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 Post subject: January 10th Thursday Trade Results - Profit $2810.00
PostPosted: Thu Jan 10, 2013 7:14 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
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Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)

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click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $2810.00 dollars or +28.10 points, EuroFX 6E futures @ $0.00 dollars or +0.0000 ticks and Light Crude Oil CL (WTI) futures @ $0.00 dollars or +0.00 points. Total Profit @ $2810.00 dollars.

Russell 2000 Emini TF Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ The ICE
Light Crude Oil CL (WTI) Futures: 1 tick or 0.01 = $10.00 dollars and there's more contract information @ CMEGroup
CME EuroFX 6E Futures: 1 tick or 0.0001 = $12.50 dollars and there's more contract information @ CMEGroup
S&P 500 Emini ES Futures: 1 tick or 0.25 = $12.50 dollars and there's more contract information @ CMEGroup

In addition, all trades were posted real-time in the free #TheStrategyLab chat room. You can read today's #TheStrategyLab trading chat room logs for details (e.g. time, price, contract size) about each one of my trades from entry to exit along with price action commentary as the trade traversed in comparison to what's shown in the above image...all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=113&t=1410

Also, posted below are direct links to information about my price action trade methodology and trading plan (there's a difference between the two) that enables me to identify key trading areas in the price action that represent changes in supply/demand and volatility along with being able to exploit these changes via WRB Analysis (wide range body/bar analysis). I'm primarily a day trader because it suits my personal lifestyle but I do occasionally swing trade and position trade.

Image Price Action Analysis via WRB Analysis Tutorials @ http://www.thestrategylab.com/WRBAnalysisTutorials.htm and there's a free study guide of the WRB Analysis Tutorial Chapters 1, 2 and 3 @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=119&t=718

Image Trade Signal Strategies via Volatility Trading Report (VTR) @ http://www.thestrategylab.com/VolatilityTrading.htm and there's a free trade signal strategy @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=89 so that you can freely test drive one of our price action trade strategies with support prior to purchasing the Volatility Trading Report (VTR).

Image Trading Plan Daily Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=199&t=1715

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Market Summaries

The below summaries by Bloomberg, CNNMoney, Reuters and Yahoo! Finance helps me to do a quick review of the fundamentals, FED/ECB/IMF actions or any important global economic events (e.g. Eurozone, MarketWatch.com) that had an impact on today's price action in many trading instruments I monitor during the trading day. Simply, I'm a strong believer that key market events causes key changes in supply/demand and volatility resulting in trade opportunities (swing points and strong continuation price actions) that reach profit targets. Thus, I pay attention to these key market events, intermarket analysis (e.g. Forex EurUsd, Gold GC futures, Oil CL & Brent futures, Eurex DAX futures, Emini ES futures, Emini TF futures, Treasury ZB futures) while using WRB Analysis from one trade to the next trade to give me the market context before the appearance of my technical analysis trade signals. Therefore, I maintain these archives to allow me to understand what was happening on any given trading day in the past involving key market events to help better understand my trade decisions (day trading, swing trading, position trading)...something I can not get from my broker statements alone.

S&P 500 At 5-Year High

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click on the above image to view today's price action of key markets

NEW YORK (CNNMoney)
U.S. stocks logged a second straight day of gains Thursday, pushing the S&P 500 to a fresh 5-year closing high. But investors are still cautious ahead of a slew of earnings reports next week.

The Dow Jones industrial average edged up 0.6% and S&P 500 gained 0.8%, closing at its highest level since December 2007. The Nasdaq edged up 0.5%. Financials were among the biggest winners, with Bank of America (BAC, Fortune 500) and JPMorgan Chase (JPM, Fortune 500) leading the gains on the Dow.

But there was little in the way of new data to move stocks Thursday. While companies have begun to open their books, it's premature to make a bold declaration about how well companies did in the fourth quarter and what their outlooks will be like.

"We've got some positive surprises, but there's still a lot of uncertainty about what exactly the global economy looks like," said Kim Forrest, senior equity analyst at Fort Pitt Capital. "We've got to hear from the larger global companies like General Electric (GE, Fortune 500) to get a better sense of where the economy is headed."

Overall, analysts expect earnings for companies in the S&P 500 to grow 2.4% year-over-year, according to FactSet Research, with banks expected to lead the way. Wells Fargo (WFC, Fortune 500) reports results Friday. It's the first large bank to release its earnings.

But after the closing bell Thursday, American Express (AXP, Fortune 500) announced it was cutting 5,400 jobs. The credit card giant also said that earnings for the fourth quarter would be better than expected.

In other corporate news, Supervalu (SVU, Fortune 500) reported that it swung to a profit during its fiscal third quarter. The grocery store operator also announced that it will sell Jewel-Osco, Albertson's and some of its chains to Cerberus Capital Management, a New York-based investment firm, for $3.3 billion. Shares of Supervalu surged.

Shares of Nokia (NOK) rallied after the phone company reported better-than-expected sales for its handset business.

* Earnings: Banks will lead growth

Nutritional supplement company Herbalife (HLF) hosted an investor conference to rebut charges from hedge fund manager Bill Ackman that it's running a pyramid scheme. Herbalife executives were confident in the company's defense, saying it's a "legitimate company with legitimate customers." The stock had a volatile day, finishing down nearly 2%.

Shares of Tiffany & Co (TIF) declined after the luxury retailer said sales during the holiday season rose just 4% worldwide, at the low-end of the company's expectations. Tiffany said it now expects its full-year profit to be at the lower end of its prior forecast. The company also said earnings growth in 2013 will be subdued due to uncertainty about the economy in all of its major markets.

Investors also digested fresh data on the labor market Thursday. The number of people filing for initial jobless claims rose 4,000 to 371,000 in the latest week.

A separate report showed that wholesale inventories rose 0.6% in November, which was higher than expected.

* Fear & Greed Index

European markets finished mixed. The FTSE 100 gained ground, but Germany's DAX and France's CAC 40 ended in the red. Both the European Central Bank and the Bank of England held interest rates at record lows on Thursday morning.

Asian markets ended higher following positive trade data from China. The Shanghai Composite added 0.4%, the Nikkei advanced 0.7% and the Hang Seng jumped 0.6%.

The dollar fell against the euro and the pound, but gained ground versus the Japanese yen.

Oil and gold prices rose.

The price of the 10-year Treasury declined, pushing the yield up to 1.90% from 1.85% late Wednesday.

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Market Update

4:15 pm : Equities began today's session on a positive note after China's trade surplus expanded to $31.6 billion due to strong export growth. The upbeat open was followed by a late-morning stumble, but the S&P 500 showed resilience and climbed to fresh highs. The benchmark index ended with a gain of 0.8%.

The financial sector paced the advance, and the SPDR Financial Select Sector ETF (XLF 17.15, +0.21) settled higher by 1.3%. The financial sector proxy ETF ended at a fresh 52-week high with most majors scheduled to announce their fourth quarter earnings next week. Tomorrow morning, Wells Fargo (WFC 35.40, +0.69) will be the first notable sector component to report. The Capital IQ consensus expects the bank to reveal earnings of $0.89 on $21.26 billion in revenue. An in-line report would indicate healthy year-over-year bottom line growth of nearly 22.0%. Looking at other majors, Bank of America (BAC 11.78, +0.35) gained 3.1% and Morgan Stanley (MS 20.34, +0.72) advanced 3.7%.

The technology sector spent the majority of the session in the red, but late-day strength in the shares of Apple (AAPL 523.51, +6.41) saw the stock rise by nearly $10, and pushed the tech sector higher. The notable bid followed comments from Apple's chief of marketing who said the company "is not interested" in making cheap, low-profit products. The largest tech company was in the news earlier this morning when Reuters reported Chief Executive Officer Tim Cook met with the chairman of China Mobile (CHL 58.75, +1.45) to talk about "matters of cooperation." China Mobile, which has over 700 million subscribers, does not currently offer Apple products on its network.

Among names reacting to analyst comments, Microsoft (MSFT 26.46, -0.24) shed 0.9% after Morgan Stanley downgraded the stock to ‘Equal-Weight' from ‘Overweight.'

Teen retailers lagged the broader market after Aeropostale (ARO 13.24, -0.13) issued downside earnings guidance due to disappointing holiday sales. Aeropostale shed 0.9% and peer American Eagle Outfitters (AEO 19.94, -0.69) settled lower by 3.3%.

Elsewhere, Tiffany (TIF 60.40, -2.86) slumped 4.5% after the jewelry retailer said it expects its fourth quarter earnings to be near the low end of its prior guidance range. Peers Blue Nile (NILE 36.58, -0.57) and Coach (COH 57.49, -0.47) both lost near 1.0%.

The latest weekly initial jobless claims count totaled 371,000, which was worse than the 364,000 that had been expected by the Briefing.com consensus. The tally was above the revised prior week count of 367,000. As for continuing claims, they fell to 3.109 million from 3.236 million.

In tomorrow's economic data, November trade balance, export prices ex-agriculture, and import prices ex-oil will all be reported at 8:30 ET. Lastly, the U.S. Treasury will release its December budget at 14:00 ET.DJ30 +80.71 NASDAQ +15.95 SP500 +11.10 NASDAQ Adv/Vol/Dec 1443/1.70 bln/1036 NYSE Adv/Vol/Dec 1938/726.9 mln/1046

3:30 pm :

Crude oil spent its entire session in the black but pulled-back from its session high of $94.61 per barrel set at the pit trade open. Still, it settled 0.8% higher at $93.82 per barrel as a weaker dollar index provided the energy component with support. In addition, reports indicated that there was a pipeline explosion in Yemen that halted exports.
Natural gas rose on strong inventory data that showed a draw of 201 bcf when a draw of 189 bcf was anticipated. It climbed as high as $3.21 per MMBtu and settled with a 2.6% gain at $3.19 per MMBtu.
Gold rose during today's pit trade as the dollar index weakened. Strength came on the ECB press conference where President Mario Draghi noted that today's ECB's decision to leave benchmark rate unchanged was unanimous. The yellow metal came off its session low of $1660.30 per ounce and traded in a consolidative fashion near its session high of $1678.80 per ounce in afternoon action. It eventually settled at $1677.90 per ounce, or 1.3% higher.
Silver also trended higher during today's floor session. It lifted off its session low of $30.45 per ounce and settled at $30.93 per ounce, booking a gain of 2.2%.

DJ30 +77.70 NASDAQ +15.81 SP500 +10.35 NASDAQ Adv/Vol/Dec 1401/1410.1 mln/1056 NYSE Adv/Vol/Dec 1925/480 mln/1046

3:05 pm : The S&P 500 is firmer by 0.7% after rising to a fresh session high. The recent move saw upticks across most sectors with the move being most pronounced in financials, industrials, and technology.

Apple (AAPL 522.15, +5.05) is higher by 1.0% after adding more than $5 during the recent move higher. The strength coincided with comments made by the company's Chief of Marketing to Shanghai Evening News. During the interview, Mr. Schiller said his company "is not interested" in making cheap, low-profit products.DJ30 +71.46 NASDAQ +11.57 SP500 +9.50 NASDAQ Adv/Vol/Dec 1332/1.29 bln/1134 NYSE Adv/Vol/Dec 1859/444.3 mln/1100

2:35 pm : Equities are holding their recent levels and the S&P 500 is up 0.4%.

The dollar index is down over 1.0% and the euro is adding over 200 pips against the greenback. This morning, the European Central Bank held its key interest rate at 0.75%. In addition, ECB President Mario Draghi said that the decision to hold rates unchanged was unanimous. However, it should be noted that Mr. Draghi also mentioned the recent improvement in the finances of the region are yet to be seen in the real economy.DJ30 +41.21 NASDAQ +0.71 SP500 +5.53 NASDAQ Adv/Vol/Dec 1175/1.18 bln/1283 NYSE Adv/Vol/Dec 1718/408.4 mln/1245

2:00 pm : The S&P 500 is adding 0.4% as quiet trade continues.

Automakers are seeing relative strength and Ford Motor (F 13.80, +0.33) is higher by 2.5%. Earlier, the carmaker doubled its quarterly dividend to $0.10 from $0.05. The first quarter dividend will be payable on March 1, 2013 to shareholders of record as of January 30, 2013. Peer General Motors (GM 30.18, +0.21) is firmer by 0.7% after the company said its Opel unit is not for sale.DJ30 +45.40 NASDAQ +2.73 SP500 +6.11 NASDAQ Adv/Vol/Dec 1203/1.09 bln/1247 NYSE Adv/Vol/Dec 1739/377.1 mln/1214

1:30 pm : The S&P 500 continues to hover near its recent levels, up 0.4%.

The Dow Jones Transportation Average is adding 0.3% as most components trade higher. Earlier, Goldman Sachs issued a sector-wide upgrade of airfreight, airline, and trucking stocks. In addition, the investment bank downgraded the railroad sector. Railroads are responding to the news by trading lower. CSX (CSX 20.30, -0.24) and Kansas City Southern (KSU 85.28, -0.91) are both shedding near 1.0%.

Among the names affected by the upgrade, Delta Air Lines (DAL 12.36, +0.25) is higher by 1.9%.DJ30 +33.81 NASDAQ +1.81 SP500 +5.15 NASDAQ Adv/Vol/Dec 1178/1.01 bln/1251 NYSE Adv/Vol/Dec 1734/350.8 mln/1207

1:05 pm : Equities began the day firmly higher before surrendering a portion of their early gains. The S&P 500 marked its session high in the 1469 area during the initial minutes, and followed the upbeat open with a slide back to its flat-line. The index has since returned to the middle of its range, and it trades higher by 0.4% at midday.

The financial sector is leading the broader market as the SPDR Financial Select Sector ETF (XLF 17.08, +0.15) trades higher by 0.9%. The financial sector proxy ETF remains near its 52-week high with most majors scheduled to announce their fourth quarter earnings next week. Tomorrow morning, Wells Fargo (WFC 35.02, +0.31) will be the first notable sector component to report. The Capital IQ consensus expects the bank to reveal earnings of $0.89 on $21.26 billion in revenue. An in-line report would indicate healthy year-over-year bottom line growth of nearly 22.0%. Looking at other majors, Bank of America (BAC 11.70, +0.27) is higher by 2.4% and JPMorgan Chase (JPM 45.92, +0.45) is adding 1.0%.

The technology sector is the only space trading in the red. Looking at notable movers, Apple (AAPL 515.82, -1.28) saw early strength, but is now off by 0.3%. The early strength followed reports from Reuters which indicated the company's Chief Executive Officer Tim Cook met with the chairman of China Mobile (CHL 58.33, +1.03) to talk about "matters of cooperation." China Mobile, which has over 700 million subscribers, does not currently offer Apple products on its network.

In earnings, DragonWave (DRWI 2.75, -0.67) is plunging 19.6% after missing on earnings. In addition, the company issued downside fourth quarter guidance.

Among names reacting to analyst comments, Microsoft (MSFT 26.30, -0.40) is down 1.5% after Morgan Stanley downgraded the stock to ‘Equal-Weight' from ‘Overweight.'

Retailers are lagging the broader market, and the SPDR S&P Retail ETF (XRT 62.76, -0.26) is down 0.4%. Earlier, Aeropostale (ARO 12.86, -0.50) issued downside earnings guidance due to disappointing holiday sales. Aeropostale is down 3.8% and peer American Eagle Outfitters (AEO 19.72, -0.91) trades lower by 4.4%.

Elsewhere, Tiffany (TIF 60.57, -2.69) is slumping 4.3% after the jewelry retailer said it expects its fourth quarter earnings to be near the low end of its prior guidance range. Peers Blue Nile (NILE 36.55, -0.60) and Coach (COH 56.97, -0.99) are both down near 1.5%.

The latest weekly initial jobless claims count totaled 371,000, which was worse than the 364,000 that had been expected by the Briefing.com consensus. The tally was above the revised prior week count of 367,000. As for continuing claims, they fell to 3.109 million from 3.236 million.

The European markets ended the day on a mixed note. France's CAC lost 0.4%, Germany's DAX lost 0.2%, and the United Kingdom's FTSE added 0.1%.

In France, the newest index component, Gemalto, was the weakest performer and lost 4.6%. On the upside, Credit Agricole and Societe Generale both gained near 2.0%.

Germany's DAX was pressured by defensive stocks. Fresenius Medical and parent company Fresenius SE saw respective losses of 2.5% and 1.9% after Credit Suisse downgraded Fresenius Medical to ‘Neutral.' The rating cut resulted from the expectation that U.S. healthcare cost cuts may negatively impact earnings.

In the United Kingdom, distributor Bunzl advanced 3.4% after announcing three acquisitions. Consumer stocks were among the laggards and Tate & Lyle lost 1.3%.DJ30 +44.56 NASDAQ +1.08 SP500 +5.88 NASDAQ Adv/Vol/Dec 1138/931.1 mln/1269 NYSE Adv/Vol/Dec 1754/327.7 mln/1182

12:30 pm : The S&P 500 is adding 0.3% as the index trades near the middle of the day's range.

The European markets ended the day on a mixed note. France's CAC lost 0.4%, Germany's DAX lost 0.2%, and the United Kingdom's FTSE added 0.1%.

In France, the newest index component, Gemalto, was the weakest performer and lost 4.6%. On the upside, Credit Agricole and Societe Generale both gained near 2.0%.

Germany's DAX was pressured by defensive stocks. Fresenius Medical and parent company Fresenius SE saw respective losses of 2.5% and 1.9% after Credit Suisse downgraded Fresenius Medical to ‘Neutral.' The rating cut resulted from the expectation that U.S. healthcare cost cuts may negatively impact earnings.

In the United Kingdom, distributor Bunzl advanced 3.4% after announcing three acquisitions. Consumer stocks were among the laggards and Tate & Lyle lost 1.3%.DJ30 +25.78 NASDAQ +1.09 SP500 +4.42 NASDAQ Adv/Vol/Dec 1088/820.1 mln/1308 NYSE Adv/Vol/Dec 1649/299.4 mln/1253

12:00 pm : The S&P 500 is higher by 0.2% as the index hovers near its recent levels.

Retailers are underperforming the broader market, and the SPDR S&P Retail ETF (XRT 62.58, -0.44) is down 0.7%. Earlier, Aeropostale (ARO 12.14, -1.23) issued downside earnings guidance due to disappointing holiday sales. Aeropostale is down 5.8% and peer American Eagle Outfitters (AEO 20.00, -0.63) trades lower by 5.1%.

Elsewhere, Tiffany (TIF 58.00, -5.36) is slumping 8.5% after the jewelry retailer said it expects its fourth quarter earnings to be near the low end of its prior guidance range. Peers Blue Nile (NILE 36.00, -1.15) and Coach (COH 56.80, -1.16) are both down in excess of 2.0%.DJ30 +22.60 NASDAQ -1.15 SP500 +3.50 NASDAQ Adv/Vol/Dec 1094/727.1 mln/1281 NYSE Adv/Vol/Dec 1594/271.7 mln/1292

11:35 am : The major averages have risen off their recent lows, and the S&P 500 is higher by 0.2%.

The technology sector is underperforming the broader market despite showing early strength. Looking at notable movers, Apple (AAPL 518.36, +1.26) saw early strength, but is now adding just 0.2%. The early strength followed reports from Reuters which indicated the company's Chief Executive Officer Tim Cook met with the chairman of China Mobile (CHL 58.17, +0.87) to talk about "matters of cooperation." China Mobile, which has over 700 million subscribers, does not currently offer Apple products on its network.

In earnings, DragonWave (DRWI 2.82, -0.60) is slumping 17.5% after missing on earnings. In addition, the company issued downside fourth quarter guidance.

Among names reacting to analyst comments, Microsoft (MSFT 26.46, -0.23) is down 0.9% after Morgan Stanley downgraded the stock to ‘Equal-Weight' from ‘Overweight.'DJ30 +10.25 NASDAQ -1.41 SP500 +2.66 NASDAQ Adv/Vol/Dec 1090/644.3 mln/1259 NYSE Adv/Vol/Dec 1570/245.4 mln/1298

11:05 am : The S&P 500 has slipped to a fresh session low, but the index remains in the black, up 0.2%.

The financial sector is leading the broader market as the SPDR Financial Select Sector ETF (XLF 17.03, +0.10) trades higher by 0.6%. The financial sector proxy ETF remains at its 52-week high with most majors scheduled to announce their fourth quarter earnings next week. Tomorrow morning, Wells Fargo (WFC 35.10, +0.39) will be the first notable sector component to report. The Capital IQ consensus expects the bank to reveal earnings of $0.89 on $21.26 billion in revenue. An in-line report would indicate healthy year-over-year bottom line growth of nearly 22.0%.

Looking at other majors, Bank of America (BAC 11.58, +0.14) is higher by 1.3% and JPMorgan Chase (JPM 45.73, +0.26) is adding 0.6%.DJ30 +7.87 NASDAQ -0.15 SP500 +2.26 NASDAQ Adv/Vol/Dec 1091/527.2 mln/1243 NYSE Adv/Vol/Dec 1532/212.5 mln/1315

10:30 am : The dollar index sold off sharply this morning, on a spike in the euro, largely following comments from European Central Bank head Mario Draghi.

Natural gas futures remains near an 8 1/2-month low and about 22% lower from six weeks ago ahead of today's inventory data. Following the data, which showed a larger-than-expected draw, nat gas spiked to a new HoD of $3.20. In current action, Feb natural gas is +1.9% at $3.17/MMBtu.

Crude oil has been in positive territory all session and rose as high as $94.69/barrel. Feb crude has since pulled back and is now +0.9% at $93.94/barrel.

Precious metals gained steam this morning on the dropped in the dollar index and currently remain near session highs. Feb gold is now +1.3% at $1677.10/oz, while Mar silver is now +1.7% at $30.78/oz. Mar copper is +0.8% at $3.70/lb.DJ30 +7.10 NASDAQ +1.03 SP500 +2.71 NASDAQ Adv/Vol/Dec 1113/406.2 mln/1157 NYSE Adv/Vol/Dec 1520/177 mln/1289

10:00 am : The S&P 500 is adding 0.5% as the index continues to trade near its session high.

The materials sector is the weakest early performer. Looking within the space, Texas Industries (TXI 53.17, -2.80) is slumping 5.0% after the company reported mixed earnings. Though the provider of building materials reported revenue ahead of the Capital IQ consensus estimate, its earnings fell short of expectations.

Elsewhere, Molycorp (MCP 8.54, -2.25) is plunging 20.8% following an update from the company's new rare earth complex. While, the new facility is operational and moving towards full-scale production, Molycorp anticipates lower than expected revenue and cash flow for 2013.

On the upside, gold miners are outperforming. Newmont Mining (NEM 45.67, +0.77) and Royal Gold (RGLD 81.23, +1.69) are both up near 2.0%.DJ30 +42.53 NASDAQ +14.87 SP500 +6.49 NASDAQ Adv/Vol/Dec 1207/206.4 mln/982 NYSE Adv/Vol/Dec 1656/111.1 mln/1084

09:45 am : The major averages have seen an extension of the bullish pre-market sentiment, and the S&P 500 is higher by 0.4%.

Nokia (NOK 4.34, +0.59) is surging 16.0% after the company said the sales of its Lumia handset will result in better-than-expected fourth quarter earnings. However, the company still projects a decline in net sales when compared to December 2011.

Elsewhere, Apple (AAPL 523.14, +6.04) is advancing 1.2% following reports from Reuters which indicated the company's Chief Executive Officer Tim Cook met with the chairman of China Mobile (CHL 58.24, +0.94) to talk about "matters of cooperation." China Mobile, which has over 700 million subscribers, does not currently offer Apple products on its network.DJ30 +46.27 NASDAQ +16.68 SP500 +6.40 NASDAQ Adv/Vol/Dec 1248/145.3 mln/888 NYSE Adv/Vol/Dec 1749/90.1 mln/954

09:17 am : [BRIEFING.COM] S&P futures vs fair value: +7.30. Nasdaq futures vs fair value: +18.50. Heading into the open, equity futures are pointing to a higher start. The S&P 500 futures are rising by 0.5%.

Looking at pre-market movers, Supervalu (SVU 3.62, +0.58) is surging 19.1%. Earlier, the company reported third quarter earnings below the Capital IQ consensus estimate. However, the strength comes after the company confirmed the sale of five retail grocery banners to a group of investors led by Cerberus.

Elsewhere, Aeropostale (ARO 12.14, -1.23) is sliding 9.2% after the apparel retailer issued downside earnings guidance due to disappointing holiday sales. Peers American Eagle Outfitters (AEO 20.00, -0.63) and Abercrombie & Fitch (ANF 46.91, -0.47) are seeing respective losses of 3.1% and 1.0% in sympathy.

09:01 am : [BRIEFING.COM] S&P futures vs fair value: +7.50. Nasdaq futures vs fair value: +19.50.

U.S. equity futures continue to trade near their pre-market highs, and the S&P 500 futures are firmer by 0.5%.

The major Asian bourses ended mostly higher after China released strong trade data for the month of December. Interestingly, the Shanghai Composite (+0.4%) lagged many of the regional indices. China's trade surplus expanded to $31.6 billion ($20.1 billion expected, $19.6 billion previous) on 14.1% year-over-year export growth (5.0% expected). However, the data wasn't all good as new loans printed CNY454 billion (CNY550 billion expected). Meanwhile, data from elsewhere in the region saw Thai consumer confidence climb to 70.6 (69.4 previous) and Malaysian industrial production surge 7.5% year-over-year (5.7% year-over-year expected).
In Japan, the Nikkei added 0.7% as the weaker yen aided exporters. Honda Motor rallied 2.5% and Canon edged up 0.3%. Elsewhere, Isuzu Motors jumped 4.6% on reports of a joint-venture with General Motors in which they would design a next-generation pickup truck.
Hong Kong's the Hang Seng gained 0.6% as mainland names were the top performers. Aluminum Corp. of China surged 8.1% and telecom provider China Unicom jumped 2.4%.
In China, the Shanghai Composite advanced 0.4% as growth-sensitive names led the way. Shipper China Cosco Holdings ran 2.5% and Baoshan Iron & Steel ticked up 1.2%. Meanwhile, insurer Ping An edged down 0.2% after China's insurance regulator announced it was looking into the company's attempted acquisition of HSBC's stake in a Thai company.

European markets are mixed following policy statements from two central banks. The Bank of England held its key interest rate and the asset purchasing program unchanged at their respective 0.50% and GBP375 billion. Elsewhere, the European Central Bank left its key interest rate unchanged at 0.75%, as expected. Looking at economic data, France's CPI rose by 0.3% month-over-month, which was slightly below the generally expected uptick of 0.4%. French industrial production rose by 0.5% month-over-month, which was better than the broadly expected increase of 0.3%. In news, Russian Deputy Finance Minister Sergei Storchak said the country does not intend to grant Cyprus an interstate loan. This comes after German Chancellor Angela Merkel said yesterday that Cyprus must agree to a set of economic reforms before the European Union approves a Cypriot bailout. It is estimated that the sovereign would need about EUR17 billion in rescue funds.
France's CAC is shedding 0.1% and utilities are underperforming. GDF Suez and Electricite de France are both down near 1.0%. Meanwhile, financials are among the top advancers. Credit Agricole and Societe Generale are both adding 2.9%.
In the United Kingdom, the FTSE is up 0.1%. Distributor Bunzl is rising by 3.9% after the company announced three acquisitions. Marks & Spencer Group is down 2.4% after the company reported disappointing sales.
Germany's DAX is higher by 0.2% with financials in the lead. Commerzbank and Deutsche Bank are both adding in excess of 3.0%. On the downside, Fresenius Medical Care is off by 1.6% after Credit Suisse downgraded the stock to ‘Neutral' from ‘Outperform.'

08:32 am : [BRIEFING.COM] S&P futures vs fair value: +5.80. Nasdaq futures vs fair value: +16.00. U.S. equity futures are near their pre-market highs following the latest initial claims data.

The latest weekly initial jobless claims count totaled 371,000, which was worse than the 364,000 that had been expected by the Briefing.com consensus. The tally was above the revised prior week count of 367,000. As for continuing claims, they fell to 3.109 million from 3.236 million.

08:00 am : S&P futures vs fair value: +5.00. Nasdaq futures vs fair value: +11.50.

U.S. equity futures are modestly higher amid relatively quiet European trade. The S&P 500 futures are adding 0.3%.

Looking at overseas developments:

Asian indices finished higher. China's Shanghai Composite added 0.4%, Hong Kong's Hang Seng rose by 0.6%, and Japan's Nikkei advanced 0.7%.
In economic data:
China's trade balance pointed to a surplus of $31.60 billion, which was well ahead of the generally expected $19.70 billion.
Japan's leading index came in at 91.9, below the general consensus forecast, which called for a reading of 93.1.
In news:
Reports indicate the Bank of Japan is considering taking further easing measures and may purchase assets on an "unlimited basis."

European markets are mixed. France's CAC is off by 0.2%, the United Kingdom's FTSE is adding 0.1%, and Germany's DAX is rising by 0.3%.
Regional economic data was limited:
The Bank of England held its key interest rate and the asset purchasing program unchanged at their respective 0.50% and GBP375 billion.
The European Central Bank left its key interest rate unchanged at 0.75%, as expected.
France's CPI rose by 0.3% month-over-month, which was slightly below the generally expected uptick of 0.4%.
French industrial production rose by 0.5% month-over-month, which was better than the broadly expected increase of 0.3%.
In news:
Russian Deputy Finance Minister Sergei Storchak said the country does not intend to grant Cyprus an interstate loan. This comes after German Chancellor Angela Merkel said yesterday that Cyprus must agree to a set of economic reforms before the European Union approves a Cypriot bailout. It is estimated that the sovereign would need about EUR17 billion in rescue funds.

In U.S. corporate news:

Tiffany (TIF 58.00, -5.36) is slumping 8.5% after the jewelry retailer said it expects its earnings to be near the low end of its guidance range. Peer Coach (COH 56.80, -1.16) is down 2.0%.
Microsoft (MSFT 26.50, -0.20) is shedding 0.8% after Morgan Stanley downgraded the stock to ‘Equal-Weight' from ‘Overweight.'
CSX (CSX 20.20, -0.34) is lower by 1.7% after Goldman Sachs and Raymond James both downgraded the railroad.

Weekly initial and continuing claims will be reported at 8:30 ET.

The U.S. Treasury will hold a $13 billion 30-yr reopening.

06:28 am : [BRIEFING.COM] S&P futures vs fair value: +3.50. Nasdaq futures vs fair value: +6.00.

06:28 am : Nikkei...10652.64...+74.10...+0.70%. Hang Seng...23354.31...+135.80...+0.60%.

06:28 am : FTSE...6102.42...+3.70...+0.10%. DAX...7737.72...+17.30...+0.20%.

Special thanks to Bloomberg, CNNMoney, Reuters and Yahoo! Finance for their market summaries. gm

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Image@ http://twitter.com/wrbtrader Image@ http://stocktwits.com/wrbtrader

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