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 Post subject: April 24th Wednesday Trade Results - Profit $1340
PostPosted: Thu Apr 25, 2013 9:21 am 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
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)
Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
questions@thestrategylab.com (24/7)
http://twitter.com/wrbtrader (24/7)

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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 @ $1340.00 dollars or +13.40 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points, EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks and Emini ES ($ES_F) futures @ $0.00 dollars or +0.00 points. Total Profit @ $1340.00 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
Gold GC Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ CMEGroup
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 about each one of my trades via price action trading from entry to exit (e.g. time, price, contract size) 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=116&t=1490

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=207&t=1794

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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, EuroFX 6E futures, Gold GC futures, Light Crude Oil (WTI) CL & Brent Oil futures, Eurex DAX futures, Euronext FTSE100 futures, Emini ES futures, Emini TF futures, Treasury ZB futures and U.S. Dollar Index futures) while using WRB Analysis from one trade to the next trade to give me the market context for price action trading 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.

Stocks End Mostly Lower

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

NEW YORK (CNNMoney)
U.S. stocks ended mixed Wednesday, after investors parsed through a mixed bag of earnings and a weak economic report.

It was a relatively calm day of trading, one day after an erroneous tweet briefly wreaked havoc on markets.

The Dow Jones Industrial Average lost 0.3%, while the Nasdaq and the S&P 500 were near neutral. Stocks drifted around the breakeven line for most of the day.

Early in the day, investors were spooked by a report on durable goods orders that showed orders fell by 5.7% in March -- much worse than analysts had predicted.

Related: High speed trading fueled Twitter crash

Another batch of mediocre earnings also gave investors pause.

The two Dow components AT&T (T, Fortune 500) and Procter & Gamble (PG, Fortune 500) got bludgeoned, closing down 5% and 6%. AT&T's sales came up short, while Procter & Gamble cut its guidance.

Apple (AAPL, Fortune 500) added to the downward pressure. It beat expectations and announced it would raise its quarterly dividend and boost its stock buyback program. But the company still struggled with lower profits on the iPhone and iMac.

There were a few bright spots among the corporate earnings. Boeing (BA, Fortune 500) was the biggest gainer on the Dow, after it reported an increase in profits, even as revenue was dinged by its grounded Dreamliners.

Ford (F, Fortune 500) reported a jump in earnings, helped by sales in North America.

Shares of Yum Brands (YUM, Fortune 500) jumped more than 7% after the fast-food restaurant operator reported earnings that topped Wall Street's low expectations.

First Solar (FSLR) was the biggest gainer on the S&P 500. Shares hit a new 52-week high, pulling other solar stocks higher. Shares of SolarCity (SCTY), SunPower (SPWR) and Canadian Solar (CSIQ) all logged solid gains.

European markets closed higher, supported by continuing talk of an ECB rate cut following weak eurozone data. The Ifo German business climate index for April was weaker than expected.

Asian markets ended higher, with Japan's Nikkei adding 2.3%. Hong Kong's Hang Seng added 1.7% and the Shanghai Composite increased 1.6%.

The dollar rose against the euro and the British pound but fell against the Japanese yen.

Oil and gold prices jumped.

The yield on the 10-year Treasury hovered around 1.70%.

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Market Update

4:10 pm : Equities settled with strong gains as the S&P 500 climbed 1.0%.

Although stocks ended near their highs, an afternoon headline from a hacked Twitter account of the Associated Press suggested two explosions occurred at the White House, sending the S&P lower by 15 points and back to its flat line before returning to session highs. The entire episode unfolded within the matter of five minutes.

Overseas developments primed U.S. equities for an upbeat start to the session. Although economic data from the old continent was largely disappointing, commentary from the region overshadowed the data.

Manufacturing and Services PMI reports from France and Germany came in below 50, a level which indicates contraction. This fueled speculation about a possible European Central Bank rate cut at its upcoming policy meeting. In addition, European Commission President Jose Manuel Barroso was quoted as saying the policy of austerity "has reached its limits."

The talk of further monetary easing combined with Mr. Barroso's comments buoyed European indices, and contributed to an upbeat start to the U.S. session.

Financials and technology led today's advance with bank stocks outperforming notably. The SPDR Financial Select Sector ETF (XLF 18.42, +0.32) settled higher by 1.8% after Discover Financial Services (DFS 44.34, +0.73) and Dow component Travelers (TRV 86.35, +1.77) reported better-than-expected earnings.

Elsewhere, the tech space saw broad gains and Netflix (NFLX 216.99, +42.62) surged 24.4% following its bottom-line beat. Chipmakers also rallied on the back of above-consensus quarterly results from ARM Holdings (ARMH 46.32, +6.08) and Texas Instruments (TXN 35.70, +0.89). Meanwhile, the broader PHLX Semiconductor Index advanced 2.1%. Also of note, the largest tech stock, Apple (AAPL 406.13, +7.46), gained 1.9% ahead of its quarterly report, which will be released this evening.

The discretionary space was another group which displayed considerable strength thanks to retailers and homebuilders. Coach (COH 55.55, +4.96) jumped 9.8% after beating on earnings while the SPDR S&P Retail ETF (XRT 71.56, +0.84) climbed 1.2%.

Also of note, the SPDR S&P Homebuilders ETF (XHB 29.65, +0.74) rose 2.6% after five builders were upgraded at Barclays. In addition, today's economic data contributed to the sector outperformance.

New home sales increased 1.7% in March to 417,000. There was no revision to the February report, which indicated 411,000 new homes were sold. That March number is still down from the recent January peak when 445,000 homes were sold. The Briefing.com consensus expected sales to increase to 415,000.

Inventory levels inched higher, rising from 150,000 in February to 153,000 in March. That represents a 4.4-month supply and is still well below levels considered normal. Like existing homes, new home inventories should trend around a 6.0-month supply when the industry is in good shape.

Tomorrow, the weekly MBA Mortgage Index will be reported at 7:00 ET while March durable orders and durable orders ex-transportation will be announced at 8:30 ET. On the earnings front, Boeing (BA 88.18, +1.24) and Ford Motor (F 13.36, +0.30) will shed light on their first quarter results before the opening bell.

The U.S. Treasury will auction off $35 billion in 5-yr notes.DJ30 +152.29 NASDAQ +35.78 SP500 +16.28 NASDAQ Adv/Vol/Dec 1898/1.63 bln/563 NYSE Adv/Vol/Dec 2424/683.7 mln/607

3:30 pm :

June crude oil erased most of its earlier losses as it lifted off its session low of $88.00 per barrel and trended higher for most of today's floor trade. The energy component touched a session high of $89.30 per barrel in afternoon pit action and eventually settled at $89.16 per barrel, or just 0.1% lower.
May natural gas rose to a session high of $4.32 per MMBtu in late morning action but lost momentum in late afternoon floor trade. It gave up all of its gains and settled 0.5% lower at $4.24 per MMBtu.
June gold traded lower today but held above $1400 per ounce as a stronger dollar pressured prices. The yellow component retreated from its session high of $1423.10 per ounce set at pit trade open and dipped as low as $1404.00 per ounce. It settled at $1409.20 per ounce, booking a loss of 0.9%.
May silver also traded in negative territory during today's floor trade. It pulled-back from its session high of $23.02 per ounce and touched a session low of $22.69 per ounce in morning pit action. It eventually settled 2.3% lower at $22.80 per ounce

DJ30 +147.97 NASDAQ +35.00 SP500 +15.59 NASDAQ Adv/Vol/Dec 1769/1384.1 mln/675 NYSE Adv/Vol/Dec 2368/487 mln/656

3:00 pm : The S&P 500 is higher by 0.9% as today's action enters the final hour. Although the broader market followed the early afternoon 'flash crash' with a return to session highs, recent action saw equities surrender some of their gains.

Following today's close, investors will turn their attention to quarterly earnings. Apple (AAPL 405.45, +6.78), AT&T (T 38.88, +0.15), and YUM! Brands (YUM 63.54, -1.73) are among the notable names scheduled to report their results after the close.

Tomorrow morning, Boeing (BA 87.95, +1.01) and Ford Motor (F 13.35, +0.29) will shed light on their first quarter results before the opening bell.DJ30 +126.13 NASDAQ +30.10 SP500 +13.38 NASDAQ Adv/Vol/Dec 1738/1.25 bln/700 NYSE Adv/Vol/Dec 2301/445.1 mln/704

2:30 pm : Recent action saw the major averages surrender a portion of their intraday gains. The S&P 500 is higher by 0.7% as financials and technology remain in the lead.

Notably, the Nasdaq outperformed the S&P 500 during the first half of action, but the tech-heavy index has declined since, and it now trades largely in-line with the broader market. Meanwhile, the largest tech component, Apple (AAPL 405.11, +6.44), is higher by 1.6% ahead of its quarterly report, scheduled to be released after the closing bell.DJ30 +106.94 NASDAQ +22.92 SP500 +10.68 NASDAQ Adv/Vol/Dec 1706/1.16 bln/725 NYSE Adv/Vol/Dec 2230/415.2 mln/757

2:00 pm : The major averages continue to hover near their best levels of the day with the S&P 500 higher by 1.0%.

Excluding the brief plunge, which followed a bogus report from the hacked Twitter account of the Associated Press, afternoon action has been very quiet. All ten sectors continue to trade with gains as financials and technology remain in the lead.

With equities near their highs, the CBOE Volatility Index (VIX 13.84, -0.55) is near its lows after the fake AP report caused the near-term volatility measure to spike to 14.87.DJ30 +129.90 NASDAQ +34.80 SP500 +15.00 NASDAQ Adv/Vol/Dec 1780/1.08 bln/647 NYSE Adv/Vol/Dec 2346/385.8 mln/645

1:30 pm : Recent action saw the major averages surrender all of their intraday gains before returning to their session highs.

The rapid decline occurred after the Associated Press Twitter account was hacked and false reports of an explosion at the White House surfaced on the site. The Associated Press has since acknowledged the security breach and the White House has issued a statement saying "the president is fine."DJ30 +124.95 NASDAQ +34.84 SP500 +14.85 NASDAQ Adv/Vol/Dec 1785/1.01 bln/649 NYSE Adv/Vol/Dec 2349/361.7 mln/622

1:00 pm : At midday, the major averages are near their best levels of the session. The S&P 500 is firmer by 1.0% while the Nasdaq trades with a gain of 1.2%.

Although equities trade broadly higher, the first-half advance has taken place despite disappointing global economic data.

In China, the HSBC Manufacturing PMI fell to 50.5 from 51.6 with the export index dipping to 48.6. This is notable as readings below 50 are indicative of contraction in activity.

Elsewhere, French Manufacturing and Services PMI readings ticked higher while Germany saw its readings decline. More importantly, both remained below 50, which fueled speculation about a possible European Central Bank rate cut at its upcoming policy meeting. In addition, European Commission President Jose Manuel Barroso has been quoted as saying the policy of austerity "has reached its limits."

The talk of further monetary easing combined with Mr. Barroso's comments buoyed European indices and contributed to an upbeat start to the U.S. session.

Equities have climbed steadily with cyclical groups leading the way. Financials and technology are the clear leaders as both sectors trade with gains of at least 1.5%.

The financial sector is higher by 1.8% after Discover Financial Services (DFS 44.41, +0.80) and Dow component Travelers (TRV 86.64, +2.06) beat on earnings. In addition, Bank of America (BAC 12.14, +0.41) has announced the buyback of 20,000 shares.

The tech space is another beneficiary of better-than-expected earnings after ARM Holdings (ARMH 45.68, +5.44), Texas Instruments (TXN 35.66, +0.85), and Netflix (NFLX 217.10, +42.73) surprised to the upside. The reports also lifted chipmakers as the PHLX Semiconductor Index trades with a gain of 2.0%.

Discretionary stocks have also shown notable strength. Above-consensus earnings from Coach (COH 56.10, +5.51) have acted in support of the retail space and homebuilders are broadly higher after five names were upgraded at Barclays.

Today's economic data focused on housing. New home sales increased 1.7% in March to 417,000. There was no revision to the February report, which indicated 411,000 new homes were sold. That March number is still down from the recent January peak when 445,000 homes were sold. The Briefing.com consensus expected sales to increase to 415,000.

Inventory levels inched higher, rising from 150,000 in February to 153,000 in March. That represents a 4.4-month supply and is still well below levels considered normal. Like existing homes, new home inventories should trend around a 6.0-month supply when the industry is in good shape.DJ30 +136.77 NASDAQ +38.00 SP500 +15.47 NASDAQ Adv/Vol/Dec 1820/847.4 mln/607 NYSE Adv/Vol/Dec 2424/298.8 mln/551

12:30 pm : Equities continue to hover near their highs with the S&P 500 up 1.1%.

While financials and technology have led the bulk of today's advance, the discretionary sector can also be found among the notable advancers. Retailers have shown broad strength after Coach (COH 56.40, +5.81) beat on earnings. Meanwhile, the broader SPDR S&P Retailers ETF (XRT 71.56, +0.84) is higher by 1.2%.

The discretionary space is also being supported by homebuilders after March new home sales exceeded expectations. In addition, a Barclays upgrade of five major names has added a measure of support. The SPDR S&P Homebuilders ETF (XHB 29.64, +0.73) is adding 2.5%.DJ30 +147.87 NASDAQ +41.55 SP500 +16.75 NASDAQ Adv/Vol/Dec 1825/764.4 mln/589 NYSE Adv/Vol/Dec 2446/272.2 mln/515

12:00 pm : Little change has been observed in recent trade as the S&P 500 continues to trade higher by 1.0%. Meanwhile, the Nasdaq is rising 1.2% as technology stocks rebound from recent weakness.

The Nasdaq is being supported by better-than-expected earnings from ARM Holdings (ARMH 45.23, +4.99), Texas Instruments (TXN 35.86, +1.05), and Netflix (NFLX 216.19, +41.82).

In addition, the largest index component, Apple (AAPL 405.34, +6.67) is higher by 1.6% with the company scheduled to report its earnings after the close.DJ30 +149.94 NASDAQ +39.97 SP500 +16.13 NASDAQ Adv/Vol/Dec 1829/681.1 mln/564 NYSE Adv/Vol/Dec 2460/248.9 mln/494

11:30 am : The major averages continue to hover near their highs with the S&P 500 firmer by 1.0%. Although equities are trading broadly higher, the utilities sector has not taken part in today's rally. The SPDR Utilities Select Sector ETF (XLU 40.72, +0.04) trades with a gain of 0.1%.

Elsewhere, other defensive groups also trail behind the broader market. Telecoms are little changed as AT&T (T 38.85, +0.12) trades higher by 0.3% with its quarterly report set to be released after today's closing bell.

Consumer staples and health care are the top performing defensive groups as both sectors trade with a gain of 0.6%.DJ30 +141.30 NASDAQ +37.72 SP500 +15.75 NASDAQ Adv/Vol/Dec 1815/589.3 mln/560 NYSE Adv/Vol/Dec 2433/221.2 mln/501

11:00 am : The S&P 500 is higher by 0.9% with financials and technology pacing today's advance.

The financial sector is higher by 1.5% after Discover Financial Services (DFS 44.15, +0.54) and Dow component Travelers (TRV 86.86, +2.28) beat on earnings. In addition, Bank of America (BAC 12.09, +0.37) has announced the buyback of 20,000 of its shares.

Elsewhere, technology stocks are broadly higher with chipmakers showing strength after ARM Holdings (ARMH 44.26, +4.02) beat on earnings and revenue. Meanwhile, the broader PHLX Semiconductor Index is rising 1.3%.DJ30 +132.09 NASDAQ +33.92 SP500 +13.55 NASDAQ Adv/Vol/Dec 1772/465.9 mln/558 NYSE Adv/Vol/Dec 2359/183.9 mln/532

10:30 am : Commodities are mostly lower this morning, largely on strength in the dollar. May crude oil fell as low as $87.85 in overnight activity, but it's now back near its HoD. However, the energy component is still in the red.

Natural gas found some buying interest earlier this morning, pushing nat gas up to a new session high minutes ago. May crude oil is now -0.89% at $88.50/barrel. May natural gas is +0.85 at $4.30/MMBtu.

Precious metals are in the red this morning along with copper. June gold is now -0.9% at $1408.10/oz, while May silver is -2.3% at $22.79/oz. May copper is -0.7% at $3.11/lb.is -0.7% at $3.11/lb.DJ30 +135.33 NASDAQ +32.48 SP500 +13.99 NASDAQ Adv/Vol/Dec 1782/362.1 mln/497 NYSE Adv/Vol/Dec 2340/151 mln/518

10:05 am : The major averages continue to hover near their highs with the S&P 500 firmer by 0.8%.

New home sales in March hit an annualized rate of 417,000, which was up from February's rate of 411,000, and better than the rate of 415,000 that had been broadly expected by the Briefing.com consensus. The SPDR S&P Homebuilders ETF (XHB 29.68, +0.77) ticked up to fresh highs in reaction to the data.DJ30 +128.63 NASDAQ +32.96 SP500 +12.33 NASDAQ Adv/Vol/Dec 1736/221.2 mln/453 NYSE Adv/Vol/Dec 2313/102.8 mln/484

09:45 am : Equities began the session on an upbeat note. The S&P 500 is higher by 0.7% with all ten sectors trading in positive territory.

The discretionary space is among the early leaders with retailers showing considerable strength after Coach (COH 56.34, +5.75) beat on earnings. Meanwhile, the broader SPDR S&P Retail ETF (XRT 71.62, +0.90) is higher by 1.3%.

Financials have also shown notable strength out of the gate. Bank of America (BAC 11.99, +0.27) is higher by 2.3% after disclosing the buyback of 20,000 shares on April 18.

New home sales for the month of March will be reported in 15 minutes.DJ30 +110.82 NASDAQ +25.47 SP500 +11.35 NASDAQ Adv/Vol/Dec 1709/138.1 mln/431 NYSE Adv/Vol/Dec 2305/76.3 mln/437

09:16 am : [BRIEFING.COM] S&P futures vs fair value: +5.20. Nasdaq futures vs fair value: +10.00. Heading into the open, equity futures signal a higher start to the session. The S&P 500 futures are higher by 0.4% while Nasdaq futures trade with a gain of 0.6%.

The upbeat pre-market sentiment follows mixed overseas trade. In Asia, equity indices declined after China's HSBC Manufacturing PMI fell to 50.5 from 51.6. Although the reading remained in expansion territory, the export index declined to 48.6, suggesting lower foreign demand for Chinese goods. In Europe, markets are broadly higher after the latest round of disappointing PMI readings fueled talks of a possible rate cut at the European Central Bank's upcoming policy meeting.

Domestically, investors are responding to numerous quarterly reports. Most notably, Netflix (NFLX 216.00, +41.63) is soaring 23.9% after beating on earnings. On the downside, United Technologies (UTX 93.00, -0.63) is off by 0.7% after missing on earnings and revenue.

The U.S. Treasury will auction off $35 billion in 2-yr notes.

09:02 am : [BRIEFING.COM] S&P futures vs fair value: +4.60. Nasdaq futures vs fair value: +9.20. The S&P 500 futures are higher by 0.4% as they continue to hover near their best pre-market levels.

February Housing Price Index from the FHFA increased by 0.7%, which follows a 0.6% increase observed during the prior month.

08:30 am : S&P futures vs fair value: +6.80. Nasdaq futures vs fair value: +12.70.

U.S. equity futures have climbed to fresh pre-market highs with the S&P 500 futures up 0.5%.

It was a sea of red across Asia as nearly all major indices ended in negative territory. China's Shanghai Composite led the region lower with a loss of 2.6% after the country's flash reading of the April HSBC Manufacturing PMI fell to 50.5 (51.6 prior, 51.4 consensus). The export index, which fell to 48.6, was the most concerning part of the report as it suggested slowing demand for Chinese goods.

In Japan, the Nikkei closed -0.3% as the stronger yen weighed. Oki Electric surged 20.5% after Nikkei news suggested the company's operating profit has doubled. Construction names showed relative strength as Kajima and Shimizu both gained near 5.0%.
In Hong Kong, the Hang Seng finished -1.1% as most components ended in the red. Cyclical names underperformed as Belle International Holdings and China Shenhua Energy lost 4.1% and 3.1%, respectively.
In China, the Shanghai Composite ended -2.6% as industrial names weighed. Anhui Fangxing Science & Technology, First Tractor, and Wuxi Huaguang Boiler all lost between 7.3% and 9.4%.

European indices trade higher across the board after disappointing PMI readings from France and Germany fueled talks of a possible rate cut at the European Central Bank's next policy meeting. French business survey declined to 88 from the prior month's 91 (90 consensus). Additionally, French Manufacturing PMI rose to 44.4 from the prior reading of 44.0 (44.3 consensus) while the Services PMI climbed to 44.1 from 41.3 (42.0 forecast). Germany's Manufacturing PMI fell to 47.9 from 49.0 (49.0 consensus) while the Services PMI declined to 49.2 from 50.9 (51.0 expected). Eurozone Manufacturing PMI slipped to 46.5 from 46.8 (46.8 expected) while the Services PMI rose to 46.6 from 46.4 (46.6 consensus). Italian consumer confidence rose to 86.3 from 85.3 (85.1 expected). The United Kingdom's CBI Industrial Trends Orders came in at -25 to follow the prior reading of -15 (-14 forecast).

In news, European Commission President Jose Manuel Barroso has been quoted as saying the policy of austerity "has reached its limits."

In the United Kingdom, the FTSE is higher by 1.3%. Chipmaker ARM Holdings is surging 10.6% after the company reported better-than-expected earnings. Meanwhile, miners remain under pressure. Fresnillo and Randgold Resources are down 2.7% and 1.2%, respectively.
Germany's DAX trades with a gain of 1.6% as industrials lead. Deutsche Lufthansa is higher by 2.5% and HeidelbergCement is rising 2.8%.
France's CAC is firmer by 2.6% with 38 of 40 components advancing. Financials are among the outperformers with BNP Paribas and Societe Generale both up near 5.0%.

08:00 am : S&P futures vs fair value: +3.20. Nasdaq futures vs fair value: +7.50.

U.S. equity futures trade slightly higher amid upbeat overseas trade. The S&P 500 futures are higher by 0.3%.

Looking at overnight developments:

Asian markets finished on a lower note. Japan's Nikkei shed 0.3%, Hong Kong's Hang Seng lost 1.1%, and China's Shanghai Composite fell 2.6%.
Regional economic data was limited:
China's HSBC flash Manufacturing PMI reading for April fell to 50.50 from the prior month's reading of 51.60 (51.40 consensus).
In news:
The Chinese PMI fell short of expectations as the export index declined to 48.6. This is notable as readings below 50 are indicative of contraction in activity.
Reports indicate Japanese Prime Minister Shinzo Abe is expected to propose an increase to the minimum wage.

European indices trade higher across the board. Germany's DAX is higher by 1.4%, the United Kingdom's FTSE is firmer by 1.1%, and France's CAC is adding 2.4%.
European economic data was plentiful:
French business survey declined to 88 from the prior month's 91 (90 consensus). Additionally, French Manufacturing PMI rose to 44.4 from the prior reading of 44.0 (44.3 consensus) while the Services PMI climbed to 44.1 from 41.3 (42.0 forecast).
Germany's Manufacturing PMI fell to 47.9 from 49.0 (49.0 consensus) while the Services PMI declined to 49.2 from 50.9 (51.0 expected).
Eurozone Manufacturing PMI slipped to 46.5 from 46.8 (46.8 expected) while the Services PMI rose to 46.6 from 46.4 (46.6 consensus).
Italian consumer confidence rose to 86.3 from 85.3 (85.1 expected).
The United Kingdom's CBI Industrial Trends Orders came in at -25 to follow the prior reading of -15 (-14 forecast).
Looking at news:
The disappointing PMI readings from France and Germany have added to the expectations the European Central Bank will cut rates at its upcoming policy meeting.
European Commission President Jose Manuel Barroso has been quoted as saying the policy of austerity "has reached its limits."

In U.S. corporate news:

Coach (COH 57.01, +6.42) is jumping 12.7% after beating on earnings. In addition, the apparel company raised its quarterly dividend to $0.3375 per share from $0.30.
Netflix (NFLX 214.50, +40.13) is surging 23.0% after beating on earnings.

February FHFA Housing Price Index and March new home sales will be reported at 9:00 ET and 10:00 ET, respectively.

The U.S. Treasury will auction off $35 billion in 2-yr notes.

06:39 am : [BRIEFING.COM] S&P futures vs fair value: -2.50. Nasdaq futures vs fair value: -5.50.

06:39 am : Nikkei...13529.65...-38.70...-0.30%. Hang Seng...21806.61...-237.80...-1.10%.

06:39 am : FTSE...6328.19...+47.60...+0.80%. DAX...7517.68...+39.60...+0.50%.

06:32 am : [BRIEFING.COM] S&P futures vs fair value: +1553.50. Nasdaq futures vs fair value: +2797.50.

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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