-exchange markets are also painting a much more optimistic picture today, with the euro and Australian dollar up by more than half a percent against the U.S. dollar. The Japanese yen, which tends to move in the opposite direction as stocks, is plunging by more than a full percentage point.

Commodities are mixed after yesterday's rout. Gold is up almost 2 percent after cratering 8 percent, while silver and copper are posting small gains. Energy prices are little-changed, and agricultural products are modestly higher.

In company-specific news, GS, JNJ, and KO are all posting small gains after reporting strong quarterly results. HCA, however, forecast weak revenue, making it the second hospital operator in the last week to issue weak guidance. (See our researchLAB tool for more on the industry group.)
Share this article with your friends


Related Stories

SPX

Futures follow Europe, IBM lower

October 20, 2014

S&P 500 futures are down about 0.2 percent. Frankfurt, Paris, and London are all down more than 1 percent amid poor quarterly results, weak trade numbers, and persistent deflationary pressures.

SPX

Earnings continue to lead agenda

October 20, 2014

Halliburton, VF Corporation, Valeant Pharmaceuticals, and Peabody Energy report this morning. Apple, IBM, and Texas Instruments follow in the afternoon.

SPX

Stocks rebound after halting selloff

October 17, 2014

S&P 500 futures are up about 1 percent, and European indexes are higher by 1 to 2 percentage points. Most Asian markets fell overnight as bearishness from the recent selloff lingered. Oil's rebound continues.

SPX

GE earnings, housing data on tap

October 17, 2014

The Commerce Department will release September housing starts and building permits, and the University of Michigan will report its consumer-sentiment index.

SPX

Stock futures fall as bears return

October 16, 2014

S&P 500 futures are down about 1.3 percent. The bloodletting is even worse across the Atlantic, with losses ranging from 1.9 percent in Frankfurt to almost 4 percent in Madrid.

TRADING WEEKLY OPTIONS

The fastest money in the market
View full report »

Premium Services

Free Webinars

Make Money in a Volatile Market

Education & Strategy

Analyzing a bipolar market

Economics hinges on the tenet that people, including investors and traders, act rationally and in their own best interests. But...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER