Thursday Options Recap

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 battled back from early weakness and are trading mixed late Thursday. Economic data was in focus early after the Labor Department reported that its Producer Price Index [PPI] rose a greater-than-expected .7 percent in March. Economists were expecting the gauge of inflation at the wholesale level to rise .2 percent. The spike in the PPI seemed to overshadow a report that showed jobless claims falling by 24,000 to 456,000 last week.

Frederic Ruffy submits: Sentiment Stocks are lower on disappointing economic data, but trading has been orderly so far. Stock index futures were holding higher after the euro ran back towards 1.24 against the buck early Thursday and despite a round of disappointing economic news. Data released before the bell showed filings for jobless benefits increasing by 12K to 472K in the week ended June 12. Economists were looking for a decline of about 10K.

Frederic Ruffy submits: SentimentThe major averages have given up early gains and are trading modestly lower late Wednesday. The stage was set for strength at the open when ADP reported that the US economy lost 20,000 private sector jobs in February, which was less than the 50,000 drop that economists had predicted.

Frederic Ruffy submits: Sentiment Stock market averages are trading mixed amid increasing options volume due to the expiration. After sliding 179 points Wednesday, the Dow Jones Industrial Average opened modestly higher on better-than-expected weekly jobless claims and housing starts numbers. However, there was more bad news on the manufacturing front after the Philadelphia Fed Survey showed a surprise drop on -7.8 in June. Economists were looking for +9.

Frederic Ruffy submits: SentimentAn exciting trading session Thursday was not.

Frederic Ruffy submits: SentimentMajor averages slipped on disappointing economic news and are trading lower late Thursday. Data released before the bell showed weekly jobless claims increasing by 13,000 in the period ended October 9. Economists were expecting an increase of just 1,000. Two separate reports showed the PPI up a hotter-than-expected .4 percent (vs. .2 percent consensus) and the trade deficit widening to $46.5 billion (vs. $44.5 billion consensus).

Frederic Ruffy submits: SentimentStocks are broadly lower, as weakness in overseas markets and disappointing economic data once again conspired to raise anxiety levels on Wall Street Thursday. Stock index futures tracked European and Asian benchmarks lower and then suffered additional losses when the Labor Department reported that jobless claims rose by 25,000 last week. Economists were looking for a drop of about 5,000.