Learn the trade here. Make it on tradeMONSTER

Options Trading News

August 29, 2013  Thu 7:09 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Stocks are higher this morning, trying to rebound from a selloff earlier in the week.

S&P 500 futures are at their highs of the session, up about one-third of a percent, following gains of a similar magnitude in Europe. Asia was mostly positive in the overnight session as a weaker Japanese yen lifted the Nikkei almost 1 percent. India's Sensex rallied more than 2 percent after the country's central bank announced measures to halt the rupee's recent slide.

The S&P 500 has been pulling back during August as investors take profits after an eight-month rally drove the index to new record highs. It seesawed in a range yesterday, attempting to hold its ground after concerns about conflict with Syria triggered a 1.4 percent drop on Tuesday.

There are few major reports on the economic calendar before the long Labor Day weekend. The Commerce Department is expected to revise its second-quarter gross domestic product estimate higher and the Labor Department will report weekly jobless claims. Both headlines come at 8:30 a.m. ET. Next week's calendar is much more active, with manufacturing data from the China, the United States and Europe, plus key employment numbers.

Energy has been the strongest sector over the last week as investors focus on the Syrian news and an improving global economy. Utilities have also benefited while financials have lagged.

Commodities are mostly lower today, led by declines of almost 1 percent in the price of oil. Precious metals are down by more than half a percent, while copper is posting a smaller drop.

Dollar strength is a theme again in foreign-exchange markets as the greenback advances against both the euro and the Japanese yen.

In company-specific news, apparel stock Guess is sharply higher after earnings and sales beat expectations. Telecom giants Verizon Communications and Vodafone are also up by more than 5 percent amid news the British company may agree to sell its 45 percent stake in Verizon Wireless.
Share this article with your friends


Related Stories

SPX

Trade bets on big gains in S&P 500

October 31, 2014

A large trade is looking for gains of more than 10 percent in the benchmark index, which has been running higher from its recent low in the last two weeks.

SPX

Stocks rally on Japanese stimulus

October 31, 2014

S&P 500 futures are up a full percentage point, placing the index on track for its first move above 2000 in more than a month. The biggest move occurred in Tokyo, where the Nikkei surged almost 5 percent.

SPX

Calm before storm in economic data

October 31, 2014

Today brings a handful of events, followed by a heavy calendar of economic news next week that culminates in the non-farm payrolls report.

SPX

Stocks stay lower after GDP report

October 30, 2014

S&P 500 futures are down half a percent, following declines in Europe and commodity markets.

SPX

GDP, jobless claims lead agenda

October 30, 2014

Today's big data report is the first estimate for third-quarter gross domestic product at 8:30 a.m. ET. Economists expect growth of 3 percent.

TRADING WEEKLY OPTIONS

The fastest money in the market
View full report »

Premium Services

Free Webinar Series

The 100K Challenge

Education & Strategy

Anatomy of a butterfly

One of the many esoterically named option strategies is known as a "butterfly." But don't be fooled: Like other advanced...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER