tradeMONSTER: Trade free for 90 days

Options Trading News

January 22, 2013  Tue 7:11 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Futures are pulling back this morning with stocks parked at long-term highs and a torrent of earnings scheduled for this week.

The S&P 500 is indicated to open down fractionally amid small declines in Europe. Asian indexes were mixed but mostly negative overnight.

Equities have been plowing higher for the last two months, bringing the S&P 500 to its highest level since late 2007. The Dow Jones Transport Index and Russell 2000 both closed at all-time highs on Friday. (U.S. markets were closed yesterday for Martin Luther King Day.)

Investors are now preparing for a big day of corporate results, led by blue chips such as Verizon Communications, Travelers, Johnson & Johnson, Google, Texas Instruments, and IBM. Today will also see regional economic indexes from the Chicago and Richmond Federal Reserve Banks, plus existing home sales for December.

Macro news overseas was mixed. The Bank of Japan delayed open-ended asset purchases until next year, disappointing some bulls who had expected more immediate money-printing. That has the yen higher across the board, which often weighs on stocks and commodities. Germany's ZEW index of investor sentiment, however, leapt to 31.5, crushing forecasts for a reading of about 10.

Trading in the foreign-exchange and commodity markets is mixed. While the strong Japanese yen is signaling risk aversion, the euro and Australian dollar are higher against the greenback. Oil and copper are trying to in higher and most agricultural foodstuffs are climbing. Precious metals are little changed.

In company-specific news, VZ is down by more than 2 percent after taking a big charge related to employee benefits. TRV is up 3 percent after its earnings crushed estimates. JNJ is down 1 percent after its profit beat consensus but revenue missed.
Share this article with your friends


Related Stories

SPX

Cramer: Tune out Fed naysayers

December 19, 2014

When we have inflation, the data-dependent Fed will switch. Until then, what's the point? Promote havoc? Slow down growth to make it so the hiring binge is over?

SPX

Stocks inch higher following rallies

December 19, 2014

S&P 500 futures are up 0.2 percent but below their highs earlier in the morning. Asia surged overnight, led by gains of about 2 percent in Tokyo and Shanghai. Oil is holding its ground as well.

SPX

Earnings reports fill quiet calendar

December 19, 2014

The only items today are quarterly results from CarMax, Carnival, and BlackBerry. Several events are packed into Tuesday and Wednesday because of next week's Christmas holiday.

SPX

Stocks rally again on Europe, oil

December 18, 2014

S&P 500 futures are up more than 1 percent, while most European indexes are gaining 2 percent. Asia was mostly higher overnight, led by a 2 percent gain in Tokyo.

SPX

Jobless claims, Philly Fed on tap

December 18, 2014

Today's economic calendar features initial jobless claims and the Philadelphia Federal Reserve's regional-activity index.

Invest Like a Monster - Las Vegas: March 13-14

Premium Services

Archived Webinar

The Art of Trading: Forgiving the Spread

Education & Strategy

Know thy Greeks!

One of the most important roles played by the Option Pricing Model is the calculation of an important family of...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER