OptionsHouse

Options Trading News

January 31, 2013  Thu 7:09 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Equities are lower today as investors take profits at long-term highs.

S&P 500 futures are down fractionally, while most European indexes are declining by more than half a percentage point. Asian markets were little-changed in the overnight session.

Stocks began the year with a strong rally, which brought the S&P 500 to a five-year high, while the Dow Jones Transport and Russell 2000 small-cap indexes both hit record levels. While most economic news in this month has been positive, the United States reported a surprise drop in gross domestic product yesterday and Germany's retail-sales report this morning was much weaker than expected.

Attention now focuses on initial jobless claims at 8:30 a.m. ET. China will also report manufacturing data this evening, which could affect energy and materials stocks. The headlines continue tomorrow with European manufacturing and the crucial U.S. monthly jobs report scheduled for before the opening bell.

Foreign-exchange markets are showing a modest pattern of risk aversion as the euro, Australian dollar, and Canadian dollar all decline slightly. The Japanese yen, often treated as a safe haven, is up across the board.

Commodity markets are painting a similar picture: Oil and copper, the most economically sensitive products, are both posting small losses. Precious metals and most agricultural foodstuffs are lower as well.

In company-specific news, JDS Uniphase is indicated to climb about 14 percent after its earnings and revenue beat expectations. Qualcomm is up about 6 percent after strong smart-phone demand resulted in strong profit and allowed management to raise guidance.
Share this article with your friends


Related Stories

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.

SPX

Jobless claims lead quiet calendar

March 26, 2015

The report at 8:30 a.m. ET is expected to show that 290,000 Americans sought unemployment benefits for the first time, down slightly from 291,000 the previous week.

SPX

Stocks edge lower, drifting in range

March 25, 2015

S&P 500 futures are down 0.1 percent as investors wait for the next catalyst. European stocks are lower as well, while Asia was little-changed overnight.

SPX

Stocks inch higher, lifted by Europe

March 24, 2015

S&P 500 futures rose 0.2 percent. They're following the move across the Atlantic, where Markit's purchasing managers index rose more than expected to its highest level in almost four years.

SPX

Cramer: Time to ring cash register

March 23, 2015

Let's not forget that greed is bad, not good. We have such fabulous gains here and you have to ask yourself if you have taken anything off the table.

OptionsHouse

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 »