Stocks are rallying big time into the close today with the Dow up 167 points, the Nasdaq is up 41 points and the S&P 500 is up 18 points. Optimism about the U.S. economy and the debt crisis in Europe has sent the Dow well over 13,100. The Fed’s statement today showed no change in policy. They did say however that inflation could see an increase due to higher energy costs. [Read more...]
Stocks continue to build onto their gains in afternoon trading as each of the major indices are up more than 0.5%. The market rebounded today after yesterday’s decline thanks to better than expected economic data. With about an hour left in the trading day the Dow is up 81 points, the Nasdaq is up 26 points and the S&P 500 is up 9 points.
Amazon.com, Inc. (NASDAQ:AMZN) is up 1.36% this afternoon at $183.59. AMZN has traded 3.7 million shares so far today and trades 6.1 million shares a day on average. Weekly March 9 AMZN options are seeing decent volume today with over 10,000 contracts traded at strike prices $185. Calls at $185 have traded over 7,000 contracts and are up $0.57 at $1.60. Puts have traded more than 3,000 contracts and are down $2.66 at $2.44. [Read more...]
The stock market is up slightly heading into midday trading today. News of new home sales dipping sent stock briefly negative shortly after market open. The price of oil continues to rise today and is nearing $109/barrel. The main cause to oil’s recent rise is the tensions between Iran and Western countries. Iran has recently ceased exporting oil to Britain and France. Europe had already imposed sanctions against Iran to stop importing their oil, but they were not going to go into effect until this summer. The Dow is up 23 points right now, the Nasdaq has gained 11 points and the S&P 500 is up 5 points.
SPDR S&P 500 ETF (NYSEARCA:SPY) is up 0.35% today at $137.11. SPY is an ETF that moves in conjunction with the S&P 500. If the S&P rises, and works the same way when it falls. SPY is seeing a lot of action today on the Feb 24 weekly contract at $136 strike price. Over 48,500 contracts have been traded so far today and are up $0.27 from the previous close at $1.17. The March 2 weekly contract at $137 strike price is also seeing decent volume with more than 48,000 contracts trading hands. [Read more...]