Learn the trade here. Make it on tradeMONSTER

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 drift higher into long weekend

August 29, 2014

S&P 500 futures are up about 0.25 percent and back near their highs from earlier in the week. European markets are fractionally higher, and Asia was mostly positive overnight.

SPX

Chicago PMI on tap before holiday

August 29, 2014

Today's agenda brings a handful of reports, but trading will probably be light ahead of the Labor Day weekend. Data on personal income and consumer sentiment will accompany the Chicago reading.

SPX

Stocks pull back on Ukraine worries

August 28, 2014

The decline follows news late yesterday that Russian armored troops had entered Ukraine and were fighting in support of pro-Moscow rebels.

SPX

Revised GDP dominates calendar

August 28, 2014

The Commerce Department will report the second-quarter data at 8:30 a.m. ET. Economists forecast a GDP increase of 4 percent, equal to the preliminary estimate at the end of July.

SPX

Stocks take breather at record highs

August 27, 2014

Index futures are up less than 0.1 percent, and Europe is little-changed as investors anticipate monetary stimulus from the European Central Bank. Asian markets closed fractionally higher overnight.

Premium Services

Education & Strategy

It's all skewed up

Most new option traders know little about implied volatility, and learn the hard way. Today we want to help you...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER