OptionsHouse

Options Trading News

June 27, 2013  Thu 7:14 AM CT

SPX: SEE CHART GET CHAIN FIND STRATEGIES
Stocks are higher this morning, continuing to recover from a five-week selloff.

S&P 500 futures are up almost half a percent and near their highs of the morning, while European indexes show fractional gains. Asian bourses were led by a 3 percent rally in Tokyo overnight.

Equities have been trying to recover from their biggest drop of the year after bottoming on Monday. Economic data has mostly been positive in the United States and Europe, but the market has been worried about weakness in emerging markets and the possibility of higher borrowing costs as the Federal Reserve reduces asset purchases.

Bond yields are indicated lower this morning, however. Stocks sensitive to interest rates, such as utilities, real-estate investment trusts, and financials have all outperformed the broader market in the last week, reflecting a belief rates are done climbing for now. The Eurozone also reported better-than-expected economic confidence earlier today.

The next big events on the calendar are initial jobless claims at 8:30 a.m. ET today, the Institute for Supply Management's manufacturing index on Monday, and employment data later next week. Japan also reports a slew of economic data tonight, which could potentially sway market sentiment Friday morning. Most numbers from the Asian country have been strong recently.

Commodities and foreign-exchange markets reflect a benign sentiment: Oil rose about one-third of a percent, copper by one-quarter of a percent, and silver by two-thirds of a percent. The euro, Australian dollar, and Canadian dollar are all higher against the greenback, while the Japanese yen is down across the board. Those are classic "risk-on" correlations.

In company-specific news Progress Software is indicated higher after reporting strong quarterly results and announcing a $100 million share buyback. Clearwire and Dish Network may be active after DISH abandoned its takeover attempt for the broadband company. Winnebago also rose after third-quarter revenue increased more than analysts expected.
Share this article with your friends


Related Stories

SPX

Stocks fall as momentum weakens

August 4, 2015

S&P 500 futures have fought back from lows and are now down 0.2 percent, while of Europe slid about half a percent. Asia was mixed, with Shanghai popping about 3 percent from recent drops.

SPX

Factory orders top quiet agenda

August 4, 2015

The earnings calendar features CVS Health, Aetna, MGM Resorts, Regeneron, Mosaic, Sprint, and Emerson Electric before the opening bell.

SPX

Futures inch lower before reports

August 3, 2015

S&P 500 futures are down 0.1 percent, while most of Europe rose about half a percent. Asia mostly declined on poor economic data, led by declines in Shanghai and Seoul.

SPX

ISM data kicks off busy calendar

August 3, 2015

Several noteworthy data reports comeout today, including the Institute for Supply Management's manufacturing index, construction spending, and personal income.

SPX

Stocks inch lower on mixed news

July 31, 2015

S&P 500 futures are off 0.1 percent, mostly tracking the moves in Europe. Asia was mostly higher, led by again of 1.5 percent in Mumbai, though Shanghai dropped 1.1 percent.

OptionsHouse

Premium Services

Archived Webinar

Education & Strategy

Options Academy: Stops

With the growing popularity of the Advantage Point newsletter, we are picking up new members every single day. So, the powers that be have asked me to stray away from our Option Theory and Strategy topics and discuss a couple of topics related to our weekly trade ideas. This week we are going to talk about how to set and execute our stops.

View more education articles »