Monday Options Recap

Frederic Ruffy submits: Sentiment

Weakness in overseas markets set the table for a round of selling on Wall Street Monday morning. Japan's Nikkei traded down 3.1 percent on weak GDP data. Meanwhile, China and other economies that rely heavily on the US consumer for exports, stumbled after economic data late last week showed big unexpected drops in consumer confidence (U of Michigan) and July retail sales.

Home improvement retailer Lowe's (LOW) added to the worries about consumer spending. Shares are down $2.36 to $20.47 after the company reported second quarter earnings that missed Street expectations and also guided estimates lower for the third quarter.

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