Learn the trade here. Make it on tradeMONSTER

Options Trading News

January 6, 2014  Mon 7:14 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Stocks are climbing today, attempting to bounce from a quick pullback last week.

S&P 500 futures are up more than 0.2 percent while Europe is led by gains of almost 1 percent in Italy and Spain. Asia was mostly weak in the overnight session. Tokyo fell more than 2 percent after being closed for the holiday and Shanghai posted a similar decline on weak economic data.

Purchasing managers indexes reflected slowing growth in China, while the European situation continued to show improvement. The results were similar with manufacturing numbers released last week. Attention will now focus on the Institute for Supply Management's non-manufacturing index at 10 a.m. ET.

The S&P 500 declined its first two sessions of 2014, but is still within 1 percent of its all-time high on New Year's Eve. The index has also managed to hold support at its 10-day moving average, suggesting that bullish momentum remains intact.

Equities have been rallying for the last year as cash comes off the sidelines and the economy improves. While most sectors have performed well, our researchLAB market scanner shows strength over the last week in 3-D printers, car-rental companies, airlines, and hospital operators. Gold and silver miners have also attempted to rebound from long-term selloffs. Select Chinese companies that trade in the United States have rallied as well.

The flow of catalysts will increase as this week progresses. Tomorrow afternoon brings earnings from Micron Technologies, the third-strongest member of the S&P 500 in the last year. Wednesday features ADP's monthly private-sector payroll report, minutes from the last Federal Reserve meeting, and quarterly results from Monsanto. The government's key non-farm payrolls report is on Friday morning, followed by a heavy earnings calendar next week.

In company-specific news, merger-and-acquisition activity continues to build. Men's Wearhouse and Jos. A Bank are both up more than 5 percent after MW raised its hostile takeover offer of JOSB to $57.50 a share from $55. Pacer International accepted a $335 million cash-and-stock takeover by XPO Logistics. Sirius XM Holding also rose 8 percent on news that Liberty Media wants to buy out minority shareholders. Goldman Sachs also added SolarCity to its "conviction buy" list, sending it up 6 percent.

Energy futures are higher, as Brent crude oil, and natural-gas climb almost 1 percent. Metals are weak, with silver down almost 1 percent and copper lower by half a percent. Agricultural products are modestly higher. Most currencies are little-changed.
Share this article with your friends


Related Stories

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.

SPX

Stocks lower ahead of busy week

September 29, 2014

S&P 500 futures are down 0.6 percent, similar to declines in Europe. Asia was mixed overnight, with Hong Kong falling almost 2 percent after fierce pro-democracy protests.

TRADING WEEKLY OPTIONS

The fastest money in the market
View full report »

Premium Services

Archived Webinar

Options on Futures are Still Options

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