TheStrategyLab.com Price Action Trading Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
It is currently Fri Mar 29, 2024 5:16 am

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: May 3rd Friday Trade Results - Profit $5770
PostPosted: Fri May 03, 2013 10:54 pm 
Offline
Site Admin

Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
Image

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
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
questions@thestrategylab.com (24/7)
http://twitter.com/wrbtrader (24/7)

Attachment:
050313-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+5770.00.png
050313-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+5770.00.png [ 83.51 KiB | Viewed 310 times ]

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $4500.00 dollars or +45.00 points, Light Crude Oil CL ($CL_F) futures @ $1270.00 dollars or +1.27 points, Gold GC ($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 @ $5770.00 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=117&t=1499

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=209&t=1820

-----------------------------

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.

Dow Tops 15,000 On Jobs Report

Attachment:
050313-Key-Price-Action-Markets.png
050313-Key-Price-Action-Markets.png [ 504.7 KiB | Viewed 275 times ]

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

NEW YORK (CNNMoney)
Investors cheered the latest report on the U.S. job market Friday, pushing the Dow Jones industrial average briefly above 15,000 for the first time.

The Dow rose 0.9% to end the day at 14,972. The S&P 500 gained 1%, rising above 1,600 for the first time. The Nasdaq gained 1.1% to end at the highest level since November 2000.

"The round numbers are psychologically important, especially for those cautious investors sitting with their cash on the sidelines," said Jack Ablin, chief investment officer at BMO Private Bank.

Stocks could continue moving higher as individual investors who missed the rally of the past few years have been drawn back in as stocks hit new highs.

There's also a lack of alternatives for investors who hope to earn more than the meager rate on U.S. Treasuries. (See: Waiting for the bond bubble to pop)

"I'll call it a momentum effect," said Ablin.

Click here for more on stocks, bonds, currencies and commodities

The rally caps a solid week: The Dow rose 1.8%; the S&P gained 2% and the Nasdaq added 3%. April was another strong month, with the S&P 500 advancing for the sixth consecutive month.

Friday's gains came on the back of positive jobs data. The U.S. economy added 165,000 jobs in April, according to the government's latest report. The unemployment rate dipped to 7.5% from the prior month's rate of 7.6%.

Both numbers were better than expected, easing concerns about a summer slowdown in the economy. But the unemployment rate is still well above the level at which the Federal Reserve has said it will ease its stimulus program.

"Good numbers all around, but still shy of where they need to be to drive the economy forward or get the Fed to consider lowering its 'buying' number in the coming months," said Kevin Giddis, head of fixed-income at Raymond James.

The jobs data, which came after a string of disappointing reports this week, overshadowed other less encouraging economic data released Friday.

Factory orders fell 0.4% in March, according to the Census Bureau. The report was worse than expected and came after a 1.9% drop in February. The Institute for Supply Management said its index of activity in the services sector fell in April, but remained above the level indicating growth.

What's moving: LinkedIn (LNKD) shares plunged after the professional-networking site offered weak second-quarter guidance.

AIG (AIG, Fortune 500) shares rose after the insurer reported earnings that beat expectations Thursday.

Shares of 3D Systems (DDD) rose after office supplies retailer Staples (SPLS, Fortune 500) announced plans to sell the company's 3-D printer.

Yahoo (YHOO, Fortune 500) shares rose to a five-year high on renewed optimism over the Internet pioneer's turnaround plan.

Warren Buffett's investment firm Berkshire Hathaway (BRKA, Fortune 500) is scheduled to release quarterly earnings after the market close.

European markets rose despite a grim economic forecast from the European Union.

The EU trimmed its forecast for the eurozone gross domestic product, to a decline of 0.4% in 2013. The forecast for 2014 was also trimmed, to a gain of 1.2%.

Asian markets ended higher. The Shanghai Composite added 1.4% and the Hang Seng increased 0.1%. Japan's Nikkei was closed for a holiday.

Image


Market Update

4:05 pm : The major averages registered strong gains as the April jobs report boosted stocks at the open. The S&P 500 jumped 1.0% and notched a fresh record close at 1,614.40 while the Dow added 0.9% after peeking above 15,000 in morning action.

On the surface, the employment report for April looked good. Payroll growth surprised to the upside, increasing by 165,000. That was 10,000 more than the 155,000 expected by the Briefing.com consensus. Revisions in March, to 138,000 from 88,000, and February, to 332,000 from 268,000, were strongly positive.

Yet, the underlying details point toward weaker consumption levels as the average workweek dropped to 34.4 hours in April from 34.6 and average hourly earnings increased 0.2%.

The decline in workweek more than offset the increase in payrolls and earnings. Altogether, aggregate wages declined 0.3% in April. That would be the first decline in wages since January.

Cyclical sectors led stocks higher and two recent underperformers, industrials and materials, finished atop the leaderboard.

The industrial space displayed all-around strength, but transportation-related stocks outperformed notably. The Dow Jones Transportation Average ended higher by 2.1% as 18 of 20 components registered gains. Although the index traded ahead of the broader market, it remains 1.0% away from its all-time best.

Elsewhere, the materials sector benefitted from a notable rise in basic metals. Copper made its biggest advance in more than a year by surging 6.5% to $3.306. Steelmakers also contributed to the outperformance of the growth-sensitive sector as the Market Vectors Steel ETF (SLX 42.59, +1.19) gained 2.9%. Meanwhile, the SPDR Materials Select Sector ETF (XLB 39.82, +0.69) ended higher by 1.8%.

The energy space also outperformed as crude oil extended its recent strength and rose 1.6% to $95.47. Since April 17, the energy component has added almost $10.

While most cyclical groups registered gains in excess of 1.0%, the financial sector underperformed. JPMorgan Chase (JPM 47.57, -0.51) slipped 1.1% after the New York Times gained access to confidential government documents alleging the bank engaged in 'manipulative schemes' in the energy market and that its executives gave 'misleading statements' while testifying under oath.

In notable sector earnings, American International Group (AIG 44.52, +2.39) added 5.7% after reporting a bottom-line beat.

Although the April jobs report received most of today's attention, some noteworthy quarterly reports crossed the wires as well. LinkedIn (LNKD 175.59, -26.08) slumped 12.9% after its better-than-expected earnings report included cautious full-year revenue guidance.

On the downside, the defensively-geared telecom and utilities sectors ended with respective losses of 0.2% and 0.4%.

Reviewing today's remaining data, the ISM Non-manufacturing Index declined from 54.4 in March to 53.1 in April. The Briefing.com consensus expected the index to fall to 54.0.

Total factory orders fell 4.0% in March after increasing a downwardly revised 1.9% (from 3.0%) in February. The Briefing.com consensus expected factory orders to fall 2.5%.

Durable goods orders fell 5.8% (from a previously released -5.7%) after increasing 4.3% in March.

There is no notable economic news set to be released on Monday. On Tuesday, March consumer credit will be announced at 15:00 ET.

Week in Review: Technology Leads Stocks Higher

Monday proved to be a one-sided affair as equities climbed throughout the session. As a result, the S&P 500 settled higher by 0.7% while the Nasdaq rose 0.9%. The Nasdaq displayed relative strength from the onset as technology stocks paced today's advance. Major sector components Apple (AAPL 449.98, +4.46), Google (GOOG 845.72, +16.11), and Microsoft (MSFT 33.49, +0.33) all settled with gains of at least 2.5%.

On Tuesday, stocks ended the session on a modestly higher note as the Nasdaq rose 0.7% while the S&P 500 added 0.3%. The Dow Jones Industrial Average, for its part, tacked on 0.1%. The major averages spent the day climbing off their lows after it was revealed that manufacturing activity in the Chicago region in April contracted for the first time since September 2009, falling from 52.4 in March to 49.0. The Briefing.com consensus expected the Chicago PMI to decline to 52.0. Technology stocks paced the late-morning rebound as the sector displayed strength amid reports indicating Apple's $17 billion debt offering received significant investor interest.

Stocks ended Wednesday's session on their lows as global growth concerns reemerged. The three major indices all lost 0.9%, but the underperformance of small cap stocks was notable as the Russell 2000 slid 2.5%. China reminded investors of its importance to the global economy as the decline in the country's Manufacturing PMI (50.6 actual, 50.9 prior, 51.0 consensus) along with a disappointing U.S. ISM Index (50.7 actual, 51.3 prior, 51.0 consensus) pressured commodities and commodity-related sectors. The materials space declined throughout the day as related metals sold off.

Thursday saw the S&P 500 erase all of Wednesday's losses. The benchmark average rose 0.9% while the Nasdaq outperformed with a gain of 1.3%. In addition to earnings reaction, investors welcomed further easing from the European Central Bank as the ECB cut its key interest rate by 25 basis points to a record low of 0.50%. Visa (V 179.54, +4.14) jumped 5.7% after beating on earnings and revenue.DJ30 +142.38 NASDAQ +38.01 SP500 +16.83 NASDAQ Adv/Vol/Dec 1830/1.69 bln/649 NYSE Adv/Vol/Dec 2199/715.1 mln/809

3:30 pm : Commodities didn't do much in afternoon activity. Energy held their gains, gold remains near the unchanged mark and silver held modest gains. Lastly, copper futures held notable gains of near 6.5%.

Late in the day here, June crude oil move back up near its session high, but couldn't break through it. At the end of today's session, June crude was Natural gas futures inched higher in afternoon activity, finishing one cent higher.

Precious metals ended today's session mixed. June gold lost $3 to end at $1464.50/oz, while July silver gained 0.18% to $24.02/oz. May copper was the big winner with 6.8% in gains, closing at $3.31/lb.DJ30 +147.56 NASDAQ +40.27 SP500 +17.31 NASDAQ Adv/Vol/Dec 1897/1475.5 mln/661 NYSE Adv/Vol/Dec 2203/481 mln/780

3:00 pm : Equities have surrendered a slight portion of their gains but the three major averages continue to trade higher by at least 1.0%.

Looking at currencies, EURUSD is higher by 45 pips at 1.3110 after the day's low (1.3035) and high (1.3160) came within two hours of today's jobs report. First buyers emerged as trade neared the 1.3000 support level, then it was the sellers' turn to flex their muscles as trade neared the 100-day moving average (1.3160). Action for the past month has held within a 200 pip range between 1.3000 and 1.3200 so breakouts in either direction will be watched closely.

Elsewhere, USDJPY is up 120 pips near 99.10 as trade climbs back towards the April highs. The 100 level remains in focus, and a print above that area will mark a fresh four-year high.

Meanwhile, the Dollar Index holds little changed at 82.12 amid quiet afternoon trade.DJ30 +142.42 NASDAQ +38.43 SP500 +16.76 NASDAQ Adv/Vol/Dec 1837/1.29 bln/628 NYSE Adv/Vol/Dec 2197/433.4 mln/778

2:30 pm : Equities remain near session highs as all three major averages trade with gains of at least 1.0%. Small caps, meanwhile, have outperformed the broader market. The Russell 2000 is higher by 1.8%.

As the first-quarter rally unfolded, market observers kept close watch over the performance of the Dow Jones Transportation Average. Today, the bellwether complex trades higher by 2.3%. Although the 20-stock index has shown significant strength today, it remains 1.0% away from its all-time highs set on March 19.DJ30 +153.21 NASDAQ +41.87 SP500 +18.11 NASDAQ Adv/Vol/Dec 1856/1.21 bln/628 NYSE Adv/Vol/Dec 2231/403.5 mln/740

2:00 pm : Quiet afternoon trade continues as the major averages hover within a shouting distance of their highs. The S&P 500 is higher by 1.1%

Although the broader market hasn't shown much change during recent action, JPMorgan Chase (JPM 46.99, -1.09) has slid to fresh lows on significant volume. Shares of the financial giant have trailed behind the broader market throughout the day after the New York Times gained access to confidential documents alleging JPMorgan Chase engaged in "manipulative schemes" in the energy market and that its executives gave "misleading statements" while testifying under oath.DJ30 +146.77 NASDAQ +40.44 SP500 +17.40 NASDAQ Adv/Vol/Dec 1874/1.13 bln/588 NYSE Adv/Vol/Dec 2264/374.7 mln/713

1:35 pm : The major averages continue to hover near their highs with the S&P 500 up 1.1%. Since 10:30 ET, the benchmark average has hovered inside of a two point range. Similarly, the Dow and Nasdaq remain near their best levels of the day.

While recent action saw equities maintain their ranges, continued selling across the Treasury complex has pushed the 10-yr yield higher by 12 basis point to 1.744%.

Today's sharp advance in equities has caused the CBOE Volatility Index (VIX 12.81, -0.78) to slide to its lowest level since April 15.DJ30 +157.12 NASDAQ +42.97 SP500 +18.56 NASDAQ Adv/Vol/Dec 1866/1.06 bln/580 NYSE Adv/Vol/Dec 2282/349.1 mln/682

1:00 pm : The major averages hover near their best levels of the day with the S&P 500 higher by 1.2%. The benchmark index surged past the 1,600 mark while the Dow crossed above 15,000 at the start of today's session after April nonfarm payrolls surpassed expectations.

On the surface, the employment report for April looked good. Payroll growth surprised to the upside, increasing by 165,000. That was 10,000 more than the 155,000 expected by the Briefing.com consensus. Revisions in March, to 138,000 from 88,000, and February, to 332,000 from 268,000, were strongly positive.

Yet, the underlying details point toward weaker consumption levels as the average workweek dropped to 34.4 hours in April from 34.6 and average hourly earnings increased 0.2%.

The decline in workweek more than offset the increase in payrolls and earnings. Altogether, aggregate wages declined 0.3% in April. That would be the first decline in wages since January.

Equities welcomed the report with cyclical sectors leading the market higher.

Industrials and materials are the top performing sectors as both groups register gains near 2.0%.

The industrial sector has received a boost from transportation-related stocks. With all 20 components advancing, the Dow Jones Transportation Average trades higher by 2.5%.

Elsewhere, a rebound in base metals has provided support for the materials space. Copper futures are up 6.7% at $3.312 per pound as today's advance marks the largest one-day gain for the red metal since October 2011.

Notably, the financial sector has retreated off its highs as JPMorgan Chase (JPM 47.84, -0.24) trades in the red. The bank is down 0.5% after the New York Times gained access to confidential documents alleging JPMorgan Chase engaged in "manipulative schemes" and that its executives gave "misleading statements" while testifying under oath.

Other banks trade with solid gains and the SPDR Financials Select Sector ETF (XLF 18.90, +0.25) is higher by 1.3%.

Today's economic news has overshadowed most quarterly reports. However, LinkedIn (LNKD 181.23, -20.45) is down 10.1% after guiding its full-year revenue below consensus.

Reviewing today's remaining data, the ISM Non-manufacturing Index declined from 54.4 in March to 53.1 in April. The Briefing.com consensus expected the index to fall to 54.0.

Total factory orders fell 4.0% in March after increasing a downwardly revised 1.9% (from 3.0%) in February. The Briefing.com consensus expected factory orders to fall 2.5%.

Durable goods orders fell 5.8% (from a previously released -5.7%) after increasing 4.3% in March.DJ30 +167.32 NASDAQ +44.86 SP500 +19.61 NASDAQ Adv/Vol/Dec 1908/965.5 mln/535 NYSE Adv/Vol/Dec 2297/318.1 mln/653

12:30 pm : Recent action saw equities continue to hold their levels. The S&P 500 is higher by 1.2% as the benchmark average hovers just two points below its session highs.

Industrials and materials displayed notable strength out of the gate and the two sectors remain in the lead. Both groups trade higher by 2.0% with transportation-related stocks supporting industrials.

Meanwhile the materials sector has received a boost from significant gains in copper. The red metal is higher by 6.3% at $3.299 per pound. Notably, today's advance is the largest one-day gain for the metal since October 2011.DJ30 +157.09 NASDAQ +44.97 SP500 +19.04 NASDAQ Adv/Vol/Dec 1914/897.1 mln/515 NYSE Adv/Vol/Dec 2299/294.9 mln/653

12:00 pm : Equity indices continue to trade with firm gains as industrials and materials remain atop the leaderboard.

Notably, the financial sector has retreated off its highs as JPMorgan Chase (JPM 47.64, -0.44) trades in the red. The bank trades lower by 0.9% after the New York Times gained access to confidential documents alleging JPMorgan Chase engaged in "manipulative schemes" and that its executives gave "misleading statements" while testifying under oath.

Other banks trade with solid gains and the SPDR Financials Select Sector ETF (XLF 18.86, +0.21) is higher by 1.1%.DJ30 +152.21 NASDAQ +43.74 SP500 +18.35 NASDAQ Adv/Vol/Dec 1904/815.9 mln/501 NYSE Adv/Vol/Dec 2286/269.3 mln/641

11:30 am : Equities continue to hold near their recent levels with the S&P 500 higher by 1.2%. Today's April nonfarm payrolls report (+165K actual, +155K Briefing.com consensus) provided the opening boost, which sent the S&P 500 past 1,600 for the first time ever. Similarly, the Dow jumped above 15,000 to notch fresh all-time highs of its own.

All ten sectors traded with firm gains in the early going. However, recent action saw utilities and telecom slip into the red. In addition, today's top performing groups, industrials and materials, have taken a step back from their session highs.

In the Treasury market, the 10-yr note has been offered since the jobs report crossed the wires at 8:30 ET. As a result, the 10-yr yield is higher by 10 basis points at 1.729%.DJ30 +155.13 NASDAQ +44.77 SP500 +18.94 NASDAQ Adv/Vol/Dec 1926/731.1 mln/489 NYSE Adv/Vol/Dec 2288/244.6 mln/617

11:00 am : The major averages continue to hover near their highs with the S&P 500 up 1.3%. The bulk of today's gains followed the April jobs report, which surprised to the upside.

Industrials and materials are the top performing sectors with both groups up more than 2.0%. Transportation-related stocks have boosted the industrial space as the Dow Jones Transportation Average trades higher by 2.6%.

Meanwhile, the materials sector has been supported by basic metal prices. Notably, copper is higher by 6.1% at $3.294. The SPDR Materials Select Sector ETF (XLB 39.96, +0.83) is firmer by 2.1%.DJ30 +175.17 NASDAQ +44.45 SP500 +20.18 NASDAQ Adv/Vol/Dec 1926/606.9 mln/459 NYSE Adv/Vol/Dec 2311/207.9 mln/581

10:30 am : Commodities are mostly higher this morning, while the dollar index is in the red. Copper futures have been the notable mover this morning with July copper now up 5.6%.

Crude oil futures were lower overnight, but found buying interest in early morning trade. June crude rallied ahead of the open of floor trading, rising as high as $95.66. Crude is now +1.7% at $95.61/barrel. Natural gas futures have been volatile this morning, spending a portion of the day below the $4/MMBtu level. June nat gas is currently -0.4% at $4.01/MMBtu.

Gold and silver sold off earlier following the jobs numbers, but have since recovered with silver hitting a new session high in recent trade. June gold is now +0.3% at $1471.40/oz, while July silver is +1.7% at $24.23/oz. July copper is now +5.6% at $3.28/lb.DJ30 +173.53 NASDAQ +45.04 SP500 +20.36 NASDAQ Adv/Vol/Dec 2025/479.8 mln/520 NYSE Adv/Vol/Dec 2343/163 mln/506

10:05 am : The major averages continue to hover near their highs with the S&P 500 up 1.0%.

March factory orders declined 4.0%, which was worse than the 2.5% decrease expected by the Briefing.com consensus. Today's downtick follows last month's revised increase of 1.9%.

The April ISM Services Index was reported at 53.1, below the 54.0 forecast by the Briefing.com consensus, and down from the March reading of 54.4.DJ30 +133.21 NASDAQ +38.68 SP500 +15.57 NASDAQ Adv/Vol/Dec 1888/304.3 mln/399 NYSE Adv/Vol/Dec 2276/118.5 mln/513

09:45 am : The S&P 500 trades higher by 1.1% as today's sharply higher open followed the April jobs report, which indicated 165,000 jobs were added in April (155,000 Briefing.com consensus). Meanwhile, nonfarm private payrolls rose by 176,000 and the unemployment rate ticked down to 7.5% from 7.6%.

All ten sectors trade in positive territory in the early going with cyclical groups in the lead. Energy, financials, and industrials are the top three performers as all three sectors trade with gains between 1.4% and 1.8%.

In notable earnings reaction, American International Group (AIG 44.00, +1.87) trades higher by 4.4% after reporting a bottom-line beat.

March factory orders and the April ISM Services Index will be reported in 15 minutes.DJ30 +157.34 NASDAQ +39.53 SP500 +18.04 NASDAQ Adv/Vol/Dec 1872/189.1 mln/343 NYSE Adv/Vol/Dec 2321/84.7 mln/433

09:15 am : [BRIEFING.COM] S&P futures vs fair value: +11.70. Nasdaq futures vs fair value: +19.00. Heading into the open, equity futures signal a sharply higher start to the cash session. The S&P 500 futures are higher by 0.8% with the S&P poised to make its first-ever appearance above the 1600 mark.

The significant pre-market gains followed the upbeat nonfarm payrolls report, which indicated 165,000 jobs were added in April (155,000 Briefing.com consensus). In addition, nonfarm private payrolls added 176,000 against the 166,000 consensus. The unemployment rate declined to 7.5% from 7.6%.

More economic data remains on today's calendar with March factory orders and the April ISM Services Index both set to be released at 10:00 ET.

Among corporate earnings of note, LinkedIn (LNKD 183.80, -17.87) is lower by 8.9% after its above-consensus results were coupled with disappointing full-year revenue guidance.

Elsewhere, American International Group (AIG 43.71, +1.58) is higher by 3.8% after beating on the bottom line.

09:01 am : [BRIEFING.COM] S&P futures vs fair value: +11.70. Nasdaq futures vs fair value: +19.00.

U.S. equity futures continue to hover near their highs after April nonfarm payrolls surprised to the upside. The S&P 500 futures are higher by 0.8%.

The major Asian bourses ended mixed with China's Shanghai Composite (+1.4%) among the leaders after the European Central Bank cut its key rate 25 basis points to a record low 0.50%. The Philippines' PSEi (+1.7%) was the top performer after the country's credit rating was upgraded to investment grade at S&P. Elsewhere, India's Sensex (-0.8%) saw some profit-taking after the Reserve Bank of India cut its key rate 25 basis points to 7.25%, as expected. Japan's Nikkei was closed for Constitution Day. Data from the region saw China's Non-Manufacturing PMI slip to 54.5 (55.6 previous) and Australia's PPI post a hotter than expected 0.3% quarter-over-quarter (0.2% expected).

In Japan, the Nikkei was closed.
Hong Kong's Hang Seng added 0.1% as trade stalled at the 100-day moving average. New World Development ended up 3.3% on reports the company was looking to spin-off three of its hotels in a Hong Kong listing.
In China, the Shanghai Composite settled higher by 1.4% as brokers led the way on more potential easing of regulations. Citic Securities and Haitong Securities were among the leaders, posting advances of 3.0% and 4.0% respectively.

Key European indices trade with modest gains after investors received just a handful of economic reports. The United Kingdom's Services PMI climbed to 52.9 from 52.4 (52.4 consensus). Eurozone PPI slipped 0.2% month-over-month, in-line with expectations. Also of note, the Spanish government reported a budget surplus of EUR6.50 billion (EUR0.30 billion expected).

In news, European Central Bank Governing Council member Ewald Nowotny said Mario Draghi's comments about the ECB being 'technically ready' for negative deposit rates had been over-interpreted. Mr. Nowotny also said there are no concrete plans for such cuts at this time.

In France, the CAC is higher by 0.5% with Vallourec in the lead. The industrial company trades higher by 11.7% after beating on earnings.
Germany's DAX is adding 0.7% as consumer names outperform. Adidas is surging 6.4% after beating on earnings and Continental is firmer by 5.6% after issuing upbeat guidance.
In the United Kingdom, the FTSE is rising 0.7% with miners in the lead. Eurasian Natural Resources and Glencore Xstrata trade with respective gains of 7.5% and 5.1%.

08:34 am : [BRIEFING.COM] S&P futures vs fair value: +8.50. Nasdaq futures vs fair value: +14.00. Equity futures surged to their pre-market highs in reaction to better-than-expected jobs data. The S&P 500 futures are higher by 0.6%

April nonfarm payrolls came in at 165K versus the 155K expected by the Briefing.com consensus. The prior reading was revised up to 138K from 88K. Nonfarm private payrolls added 176K against the 166K consensus. The unemployment rate was reported at 7.5%, better than the Briefing.com consensus which expected the rate to remain unchanged at 7.6%.

Hourly earnings ticked up 0.2%, in-line with the Briefing.com consensus. Average workweek was reported at 34.4, which was below the 34.6 expected by the Briefing.com consensus.

08:00 am : S&P futures vs fair value: -2.20. Nasdaq futures vs fair value: -2.50.

U.S. equity futures are little changed amid mixed overseas trade. However, some volatility is expected around 8:30 ET when the Bureau of Labor Statistics reports on April nonfarm payrolls. The Briefing.com consensus expects the report to reveal the addition of 155,000 jobs.

Looking at overnight developments:

Asian markets ended on a mixed note. China's Shanghai Composite climbed 1.5%, Hong Kong's Hang Seng added 0.1% while Japan's Nikkei shed 0.8%.
Regional economic data was limited:
China's Non-Manufacturing PMI declined to 54.5 from 55.6.
Australia's PPI rose 0.3% quarter-over-quarter while the consensus expected an uptick of 0.2%.
In news:
In China, the People's Daily stressed the importance of restraining the use of the Local Government Financing Vehicle. This comes amid continued concerns about local government debt levels.

Key European indices trade with slim gains. France's CAC is higher by 0.1%, Germany's DAX is up 0.2%, and the United Kingdom's FTSE trades with a gain of 0.3%.
Economic data out of Europe was light as well:
The United Kingdom's Services PMI climbed to 52.9 from 52.4 (52.4 consensus).
The Eurozone PPI slipped 0.2% month-over-month, in-line with expectations.
The Spanish government reported a budget surplus of EUR6.50 billion (EUR0.30 billion expected).
Looking at news:
European Central Bank Governing Council member Ewald Nowotny said Mario Draghi's comments about the ECB being 'technically ready' for negative deposit rates had been over-interpreted. Mr. Nowotny also said there are no concrete plans for such cuts at this time.

In U.S. corporate news:

American International Group (AIG 43.30, +1.17) is higher by 2.8% after beating on earnings.
Regeneron Pharmaceuticals (REGN 260.00, +11.37) trades with a gain of 2.8% after its earnings and revenue beat analyst expectations.
LinkedIn (LNKD 182.98, -18.69) is lower by 9.3% after guiding its full-year revenue below consensus.
Blue Nile (NILE 32.00, -0.73) is off by 2.2% following its earnings report. The diamond retailer beat on earnings and guided its full-year earnings and revenue in-line with analyst expectations.
OpenTable (OPEN 56.70, -0.96) is slipping 2.0% after reporting revenue on the lower end of estimates.
Moody's (MCO 60.61, +0.06) is little changed after beating on earnings.

In addition to the previously mentioned nonfarm payrolls, nonfarm private payrolls, the unemployment rate, hourly earnings, and average workweek will all be reported at 8:30 ET. Also of note, March factory orders and April ISM Services Index will be released at 10:00 ET.

07:21 am : [BRIEFING.COM] S&P futures vs fair value: -2.00. Nasdaq futures vs fair value: -3.50.

07:21 am : Nikkei...Holiday......... Hang Seng...22689.96...+21.70...+0.10%.

07:21 am : FTSE...6474.31...+13.60...+0.20%. DAX...7957.97...+14.30...+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

http://www.thestrategylab.com
Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
questions@thestrategylab.com
Go Back To TheStrategyLab.com Homepage


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ] 

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 3 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Translated by Xaphos © 2007, 2008, 2009 phpBB.fr