Friday, June 19, 2009
Fresh Highs
S&P is trying new highs for the day at this hour. It, again hit the wall at 927.09 for the second time. It is now trading near highs at 926.09. Utilities is the only laggard of S&P 500, down 0.07%
Update
Stocks started the day with solid gains. S&P is now at 926.56, up 8.15 points. Utilities and consumer staples sectors are the main laggards of S&P. Health care, on the other hand leads the S&P in the early trading, up 1.04%.
Fixed income is trading with mixed fashion. 5-year and 10-year treasury yields are now pointing to solid gains, 0.88% and 1.15% respectively, while the 30-year yield is down slightly to 4.61.
U.S. Dollar index is currently trading with moderate losses at 80.44, down 0.19%. The index seems to be stuck in 79-81 range for almost a month now.
Rochdale just initiated Citigroup (C) with buy rating despite the bad management. Rochdale believes that C is the only international bank in the world and it would be very difficult to replace them in the near future. The stock is at $3.18 a share, up 1.58%.
Fixed income is trading with mixed fashion. 5-year and 10-year treasury yields are now pointing to solid gains, 0.88% and 1.15% respectively, while the 30-year yield is down slightly to 4.61.
U.S. Dollar index is currently trading with moderate losses at 80.44, down 0.19%. The index seems to be stuck in 79-81 range for almost a month now.
Rochdale just initiated Citigroup (C) with buy rating despite the bad management. Rochdale believes that C is the only international bank in the world and it would be very difficult to replace them in the near future. The stock is at $3.18 a share, up 1.58%.
Quadruple witching
S&P 500 futures vs fair value: +7.0 at 920.20. NASDAQ futures vs fair value: +12.25 at 1461.75. Stocks are pointing to a solid start on the third Friday of June. The strength at the stock exchange is mainly caused by the European markets. All major European bourses are trading in green, FTSE 100 up 1.89 % at 4361.65, DAX up 0.40% at 4856.72, and CAC 40 up 1.30% at 3235.62.
No events are scheduled on the economical calendar today.
Today, the final hour hour at stock exchange will bring us a very interesting experience called the quadruple witching; a day which contracts for stock index options, stock options, stock index futures, and the single stock futures all expire. There will be a great volatility at the final hour, up or down, however markets tend to correct themselves the following trading day.
No events are scheduled on the economical calendar today.
Today, the final hour hour at stock exchange will bring us a very interesting experience called the quadruple witching; a day which contracts for stock index options, stock options, stock index futures, and the single stock futures all expire. There will be a great volatility at the final hour, up or down, however markets tend to correct themselves the following trading day.
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