Options Expiring for January

S&P 500 is trading with moderate losses due to the strong U.S dollar. The consumer price index (CPI) came in-line with the expectations at a pace of 0.1% increase which is much lower than the previous 0.4% increase in November. Slow housing and consumer sector basically keeping the inflation worries down.

Meanwhile, industrial production also showed signs of weakness, though the 0.6% growth was widely expected.

Eyes are turned to consumer sentiment which will be released in the nest 10 minutes.

S&P 500 is still under selling pressure. It is trading its day-lows now at 1143,24. The weakness is wide spread. Except consumer staples all the sectors of S&P 500 is trading with moderate losses. The main laggard at this hour is the financials, down 1.31%.

U.S dollar is making a comeback, trading with confidence at 77.19, up 0.60%. The strength of dollar, mainly against euro, was mainly due to the worries about Greece's financial situation.

Consumer sentiment, The University of Michigan's Consumer Survey that questions 500 households each month, was just released. The numbers came rather disappointing. Though it is better than the last reading of 72.5, it is still much lower than the widely expected number of 74. Sellers immediately redoubled their efforts, sending S&P 500 to its day-lows.