The S&P 500 futures are trading below fair value, suggesting a lower market opening this mornin after the U.S. stocks closed higher yesterday on improved results on a bond auction in Spain offset European economic worries. The S&P 500 index ended the day at 1390.78, up 1.55%. Analyisi are looking for Abbott Laboratories (ABT, quote) to post earnings $0.99 per share vs. earnings of $0.55 in the same period one
IBM reports earnings excluding items of $2.78 a share, topping forecasts. Revenue came in at $24.67 billion, slightly short of expectations.
CAMS short for CurveAheadMarketStrategies.com screens found unusual CALL options buying at several strike levels at mid-day trading in the Consumer Staples Select Sector SPDR Fund (XLP, quote). Option traders are grabbing the May 34 CALL as well as strike level of 37 for Jan 13 and Jan 14 leaps.
March Housing Starts fell to 654K units annualized from February’s 694K. Traders were looking for an increase to 705K units annualized.
Tuesday’s Pre-Market Movers
Pre-Market Activity for April 16 @8:30 est
Week of April 15, 2012 Economic Calendar.
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