Analysis for Short Term Option Trading!
Outside Market Influences-
World News
World stock markets fell Thursday as signs of weakness in the world's two biggest economies kept investors at bay.
Benchmark oil lingered near $105 a barrel. The dollar fell against the euro and the yen.
Caution in markets stemmed from U.S. Commerce Department data that showed orders for durable goods rose 2.2 percent in February. While that compared favorably to a steep drop in January, analysts had expected orders to increase 2.7 percent.
Investors are also concerned that China's slowdown is accelerating. China is a huge importer of raw materials, so a slowing economy there can weigh on prices for raw materials.
Euro zone nations are falling far behind the United States and Canada as a fragile recovery takes root in advanced economies, the OECD said on Thursday, advising central banks to keep easy money flowing so the rebound does not prove short-lived.
US Markets
Even though money for major road and bridge projects is set to run out this weekend, House Republican leaders have struggled all week to round up the votes from recalcitrant conservatives simply to extend it for 90 or even 60 days. A longer-term transportation bill that contractors and the chamber say is vital to the recovery of the construction industry appears hopelessly stalled over costs.
Stock index futures extended losses on Thursday after data showed the domestic economy expanded as expected in the fourth quarter while initial jobless claims were slightly worse than expectations.
S&P 500 futures fell 5.5 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration of the contract. Dow Jones industrial average futures lost 26 points, and Nasdaq 100 futures shed 9 points.
Comments