Today's employment report caps off tremendous amount of potentially market moving data in shortened holiday week and so far the markets have held up extremely well. The IWM and the IBB being especially impressive with their performance this week.
We had the big OPEC meeting that ended with no agreement and while oil initially pulled back on the lack of unity it managed to show some stability keeping many of the good looking setups in the energy sector in tact.
The next big event will be the Fed and whether or not they raise the rate. Today's employment report could pave the way for that to happen. If it comes in strong enough the Fed could make the case that the time is right for an increase. If the report does come in hot then look for the dollar to strengthen and Gold and miners to potentially weaken. If the number comes in weak gold and miners may actually catch a nice boost and the dollar could weaken. The latter scenario would make it difficult for the Fed to justify a rate increase in June.
This week has played out extremely well according to the plan I laid out in last weeks market wrap video. Far more people watch the Stocks to Watch video and the is understandable but knowing what sectors are working and what sectors are struggling gives us a bigger picture point of view and that can help us narrow our focus when we are looking for stocks to watch.
I will be doing this weeks market wrap after the close and I will be doing next weeks stocks to watch live on Ticker TV Sunday @ 8 am Vegas time.
Today's Markets
In Asia, Japan +0.5% to 16642. Hong Kong +0.4% to 20947. China +0.5% to 2939. India flat at 26,843 .
In Europe, at midday, London +1%. Paris +0.5%. Frankfurt +0.6%.
Futures at 6:20, Dow flat. S&P flat. Nasdaq -0.1%. Crude flat at $49.17. Gold +0.1% to $1213.70.
Ten-year Treasury Yield -1 bps to 1.80%
Today's Economic CalendarIn Europe, at midday, London +1%. Paris +0.5%. Frankfurt +0.6%.
Futures at 6:20, Dow flat. S&P flat. Nasdaq -0.1%. Crude flat at $49.17. Gold +0.1% to $1213.70.
Ten-year Treasury Yield -1 bps to 1.80%
3:45 Fed's Evans: U.S. Economic and Monetary Policy
8:30 Non-farm payrolls
8:30 International Trade
9:45 PMI Services Index
10:00 Factory Orders
10:00 ISM Non-Manufacturing Index
12:30 PM Fed's Bralnard: U.S. Economic and Monetary Policy
1:00 PM Baker-Hughes Rig Count
ETF's on my Radar 8:30 Non-farm payrolls
8:30 International Trade
9:45 PMI Services Index
10:00 Factory Orders
10:00 ISM Non-Manufacturing Index
12:30 PM Fed's Bralnard: U.S. Economic and Monetary Policy
1:00 PM Baker-Hughes Rig Count
Volatility OIL Biotech
UVXY XIV VXX TVIX VMIX VMAX UWTI DWTI GUSH DRIP USO LABD IBB LABU
UVXY XIV VXX TVIX VMIX VMAX UWTI DWTI GUSH DRIP USO LABD IBB LABU
Gold SILVER Dollar Financials
GLD NUGT JNUG USLV UUP FAS XLF FAZ HYG JNK
Minerals and Miners Utilities RETAIL Transportation
XME GDX GDXJ XLU XRT IYT XTN
DUST JDST
Agriculture SPY
DBA, DAG SPXS SPXL
STOCKS ON MY RADAR PREMARKET
ERII new contract potential 11 test and rollVMEM insider buy 500k shares @ .49 cents
MITK CC potential bounce plays as companies come out to defend themselves against short sellers
MRUS Novartis reports 13 percent passive stake recent IPO potential 9 test
AMBA gapper could set up for a fade
EBIO could see some follow through on the 2 test and roll
GWPH caught an upgrade CARA and INSY could move in sympathy
*PR means press release*
This weeks Ticker Tv Stocks to watch and their performance below
This weeks Ticker Tv Stocks to watch and their performance below
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