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: SentimentWhat an exciting trading day this is not. The major averages slipped in morning action following a round of mixed economic news. Before the opening bell, the Labor Department reported that filings for jobless benefits declined by 3,000 in the week ended September 11. Economists were looking for an increase of 7,000.

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: SentimentStocks traded broadly higher, but the tone of trading turned cautious and the market action is mixed late Wednesday. A modest rebound in the Euro and gains in Europe’s equity markets helped set the table for morning gains on Wall Street. Germany’s DAX paced the advance with a 2.1 percent gain. Attention then shifted to Fed Chairman Ben Bernanke’s testimony to Congress at 10:00.

Frederic Ruffy submits: SentimentStocks are broadly lower amid escalating tensions in Korea and ongoing worries about the European Debt Crisis. Markets traded broadly lower across Asia after North and South Korea exchanged artillery fire. Meanwhile, in Europe, ongoing worry about deepening debt problems has the euro falling back towards 1.33, from about 1.355 late-Monday. European equity markets also suffered steep losses Tuesday, which set a negative tone for early trading on Wall Street.

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 broadly higher for a second day. The table was set for morning gains on Wall Street after Europe’s equity markets rallied for a second consecutive session. Spain’s IBEX once again led the advance with a gain of 2.8 percent. Meanwhile, the euro steadied and, in the US, attention turned to a round of mostly upbeat same store sales numbers from retailers released Thursday morning.

Frederic Ruffy submits: SentimentMajor averages are broadly lower in slow, cautious trading ahead of this week’s busy economic calendar. Personal incomes and spending data was in focus early Monday. The data showed personal incomes up .2 percent and spending increasing .4 percent, which was roughly in-line with expectations. The numbers didn’t do much and the major averages slipped in morning trading.