Learn the trade here. Make it on tradeMONSTER

Options Trading News

January 14, 2013  Mon 7:20 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Stocks are retreating from a multi-year high despite big gains in Asia.

S&P 500 futures are down by about 0.2 percent and have been edging lower in the last hour, while the European indexes have followed a similar trend. The Nasdaq is weak after a negative report about Apple.

The big moves occurred overnight on the other side of the globe, where China's Shanghai Composite rallied 3 percent. The gains in Asia came after Chinese regulators said they may allow foreigners to increase purchases of mainland equities, plus a call by Japanese Prime Minister Abe for more economic stimulus. India also rallied after the government delayed implementation of stringent tax rules.

Investors now face the onset of corporate earnings season, with a heavy focus this week on major banks such as JP Morgan and Bank of America. Financials have been the strongest sector in the last year as they recover from the 2008 credit crisis and draw investors with their low valuations.

The S&P 500 is also sitting around the same multi-year high where it peaked in September. The big question facing traders now is whether to take profits on recent gains or to put more money to work on the long side.

Commodities are modestly bullish, with oil, gold, and copper higher by about 0.5 percent. Silver and platinum are up by more than 1 percent, while most agricultural foodstuffs are gaining as well. Currencies are mixed and not painting a clear picture in one direction or the other.

In company-specific news, the Wall Street Journal reported that Apple reduced orders for components used in its iPhone 5 smart phone. AAPL is down more than 3 percent and attempting to hold the same $500 that's been support since mid-November.

Verint, a maker of intelligent networking equipment, is up 11 percent on a report it may be acquired by Israel's Nice Systems.
Share this article with your friends


Related Stories

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.

SPX

Week filled with heavy flow of data

September 29, 2014

Today begins with German retail sales, followed on this side of the Atlantic by personal income and spending for August at 8:30 a.m. ET. Pending home sales follow at 10 a.m. ET.

SPX

Stocks try to hold following selloff

September 26, 2014

S&P 500 futures are up about 0.1 percent. European markets are fractionally higher, led by France, Italy, and Spain. Asia was mostly lower overnight, though India managed to climb 0.6 percent.

TRADING WEEKLY OPTIONS

The fastest money in the market
View full report »

Premium Services

Archived Webinar

Options on Futures are Still Options

Education & Strategy

Before you quit that day job...

I try to avoid popular-culture references, but this week's "American Ninja Warrior" struck a chord. One contestant had laid it...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER