OptionsHouse

Options Trading News

February 1, 2013  Fri 7:17 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Stock futures are advancing this morning before the key non-farm payrolls report at 8:30 a.m. ET.

The S&P 500 has been climbing in the last hour and is indicated higher by about one-third of 1 percent, while the Nasdaq 100 and Russell 2000 small cap indexes are showing slightly larger gains. Most overseas markets gained as well: France's CAC 40 is up almost 1 percent, while Japan's Nikkei climbed half a percent overnight and Shanghai rallied 1.4 percent overnight.

The S&P 500 has been sitting at 1500 for the last week after a scorching rally that began on Dec. 31. Few sellers have come forward to knock it down from that level, and buyers have kept pullbacks extremely shallow. Investors have mostly looked past weak economic news, such as a poor gross domestic product report on Wednesday and a disappointing Chinese manufacturing report this morning.

Foreign-exchange and commodity trading are mixed but mostly bullish. The euro is higher and the Japanese yen is lower across the board, a relationship that usually corresponds with rising share prices. But oil and copper are down slightly, as are the Australian and Canadian dollars. Agricultural foodstuffs and precious metals are up slightly.

It's interesting to note that stocks, currencies, and commodities are not all moving in the same direction every day, as they did in the 2005-2007 period. This suggests that large indexed hedge funds are not driving the current rally but that real money is being put to work in equities instead.

In company-specific news, software maker Netsuite is up about 7 percent after raising its full-year guidance, while energy giant Exxon Mobil is also fractionally higher after earnings and revenue beat consensus estimates.
Share this article with your friends


Related Stories

SPX

Stocks climb with gains overseas

March 30, 2015

S&P 500 futures are up half a percent, while most of Europe is up more than a full percentage point. Shanghai kicked off the move overnight with stimulus hopes and central-bank comments.

SPX

Busy calendar for shortened week

March 30, 2015

Attention will probably focus on Greece today after leaders in Athens promised to deliver a list of potential reforms needed for the debt-laden country to receive further aid.

SPX

Stocks drifting at bottom of range

March 27, 2015

S&P 500 futures are off 0.1 percent, while European markets are mostly higher. Asia was mixed overnight. Oil and metals are under pressure as the euro surrenders some of its recent gains.

SPX

Revised GDP, Yellen lead calendar

March 27, 2015

The final reading of fourth-quarter gross domestic product is due at 8:30 a.m. ET, and Federal Reserve Chair Janet Yellen is slated to deliver a speech at 3:45 p.m. ET.

SPX

Stocks fall amid Yemen airstrikes

March 26, 2015

S&P 500 futures are down 0.7 percent, while the Nasdaq remained weaker with a drop of 1 percent. European indexes slid 1-2 percent, and Asia was broadly lower overnight. Oil and the yen are surging.

Invest Like a Monster - San Diego: June 26-27

Premium Services

Archived Webinar

Education & Strategy

Short Gamma

Last week, we talked about long Gamma. We said that long gamma is acquired by purchasing options and when you...

View more education articles »