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 Post subject: May 7th Tuesday Trade Results - Profit $3620
PostPosted: Wed May 08, 2013 9:12 am 
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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)
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)

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050713-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+3620.00.png
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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 @ $3620.00 dollars or +36.20 points, Light Crude Oil CL ($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 @ $3620.00 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=1501

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 Closes Above 15,000

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

NEW YORK (CNNMoney)
It was another record-setting day on Wall Street. This time, the Dow closed above 15,000 for the first time ever, hitting 15,056.

Investors also pushed the S&P 500 to a new record. The broad index gained 0.5% to end at 1,625.96

* 20 biggest stock gainers

The stock euphoria didn't touch the Nasdaq. The tech-heavy index ticked up just 0.1% after wafting on either side of the breakeven line for much of the day.

Stocks have had a remarkable run this year, with all three indexes logging gains of 14% to 15% so far.

Corporate earnings dominate: Shares of DirecTV (DTV, Fortune 500) popped, after the company reported better-than-expected earnings.

Molson Coors Brewing (TAP), meanwhile, reported sales and profits that fell short of forecasts.

First Solar's (FSLR) stock plunged, after the company missed earnings estimates.

Tesla's (TSLA) stock dropped, after CEO Elon Musk said a self-driving Tesla car is still several years from production.

OfficeMax (OMX, Fortune 500) widely missed earnings forecasts and said revenue this year would come in below analysts' estimates. At the same time, the office supply company issued a special dividend of $1.50 a share.

Also, Walt Disney Company (DIS, Fortune 500) inked a deal with Electronic Arts (EA) to co-develop Star Wars video games. Reporting after the bell, Disney beat earnings and revenue estimates.

Shares of Whole Foods (WFM, Fortune 500) soared in aftermarket trading, after the supermarket store beat estimates.

Kraft spin-off Mondelez (MDLZ) didn't fare as well after hours. Its profits dipped, but shares still rose slightly.

European markets closed higher, driven by strong results from financial firms Societe Generale (SCGLF) and HSBC (HBC).

Asian markets ended higher. The Shanghai Composite increased 0.2% and the Hang Seng added 0.6%. The Nikkei rose 3.6% to close above the 14,000 point barrier as traders returned after a holiday.

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Market Update

4:15 pm : Equities settled with modest gains as the S&P 500 rose 0.5% to close at a new all-time high while the Dow notched its first close above 15,000.

Similar to yesterday, earnings shaped the early price action in the absence of notable economic data.

The energy sector charged out of the gate as EOG Resources (EOG 135.69, +9.65) displayed notable strength after beating on revenue. The growth-sensitive sector ended with a solid gain even as crude oil ended lower by 0.7% at $95.47.

Most other cyclical sectors finished ahead of the broader market and the Dow Jones Transportation Average outperformed as well. The bellwether complex advanced 1.6% to a fresh record high as 18 of 20 components settled in the black.

Interestingly, the technology space began the day in-line with the broader market before late morning weakness in large components caused the sector to slip into the red. Apple (AAPL 458.66, -2.05), Cisco (CSCO 20.38, -0.43), and Microsoft (MSFT 33.31, -0.44) all lost between 0.5% and 2.1%.

The technology sector also pressured the Nasdaq, which was unable to climb above its morning highs.

Today's underperformance of the Nasdaq was notable as the index had led stocks higher for more than two weeks. Entering today, the index gained 7.1% since April 19 while the S&P 500 added 4.9% over that time.

Also contributing to the Nasdaq weakness was biotechnology, which lagged after Perrigo (PRGO 116.29, -2.55) missed on earnings and revenue. The broader iShares Nasdaq Biotechnology ETF (IBB 174.52, -1.43) ended lower by 0.8%.

The underperformance of biotech names weighed on the health care sector, which settled with a gain of 0.3%. Meanwhile, other defensive sectors outperformed the broader market and the telecom space ended in the lead.

In the Treasury market, the 10-yr note sold off steadily throughout the day with its yield climbing two basis points to 1.783%.

Even though today's session ended on a positive note, the CBOE Volatility Index (VIX 12.91, +0.25) climbed suggesting a certain measure of downside protection was in demand.

Today's volume was below average as 636 million shares changed hands on the floor of the New York Stock Exchange.

Consumer credit increased by $8.0 billion in March. That was down from an upwardly revised $18.6 billion (from $18.1 billion) in February. The Briefing.com consensus expected consumer credit to increase by $16.3 billion.

That was the first time since September 2012 that consumer credit did not increase by at least $10.0 billion.

Tomorrow, the weekly MBA Mortgage Index will be reported at 7:00 ET.DJ30 +87.31 NASDAQ +3.66 SP500 +8.46 NASDAQ Adv/Vol/Dec 1541/1.65 bln/930 NYSE Adv/Vol/Dec 2307/636.6 mln/747

3:30 pm :

June crude oil fell for the first time in four sessions ahead of tomorrow's inventory data. The energy component advanced to a session high of $96.26 per barrel but quickly reversed and slid to a session low of $94.92 per barrel. Despite trending slightly higher for the remainder floor trade, it settled with a 0.5% loss at $95.62 per barrel.
June natural gas extended yesterday's losses as it pulled back from its session high of $4.00 per MMBtu set in morning floor trade. It continued to trend lower and settled with a 2.2% loss at its session low of $3.92 per MMBtu.
June gold spent its entire floor session in the red, falling as low as $1440.40 per ounce in morning action. The yellow metal fell despite early weakness in the dollar index. Unable to gain much momentum, it settled at $1449.00 per ounce, or 1.3% lower.
July silver also traded in negative territory today, but unlike gold, it was able to erase most of its earlier losses. It lifted off its session low of $23.40 per ounce set in morning floor trade and advanced to the unchanged line in afternoon action. It eventually settled 0.6% lower at $23.81 per ounce.

DJ30 +81.90 NASDAQ +2.26 SP500 +8.05 NASDAQ Adv/Vol/Dec 1519/1424.6 mln/1041 NYSE Adv/Vol/Dec 2208/433 mln/792

3:00 pm : The S&P 500 continues to hover near its best levels of the day as today's session enters its final hour.

According to the Federal Reserve, consumer credit increased by $8.0 billion in March. This follows the prior month's revised increase of $18.6 billion, and is lower than the $16.3 billion that had been broadly expected among economists polled by Briefing.com.DJ30 +82.74 NASDAQ +4.04 SP500 +8.25 NASDAQ Adv/Vol/Dec 1457/1.27 bln/1020 NYSE Adv/Vol/Dec 2204/397.1 mln/804

2:30 pm : Quiet afternoon trade continues with the Dow and S&P 500 both up 0.5%. Elsewhere, the Nasdaq is higher by 0.2% as the index attempts to climb above its opening highs.

With just 90 minutes left in today's session, only 350 million shares have changed hands on the floor of the New York Stock Exchange. Similar to yesterday, light intraday volume has created an expectation for a below-average final tally.

Interestingly, health care and technology have not followed the broader market to fresh afternoon highs. The health care sector has declined steadily off its highs while the tech space remains in the red.DJ30 +76.43 NASDAQ +5.24 SP500 +7.93 NASDAQ Adv/Vol/Dec 1460/1.15 bln/997 NYSE Adv/Vol/Dec 2145/359.3 mln/859

2:00 pm : Recent action saw the Dow and S&P 500 climb to fresh highs while the Nasdaq nears its best level of the day. Although afternoon trade has produced gains for the broader market, the technology sector remains in the red.

Notably, the health care sector has not participated in the afternoon rally while other defensively-geared sectors added to their earlier gains. The SPDR Health Care Select Sector ETF (XLV 47.43, +0.07) trades with a gain of 0.2%.DJ30 +77.52 NASDAQ +4.17 SP500 +8.03 NASDAQ Adv/Vol/Dec 1403/1.07 bln/1021 NYSE Adv/Vol/Dec 2090/332.9 mln/883

1:30 pm : The Dow and S&P 500 trade near their highs while the Nasdaq has climbed out of the red.

Although the Nasdaq was able to return into positive territory, the tech sector continues to trade in the red with the SPDR Technology Select Sector (XLK 31.32, -0.04) off by 0.1%. Similarly, biotechnology names remain pressured as the iShares Nasdaq Biotechnology ETF (IBB 175.10, -0.85) hovers near its lows.DJ30 +69.15 NASDAQ +1.48 SP500 +6.68 NASDAQ Adv/Vol/Dec 1371/997.5 mln/1047 NYSE Adv/Vol/Dec 2039/309.8 mln/927

1:05 pm : At midday, the S&P 500 trades near its best levels of the day while the Nasdaq is little changed.

Equities began the session on an upbeat note as earnings reaction shaped the early sentiment. Better-than-expected revenue from EOG Resources (EOG 136.05, +10.01) has supported the sector even as crude oil trades lower by 0.4% at $95.76.

Although the energy space was up as much as 1.1% at the open, it has since retraced a portion of those gains. Meanwhile, most other cyclical groups can also be found among the leaders.

The Dow Jones Transportation Average is higher by 1.3% as shipper Matson (MATX 25.84, +1.50) leads the index after beating on earnings. Transportation-related stocks have also provided support for the industrial sector, which trades with a gain of 0.8%.

While the Nasdaq displayed strength at the open, the index dipped into the red 45 minutes into the session as relative weakness in several large cap names pressured the broader tech sector. Apple (AAPL 458.19, -2.52), Oracle (ORCL 33.29, -0.22) and Microsoft (MSFT 33.37, -0.38) are all down between 0.5% and 1.1%.

The Nasdaq has also been pressured by the underperformance of biotechnology names after Perrigo (PRGO 114.04, -4.80) reported disappointing earnings and revenue. This, in turn, has weighed on the health care sector, which is the second-weakest performer of the day.

Today's lone economic data point will come in the form of March consumer credit, with the report set to be released at 15:00 ET.DJ30 +64.30 NASDAQ +2.92 SP500 +6.35 NASDAQ Adv/Vol/Dec 1378/913.1 mln/1029 NYSE Adv/Vol/Dec 2000/286.8 mln/937

12:30 pm : The major averages hover near their recent levels with the S&P 500 higher by 0.3%. Cyclical sectors displayed strength at the open, but most growth-sensitive groups have slipped from their highs.

The energy sector was an early leader after EOG Resources (EOG 136.23, +10.19) reported below-consensus earnings on better-than-expected revenue. Meanwhile, the broader SPDR Energy Select Sector ETF (XLE 80.51, +0.50) is higher by 0.6% after being up as much as 1.1% in early action.DJ30 +48.92 NASDAQ -1.58 SP500 +4.54 NASDAQ Adv/Vol/Dec 1293/827.2 mln/1094 NYSE Adv/Vol/Dec 1909/262.1 mln/1006

12:00 pm : The Dow and S&P 500 continue to trade with modest gains while the relative weakness of tech shares has kept the Nasdaq in the red.

In addition, biotechnology stocks have weighed on the Nasdaq as well as the health care sector. Perrigo (PRGO 114.10, -4.74) is down 4.0% after missing on earnings and revenue. Meanwhile, the broader iShares Nasdaq Biotechnology ETF (IBB 175.08, -0.87) is lower by 0.5%.

Elsewhere, the health care sector trades with a slim gain of just 0.2%.DJ30 +32.33 NASDAQ -4.37 SP500 +3.09 NASDAQ Adv/Vol/Dec 1228/735.9 mln/1144 NYSE Adv/Vol/Dec 1807/234.8 mln/1099

11:30 am : The major averages continue to trade near their recent levels. The S&P 500 is higher by 0.2% while the tech-heavy Nasdaq remains in the red.

Today's underperformance of tech shares comes after the Nasdaq led stocks higher over the course of the past two weeks. Entering today, the index gained 7.1% since April 19 while the S&P 500 has added 4.9% in the same timeframe.

On the upside, the industrial sector has been supported by transportation-related stocks as the Dow Jones Transportation Average trades higher by 1.2%.DJ30 +42.77 NASDAQ -1.47 SP500 +3.85 NASDAQ Adv/Vol/Dec 1280/657.6 mln/1077 NYSE Adv/Vol/Dec 1843/213.4 mln/1032

11:00 am : Recent action saw the major averages slip from their highs. While the Dow and S&P 500 continue to trade with modest gains, the Nasdaq is off by 0.2%.

The tech sector is the lone decliner as the SPDR Technology Select Sector ETF (XLK 31.27, -0.09) trades lower by 0.3%. Most large components are among the laggards with Apple (AAPL 456.75, -3.96), Google (GOOG 855.90, -5.65), and Microsoft (MSFT 33.46, -0.28) all down between 0.7% and 0.9%.

Chipmakers have also displayed relative weakness as the PHLX Semiconductor Index trades lower by 0.2%.DJ30 +36.41 NASDAQ -5.77 SP500 +2.57 NASDAQ Adv/Vol/Dec 1235/552.1 mln/1091 NYSE Adv/Vol/Dec 1784/184.1 mln/1054

10:35 am : The dollar index just rallied in recent action, adding pressure on commodities. Natural gas futures remain below $4.00/MMBtu and are currently -1.5% at $3.95/MMBtu. Crude oil sold off in recent action, but is now inching higher. July crude is currently -0.6% at $95.58/barrel.

Precious metals are in the red this morning, but have been recovering in recent trade. June gold is now -1.4% at $1448.00/oz, while July silver is -1.1% at $23.69/oz. July copper is -0.6% at $3.29/lb.DJ30 +32.24 NASDAQ -3.75 SP500 +2.65 NASDAQ Adv/Vol/Dec 1320/513.6 mln/1184 NYSE Adv/Vol/Dec 1797/167 mln/1014

10:00 am : The major averages continue to hover near their highs with the S&P 500 up 0.3%.

The energy sector is a clear outperformer as the SPDR Energy Select Sector ETF (XLE 80.91, +0.90) trades higher by 1.1%. The growth-sensitive sector has shown notable strength after several components reported earnings. Notably, EOG Resources (EOG 136.60, +10.56) is jumping 8.5% after beating on revenue.DJ30 +40.08 NASDAQ +7.58 SP500 +5.35 NASDAQ Adv/Vol/Dec 1402/234.2 mln/794 NYSE Adv/Vol/Dec 1974/101.9 mln/772

09:45 am : The S&P 500 trades higher by 0.3% after the major averages began the session on a positive note.

The health care sector is the only group trading in the red. Meanwhile, other defensive groups also (with the exception of utilties) trail behind the broader market.

Also of note, the technology sector is flat after outperforming notably over the course of last week. The sector is among the early laggards even as its largest component, Apple (AAPL 462.16, +1.45), trades higher by 0.4%.DJ30 +35.27 NASDAQ +6.53 SP500 +5.12 NASDAQ Adv/Vol/Dec 1288/155.1 mln/873 NYSE Adv/Vol/Dec 1906/80.5 mln/785

09:15 am : [BRIEFING.COM] S&P futures vs fair value: +3.20. Nasdaq futures vs fair value: +2.70. With 15 minutes to go before the start of today's session, equity futures continue to hover near their pre-market highs. The S&P 500 futures trade with a gain of 0.2%.

Pre-market action focused on quarterly earnings with today's sole economic data point (March consumer credit) set to be released at 15:00 ET.

In earnings of note, Fossil (FOSL 104.51, +5.55) is higher by 5.6% following its better-than-expected report. However, the company lowered its second quarter and full-year earnings guidance below consensus.

Elsewhere, First Solar (FSLR 46.65, -1.04) is off by 2.2% after reporting below-consensus earnings on better-than-expected revenue. In addition, the company reaffirmed its full-year earnings and revenue guidance.

09:00 am : [BRIEFING.COM] S&P futures vs fair value: +2.20. Nasdaq futures vs fair value: +0.50. U.S. equity futures trade with modest gains amid generally positive overseas trade where Germany's DAX leads key European indices higher after the country's factory orders surprised to the upside.

Domestically, with no economic data of note, investors are reacting to quarterly earnings. Notably, Fossil (FOSL 103.50, +4.54) is higher by 4.6% following its better-than-expected earnings report. However, the company lowered its second quarter and full-year earnings guidance below consensus.

Elsewhere, DIRECTV (DTV 60.00, +2.04) adds 3.5% after beating on earnings.

In other corporate news of note, Baxter (BAX 67.92, -2.39) is down 3.4% after its Phase III study of immunoglobulin did not yield the desired trial results.

Today's lone economic data point will come in the form of March consumer credit with the report set to be released at 15:00 ET.

The U.S. Treasury will auction $32 billion in 3-yr notes.

08:32 am : [BRIEFING.COM] S&P futures vs fair value: +3.30. Nasdaq futures vs fair value: +2.20.

U.S. equity futures continue to hover near their highs with the S&P 500 futures up 0.2%.

The major Asian bourses ended mostly higher with Japan's Nikkei surging 3.6% as traders returned from a four-day weekend. Today's gains ran the Nikkei above the 14,000 level, and to its best close since June 2008. Overnight, the Reserve Bank of Australia surprised markets by cutting its key rate 25 basis points to a record low 2.75%. Meanwhile, data from the region showed Australia's trade balance ($0.31 billion actual v. $0.20 billion expected, -$0.11 billion previous) swung to a surplus for the first time since December 2011 while its Home Price Index slipped 0.1% quarter-over-quarter (+1.9% expected). Elsewhere, the Philippines' inflation rate eased to 2.6% year-over-year (2.85% expected, 3.2% previous) and Taiwan's trade surplus narrowed to TWD65.4 billion (TWD92.5 billion previous).

Japan's Nikkei jumped 3.6%, gaining for the first time in four days. Exporters posted strong gains even as the yen weakened while traders were on holiday. Sony Corp and Tokyo Electron were among the leaders, posting advances of 6.4% and 6.8% respectively. Elsewhere, real estate names were strong, but underperformed as Mitsui Fudosan rallied 2.5% and Sumitomo Realty & Development jumped 3.0%.
Hong Kong's Hang Seng rose 0.6% to end at a two-month high. Blue chips were in favor as PetroChina and Citic Pacific both tacked on at least 2.5%. Meanwhile, banking giant HSBC gained for a ninth straight session as shares added 0.2% ahead of the release of its quarterly results.
In China, the Shanghai Composite added 0.2% as stocks rallied for a third straight session. Property stocks led the way as China Vanke posted a 2.3% advance. Elsewhere, spirit makers were strong with Kweichow Moutai climbing 5.6% as traders stepped in to buy the beaten down name.

Key European indices trade broadly higher with Germany's DAX up 0.9% after the country reported a 2.2% month-over-month rise in its factory orders (-0.5% consensus). In other economic data from the region, France reported a 0.9% month-over-month decline in industrial production (-0.3% forecast) while the government reported a budget deficit of EUR31 billion (-EUR28 billion expected). Also of note, Switzerland saw its unemployment rate hold steady at 3.1%, as expected.

Looking at news, German Finance Minister Wolfgang Schaeuble said that institutional change needs to occur for banking union to become a viable option. Elsewhere, European Commissioner Olli Rehn said it is too soon to determine whether or not Slovenia is in need of a bailout.

The United Kingdom's FTSE is higher by 0.4% with financials and miners leading. Barclays and Eurasian Natural Resources trade with respective gains of 3.7% and 5.0%.
France's CAC adds 0.6% as bank shares outperform. BNP Paribas is higher by 2.5% and Societe Generale is surging 6.9% after beating on earnings. On the downside, machinery producer Alstom is down 9.0% following its disappointing quarterly report as well as cautious forward guidance.
In Germany, the DAX is up 0.9% as most components trade in positive territory. HeidelbergCement is firmer by 5.3% following today's better-than-expected factory orders.
Italy's MIB is higher by 1.4% with financials in the lead. Banco Popolare and Unione di Banche Italiane are both up near 7.0%. Also of note, Italian 10-yr yield is down six basis points to 3.75%, its lowest since October 2010.

08:00 am : [BRIEFING.COM] S&P futures vs fair value: +3.20. Nasdaq futures vs fair value: +2.20.

U.S. equity futures trade modestly higher amid generally positive overseas trade. The S&P 500 futures are higher by 0.2%.

Looking at overnight developments:

Asian markets ended on a higher note. Japan's Nikkei jumped 3.6% in its first session since Thursday while China's Shanghai Composite added 0.2% and Hong Kong's Hang Seng rose 0.6%.
In regional economic news:
The Reserve Bank of Australia cut its key interest rate 25 basis points to 2.75%. In addition, the country reported a trade surplus of AUD0.31 billion (AUD0.20 billion expected). Lastly, the House Price Index slipped 0.1% quarter-over-quarter (+2.0% expected).
Looking at news:
In Japan, traders returned after the Nikkei was closed for two days. Today's session saw just about every stock register gains as steelmakers led the way.
Japan's Prime Minister Shinzo Abe is expected to prepare a growth strategy plan by the middle of next month.

Key European indices trade higher across the board with Germany's DAX leading the way, up 0.9%. Elsewhere, the United Kingdom's FTSE is higher by 0.4% while France's CAC trades with a gain of 0.6%. On the periphery, Italy's MIB is higher by 1.5% and Spain's IBEX is up 0.9%.
Regional economic data was limited:
Germany's factory orders rose 2.2% month-over-month (-0.5% consensus).
In France, industrial production declined 0.9% month-over-month (-0.3% forecast) while the government reported a budget deficit of EUR31 billion (-EUR28 billion expected).
Swiss unemployment rate held steady at 3.1%, as expected.
Looking at news:
German Finance Minister Wolfgang Schaeuble said that institutional change needs to occur for banking union to become a viable option.

European Commissioner Olli Rehn said it is too soon to determine whether or not Slovenia is in need of a bailout.

In U.S. corporate news:

First Solar (FSLR 47.40, -0.29) is off by 0.6% after reporting below-consensus earnings on better-than-expected revenue. In addition, the company reaffirmed its full-year earnings and revenue guidance.
Fossil (FOSL 105.00, +6.04) is higher by 6.1% following its better-than-expected earnings report. However, the company lowered its second quarter and full-year earnings guidance below consensus.
OfficeMax (OMX 11.95, +0.21) is adding 1.8% despite missing on earnings and revenue. Also of note, the company announced a special dividend of $1.50 per share, payable on July 2 to shareholders of record as of June 12.

Today's economic data will be limited to the 15:00 ET release of March consumer credit.

The U.S. Treasury will auction $32 billion in 3-yr notes.

07:01 am : [BRIEFING.COM] S&P futures vs fair value: +2.50. Nasdaq futures vs fair value: +3.50.

07:01 am : Nikkei...14180.24...+486.20...+3.60%. Hang Seng...23047.09...+132.00...+0.60%.

07:01 am : FTSE...6546.86...+25.40...+0.40%. DAX...8181.33...+69.30...+0.90%.

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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