Monday Options Recap

Frederic Ruffy submits: SentimentStocks are broadly higher following strong gains in Europe and upbeat domestic economic news Monday. Stock index futures rose overnight along with European benchmarks after HSBC (HBC) and BNP Paribas posted strong earnings. Then, attention turned to the ISM Manufacturing Index for July at 10:00 a.m. eastern time.

Frederic Ruffy submits: SentimentTrading was quiet throughout most of the session and then the stock market averages came under fire late Tuesday. The Dow and NASDAQ held steady early despite weakness in equity markets across much of Asia and Europe. Then, existing home sales numbers came into focus at 10:00 eastern time. The data showed a surprise drop to an annual rate of 5.66 million in May, down from 5.79 million in April and much worse than the 6.1 million that economists were expecting.

Frederic Ruffy submits: SentimentStocks are rallying following a day of gains in Europe and a round of mixed economic news Thursday. Stock benchmarks across Europe were led higher by a 2 percent gain in France’s CAC 40 Index on diminishing worries about the European Debt Crisis. The euro also rallied, gaining .0101 to 1.2081 against the buck.

Frederic Ruffy submits: SentimentThe table was set for morning gains on Wall Street after stock market averages moved broadly higher across the Euro-zone. Spain’s IBEX rallied 5.4 percent on news of a successful bond auction in Portugal.

Frederic Ruffy submits: SentimentMajor averages are holding modest gains in slow trading Monday. With no earnings or economic data to guide the morning action, stocks were mixed early.

Frederic Ruffy submits: SentimentMajor averages have given up early gains and are trading lower late-Monday. The tone of morning trading was positive despite mixed economic news. A report released before the opening bell showed personal incomes falling .1 percent and spending up .2 percent in September. Economists were looking for increases of .2 percent and .4 percent, respectively.

Frederic Ruffy submits: Stocks are broadly higher late Monday. With no economic data or earnings to guide the morning action, the early focus was on the financials after regulators met over the weekend in Basel, Switzerland, to discuss capital ratios. Officials decided banks should increase capital over the next eight years or so and that was not as strict as some market watchers had feared. Consequently, a relief rally lifted the banks.

Frederic Ruffy submits: SentimentStocks are holding modest gains on a relatively slow news day Monday. With no economic data or earnings of significance to guide the action, much of the focus remains across the Atlantic where European benchmarks moved broadly higher on better-than-expected industrial production data. The euro also rallied and recaptured the 1.22 level.