• 
• See all for optionMONSTER
• View Print Version

• Bulls make big deposit in the banks
• V.F. attracts unusual bullish trade
• Put strategy may unlike Facebook

Stocks and commodities are weakening today after failing to hold their gains on yesterday.

The S&P 500 is marginally lower, tracking declines of one-quarter to half a percent in Europe. Most Asian markets were mixed overnight. The big standout was Japan's Nikkei, which rallied almost 2 percent as the yen continued to weaken.

The S&P 500 traded above 1430 on an intraday basis for the last two sessions but then closed below that level. The hesitation comes amid ongoing worries about the "fiscal cliff," which threatens to raise taxes and cut government spending in the United States unless lawmakers strike a budget deal by year-end.

Attention now turns to economic data, with U.S. retail sales and weekly jobless claims both due at 8:30 a .m. ET.

Commodities and currencies are also showing a pattern of mild risk aversion, with the euro, oil, and copper all losing value. Precious metals are especially hard hit, marked by declines of almost 3 percent for silver and 1.3 percent for gold. Agricultural foodstuffs are down.

In company-specific news, Best Buy is rallying more than 11 percent after the Minneapolis Star Tribune reported that company founder Richard Shulze will offer $5 billion to $6 billion for the ailing electronics retailer.

Boston Beer is indicated to open higher after raising guidance, while Endo Health Solutions dropped on news that its 2013 results will miss estimates. Clearwire is also up 10 percent after Sprint Nextel offered to buy outstanding shares in the broadband company for $2.90.

Related Options Articles

• 
  Dow Posts First Weekly Loss Since Mid-April
  5/24/2013 04:26 PM
• 
  Can Ebix Overcome the Rumors?
  5/24/2013 03:17 PM
• 
  Bulls charge into Facebook at lows
  5/24/2013 01:20 PM