Good morning folks,
It was an indecisive day yesterday and we didn't get that high volume follow through I would have liked to have seen. Today we have the employment report which could provide the catalyst that breaks us out of the tight range we have been trading in for several indexes and sectors.
Which direction we break is anyone's guess.
We get the rig count numbers later today and that could impact oil prices which showed some strength in the face of bearish news which can be viewed as sign of a potential bottom. If the rig count rises and we manage to close higher that would be a good sign that we may have seen a short term low. That would be good for the energy sector where we have seen some weakness lately.
The dollar, gold silver and miners were basically flat yesterday in anticipation of the jobs report. If there are any big surprises with the jobs report we would likely see a swift reaction from the group. After the move from the Bank of England yesterday the Fed would be hard pressed to raise the rate anytime soon. That could keep pressure on the dollar and give some strength to the precious metals, commodities and miners.
I will be doing my market wrap and stocks to watch after the close today.
Today's Markets
In Asia, Japan flat at 16254. Hong Kong +1.4% to 22146. China -0.2% to 2977. India +1.3% to 28078.
In Europe, at midday, London +0.4%. Paris +0.6%. Frankfurt +0.3%.
Futures at 6:20, Dow +0.2%. S&P +0.3%. Nasdaq +0.2%. Crude -0.9% to $41.56. Gold flat at $1367.90.
Ten-year Treasury Yield flat at 1.5%
In Europe, at midday, London +0.4%. Paris +0.6%. Frankfurt +0.3%.
Futures at 6:20, Dow +0.2%. S&P +0.3%. Nasdaq +0.2%. Crude -0.9% to $41.56. Gold flat at $1367.90.
Ten-year Treasury Yield flat at 1.5%
Today's Economic Calendar
8:30 Non-farm payrolls
8:30 International Trade
1:00 PM Baker-Hughes Rig Count
3:00 PM Consumer Credit
8:30 International Trade
1:00 PM Baker-Hughes Rig Count
3:00 PM Consumer Credit
Volatility OIL Biotech
UVXY XIV VXX TVIX UWTI DWTI GUSH DRIP USO LABD IBB LABU
VMIX VMAX
VMIX VMAX
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
*PR = Press Release
GGB Hot looking daily caught an upgrade yesterday Potential 3 test
ABTL small floater earnings beat
PACB earnings gapper
OCUL potential continuation
GGB Hot looking daily caught an upgrade yesterday Potential 3 test
ABTL small floater earnings beat
PACB earnings gapper
OCUL potential continuation
Stocks discussed in this week's Ticker TV
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The video above shares with you the layout of the new site and the features for both free and Pro members.
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We had some issues with the new chat room yesterday but those bugs were to be expected when you are rolling out a new service. Hopefully we will have those issues resolved by the end of the week.
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