OptionsHouse

Options Trading News

January 15, 2013  Tue 7:11 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Stocks are edging lower this morning as the S&P 500 remains trapped near multiyear highs.

Futures on the benchmark index are down fell by almost half a percent, following similar losses in Europe, with the declines accelerating in the last hour. Asian indexes were mostly higher in the overnight session, with continued strength in mainland China and Japan.

The S&P 500 is vying with the same 1470 area, where it peaked in September, which was then its highest level since late 2007. It's been ascending as worries about political risk in the United States and Europe fades, while the promise of economic growth improves.

Investors are currently bracing for another corporate-earnings season, which today will bring results from homebuilder Lennar. Later in the week, major financials including Goldman Sachs, JP Morgan, Citigroup, and Bank of America will follow.

Foreign-exchange trading is bearish, especially after Japan's finance minister warned that the recent selloff in the yen may trigger inflation. The euro, Australian dollar, and Canadian dollar are each lower against the greenback, while the yen is up across the board.

Commodities are also painting a mostly negative picture, with oil and copper both posting small losses. Agricultural foodstuffs and precious metals are slightly higher.

In company-specific news, Lululemon Athletica will probably fall after its sales guidance came in lower than analysts had expected. Forest Laboratories is also down in early trading after its earnings and revenue missed consensus estimates. Dell is continuing to climb amid takeover speculation, up another 5 percent following its 13 percent move yesterday.
Share this article with your friends


Related Stories

SPX

Stocks keep falling after GDP miss

January 30, 2015

S&P 500 futures are down 0.7 percent, while European indexes are fractionally lower. Asia closed mostly lower, led by drops of 1.5 percent to 2 percent in Mumbai and Shanghai.

SPX

GDP, MasterCard on busy calendar

January 30, 2015

The gross domestic product report, due at 8:30 a.m. ET, is especially important because it's the first estimate for the final three months of 2014.

SPX

Stocks trying to recover from selloff

January 29, 2015

S&P 500 futures were up 0.5 percent but are now up just slightly. Europe has also surrendered earlier gains. Japan and China both fell more than 1 percent overnight.

SPX

Jobless claims, earnings on docket

January 29, 2015

Initial unemployment filings, the first item on this side of the Atlantic, are expected to show a reading of 301,000, compared with 307,000 in the previous period.

SPX

Stocks rally on earnings before Fed

January 28, 2015

S&P 500 futures are up 0.4 percent, while strong earnings from Apple have lifted the Nasdaq 100 more than 1 percent. European indexes are modestly lower, and Asia was little-changed overnight.

OptionsHouse

Premium Services

Archived Webinar

Option Money Machine Winter Classic

Education & Strategy

The rolling technique

In the January 7th edition of Advantage Point, we initiated the purchase of a second week-out GOOGL 535 put at...

View more education articles »