TheStrategyLab.com Free 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
It is currently Sun Dec 17, 2017 4:46 am

All times are UTC - 5 hours




Post new topic Reply to topic Bookmark and Share  [ 1 post ] 
Author Message
 Post subject: September 11th Friday 2009 Emini ES ($ES_F) points +3.75
PostPosted: Fri Sep 11, 2009 7:05 pm 
Offline
Site Admin

Joined: Sat Jan 10, 2009 1:06 pm
Posts: 3022
Location: Canada
Image

Today's trades that were posted in real-time in #FuturesTrades chat room via my IRC user name wrbtrader. You can review each trade from entry to exit along with commentary and an occasional trading tip because its all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=61&t=300

One of the main reasons why I've endure +20 years of trading in the markets is because I've learned not to consumed by my work. Simply, I don't sit in front of the monitor all day looking for trades to prevent over analysis and prevent burnout which can lead to poor trade decisions.

However, today that back fired when I needed to do some personal stuff and I decided to go do errands resulting in missing the best price action of the trading day from 1100am - 1240pm est (see #FuturesTrades trade log at above link).

Best trade of the day for me in Emini ES ($ES_F) futures was the last trade around 1552pm est via the APAOR strategies @ http://www.thestrategylab.com/AdvancePriceActionOnly.htm

FYI - You can ask me questions here at the forum or you can tweet me on twitter about anything related to today's trading or related to your own trading.

Image@ http://twitter.com/wrbtrader

In addition, posted below are direct links about my trade methodology or trading approach that enables me to identify key trading areas in the price action that represent changes in supply/demand along with being able to exploit the changes in supply/demand.


http://www.thestrategylab.com/WRBAnalysisTutorials.htm

http://www.thestrategylab.com/TradeStrategies.htm

Also, I strongly believe that profitable trading involves more than just trade signals and that's why most traders fail because they put all their interest in trade signals while ignoring the impact of their trading habits/routine or personal lifestyle. If you don't understand this perspective...please ask questions here at the forum for more info or you can tweet me on twitter @wrbtrader.

My Trading Performance: +3.75 Emini ES ($ES_F) points

Attachment:
091109wrbtraderPnLBlotterProfit.png
091109wrbtraderPnLBlotterProfit.png [ 32.84 KiB | Viewed 523 times ]

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

Stocks Slip After 5-Day Advance
Wall Street retreats as energy prices drop and investors show fatigue after a run that put the Dow, S&P and Nasdaq at 2009 highs.
By Alexandra Twin, CNNMoney.com senior writer
Last Updated: September 11, 2009: 6:24 PM ET

NEW YORK (CNNMoney.com) -- Stocks slipped Friday, as falling oil prices dragged on the influential commodities sector and investors took a step back after pushing the major indexes to 11-month highs in the previous session.

The Dow Jones industrial average (INDU) lost 21 points, or 0.2%. The S&P 500 (SPX) index lost 1 point, or 0.1%. Both the Dow and S&P 500 ended the previous session at their highest points since Oct. 6.

The Nasdaq composite (COMP) fell 3 points, or 0.2%, after ending the previous session at its highest point since Sept. 26.

The three major indexes rose for the week.

Stocks managed slim gains through midday as investors welcomed FedEx's upbeat profit forecast and a jump in consumer sentiment, but the gains were shaky on the heels of a five-session advance.

On Thursday, stocks rallied as a well-received debt auction and Procter & Gamble's improved forecast added to recovery hopes.

The weak dollar, higher commodity prices and investor fears of missing out on a rally have all contributed to the rally's most recent leg. However, this week's advance has been fueled by light trading volume, suggesting investors are reluctant to commit.

Investors have also been pulling money out of stocks and funds and putting it into cash or bonds. Tracker Trim Tabs said equity mutual funds and ETFs are on track to post the first monthly outflows since March.

Since bottoming March 9 at a more than 12-year low, the S&P 500 has risen 54% as investors have gone from pricing in a depression to a recession to a recovery.

The pace of the advance, combined with the seasonal tendency for September and October to be weak for stocks, led many to predict a fall selloff. But that hasn't happened and doesn't seem to be brewing as of yet.

The CBOE Volatility index, the VIX, Wall Street's fear gauge, closed Friday at the lowest point since Sept. 8 of last year. Typically, the VIX moves inversely to the direction of stocks.

Tuesday marks the first anniversary of the collapse of Lehman Brothers, an event seen as exacerbating the recession and pushing the economy into crisis mode.

Ahead of that, President Obama will speak Monday about the steps his administration has taken to "bring the economy back from the brink" and make sure a collapse at that level doesn't happen again.

Oil prices and stocks: Dollar-traded commodity prices have been rising on the weak greenback and on bets of a global economic recovery. But oil prices reversed course Friday, despite the still-weak dollar, dragging oil stocks down in tandem.

U.S. light crude oil for October delivery fell $2.65 to settle at $69.29 a barrel on the New York Mercantile Exchange.

That battered Dow components Exxon Mobil (XOM, Fortune 500) and Chevron (CVX, Fortune 500).

However, stock declines were broad based, with 21 of 30 Dow issues falling. In addition to the oil components, other big losers included IBM (IBM, Fortune 500), Hewlett-Packard (HPQ, Fortune 500) and Procter & Gamble (PG, Fortune 500).

FedEx: The package delivery firm, often seen as a proxy for the economy, lifted its fiscal first- and second-quarter earnings forecasts due to cost cutting and stronger international shipments.

FedEx said it expects to earn 58 cents per share in the first quarter versus its earlier forecast for a profit of 44 cents per share. The company expects to earn between 65 cents and 95 cents per share in the second quarter versus its earlier prediction of 70 cents.

FedEx (FDX, Fortune 500) shares gained 6.4%.

Consumers feeling better: The University of Michigan's initial reading on consumer sentiment rose to 70.2 in September from 65.7 in late August. That topped the 67.5 reading economists surveyed by Briefing.com were expecting and is the highest reading since June.

"The improvement reflects the fact that stocks have risen more than 50% since March, home prices are stabilizing and the economy is starting to recover," said John Canally, economist at LPL Financial.

But for sentiment to make more substantial gains, investors will need to see a recovery in the labor market, Canally said.

"The last piece of the puzzle will come in when people have confidence that they are going to have a job," he said. "That's going to help boost consumer spending."

The report showed that only 16% of consumers said their finances had improved, the smallest percentage on record since the university first asked the question in 1946. Only 25% of consumers said they expected income gains over the next year.

Economy: In other economic news, the Commerce Department reported that wholesale inventories fell 1.4% in July after falling a revised 2.1% in June. Economists surveyed by Briefing.com thought inventories would fall by 1%. It was the 11th consecutive month investors dropped.

Additionally, the Bureau of Labor Statistics said August import prices rose 2% versus forecasts for a rise of 1%. Import prices excluding oil rose 0.4% after falling 0.2% in July. Export prices rose 0.7%.

The August Treasury budget was released in the afternoon. The deficit grew by $111.4 billion in August versus forecasts for a deficit of $139.5 billion. The deficit for the first 11 months of the fiscal year stood at $1.38 trillion.

Currency: The dollar continued its slide against other major currencies, falling to multi-month lows versus the euro and the Japanese yen.

Gold: COMEX gold for December delivery rose $9.60 to settle at a record $1,006.40 an ounce, after topping the key $1,000 level during the day for the past three sessions.

Bonds: Treasury prices rose, lowering the yield on the benchmark 10-year note to 3.31% from 3.35% late Thursday. Treasury saw strong demand for its auction of $32 billion in long-term bonds earlier this week.

World markets: Global markets were mostly higher, with many indexes hitting 11-month highs. In Europe, London's FTSE 100, France's CAC 40 and Germany's DAX all gained. Asian markets ended higher, with the exception of the Japanese Nikkei.

Market breadth was mixed. On the New York Stock Exchange, winners beat losers eight to seven on volume of 1.29 billion shares. On the Nasdaq, decliners topped advancers three to two on volume of 2.34 billion shares.

In other news, the New York Stock Exchange commemorated the 8th anniversary of the 9/11 terrorist attacks on New York and Washington D.C. at the ringing of the opening bell and closing bell.

Image

Yahoo! Finance

4:30 pm : Though stocks slipped for their first time in six sessions to finish the week in unimpressive fashion, stocks were still able to log their best weekly gain since July by advancing 2.6% in this holiday-shortened week of trade.

Stocks initially looked as if they would extend recent gains as they made their way to new intraday highs for 2009, but the largely listless trade in the early going made for choppy trade, which then invoked moderate selling pressure.

An upbeat forecast from global shipment company FedEx (FDX 77.32, +4.66) did provide support for the industrial sector, which finished 0.4% higher as the best performing major sector, but its impact on the broader market was rather limited. Upbeat forecasts from Campbell Soup (CPB 33.13, +0.01) and National Semiconductor (NSM 15.03, -0.94) also did little to lift the mood of participants in the broader market.

Several pieces of data were out this session, starting with the Import Price Index for August. According to the report, last month's import prices were down a steeper-than-expected 2.0% month-over-month. Meanwhile, wholesale inventories for July fell 1.4%, which was a bit worse than had been expected. The University of Michigan released a stronger-than-expected preliminary consumer sentiment survey for September that came in at 70.2. However, the report is not well correlated with consumer spending, so it did little to support shares of retailers, which underperformed for the entire session and finished 0.8% lower.

Last on the day's economic calendar was the Treasury's August budget, which showed a smaller-than-expected $111.4 billion deficit. Stocks didn't show much of a reaction to the data, but Treasuries eventually came under pressure after the report's release. The benchmark 10-year Note had been performing well for the entire session and even made its way to its best levels since mid-July, but it finished the session flat.

Gold was one of the strongest standouts this session. The yellow metal climbed all the way to $1013.70 per ounce before settling at an all-time closing high of $1006.20 per ounce, up 0.9% on the session.

Oil was less fortunate. It showed promise in early pit trade, but encountered resistance as it approached the $73 per barrel level and closed the session with a 3.8% loss at $69.22 per barrel.

Despite oil's reversal, the energy sector was able to eke out a fractional gain. Schlumberger (SLB 60.39, +1.96) was a leader in the sector amid reports from Dow Jones that analysts at Goldman Sachs upgraded the oil equipment outfit.

Financials finished as the worst performing sector. They dropped 0.8% amid weakness in diversified banks (-1.0%) and diversified financial services companies (-1.6%).DJ30 -22.07 NASDAQ -3.12 NQ100 +0.0% R2K -0.2% SP400 +0.1% SP500 -1.41 NASDAQ Adv/Vol/Dec 1088/2.33 bln/1578 NYSE Adv/Vol/Dec 1674/1.29 bln/136

3:35 pm : The major averages are trading just shy of the unchanged level.

After showing relative strength early in the session, the energy space sold off. As such, energy futures as a whole finished 3.5% lower this session.

Crude oil futures hit a session high, flirting with the $73 per barrel level, in the early morning. However, after failing to break through that resistance level, the crude oil futures sold off. Bearish bias continued for the rest of the session as the October futures slid through the $70 level to close down 3.8% at $69.22 per barrel.

Much like crude oil futures, natural gas futures sold off following initial strength. The October futures gave back about half of yesterday's impressive gains to close down 8.2% at $2.99 per contract.

Precious metals, on the other hand, were able to net gains this session.

The dollar index made yet another 52-week low this session.

This allowed gold futures to finally close above the coveted $1,000 per ounce level. After hitting a session high -- also highs not seen since February -- at $1,013.70 per ounce in the morning, the December futures set an all-time closing high at $1,006.20 per ounce, up 0.9% on the session.

December silver futures closed marginally higher this session, up 0.3% at $16.72 per ounce. DJ30 -14.28 NASDAQ -2.90 SP500 +0.29 NASDAQ Adv/Vol/Dec 1125/1.97 bln/1450 NYSE Adv/Vol/Dec 1699/940 mln/1303

3:00 pm : Stocks have pared their losses, but they remain in the red.

Buying interest among telecom stocks has taken the sector from a 0.7% loss to a 0.2% gain. Consumer staples stocks make up the best performing sector, though. It is up 0.3% with Colgate-Palmolive (CL 75.40, +2.16) providing leadership after Dow Jones reported that the stock was upgraded by analysts at Goldman Sachs.

Meanwhile, Treasuries have come under pressure, leading the benchmark 10-year Note to surrender all of its gains.DJ30 -31.59 NASDAQ -5.33 SP500 -2.02 NASDAQ Adv/Vol/Dec 1106/1.81 bln/1543 NYSE Adv/Vol/Dec 1623/860 mln/1372

2:30 pm : Shares of financial stocks are trading with a 0.7% loss, which is currently worse than any other major sector. Among financials, consumer finance stocks (-1.4%) and diversified financial services stocks (-1.3%) are suffering the most.

Banking giant Bank of America (BAC 17.05, -0.17) is a primary laggard in the sector. The company, according to Reuters, is still in discussions regarding an approach to compensating the government for previous loss-sharing arrangements.

Investment services outfit Morgan Stanley (MS 29.11, +0.47) is showing strength, though. The company confirmed today its executive succession plan now that CEO John Mack is stepping down. Mack will still serve as company Chairman. He stated in a CNBC interview today that the lesson of this crisis is that there needs to be a limit to leverage.DJ30 -32.25 NASDAQ -5.21 SP500 -2.13 NASDAQ Adv/Vol/Dec 1099/1.67 bln/1544 NYSE Adv/Vol/Dec 1598/803 mln/1369

2:00 pm : The Treasury Budget for August came in with a $111.4 billion shortfall, which isn't as severe as the $139.5 billion shortfall that had been expected.

Stocks haven't shown much of a reaction to the announcement, but Treasuries have handed back some of their recent gains. The benchmark 10-year Note is still up comfortably, though.DJ30 -39.83 NASDAQ -6.32 SP500 -2.57 NASDAQ Adv/Vol/Dec 1076/1.58 bln/1559 NYSE Adv/Vol/Dec 1524/762 mln/1430

1:30 pm : All three major indices remain stuck in negative territory. Of the major sectors in the S&P 500, only industrials have managed to hold steady in positive ground -- they are up 0.3% amid continued leadership from FedEx (FDX 76.52, +3.86).

Meanwhile, retailers are underperforming by a considerable margin. As a group, retailers are down 1.0%. Among retailers in the S&P 500, decliners outnumber advancers by more than 4-to-1. Best Buy (BBY 39.54, -1.51) is a primary laggard in the group. Its shares were downgraded by analysts at Oppenheimer. DJ30 -31.89 NASDAQ -5.39 SP500 -2.46 NASDAQ Adv/Vol/Dec 1076/1.45 bln/1551 NYSE Adv/Vol/Dec 1541/697 mln/1400

1:00 pm : Choppy trading has given way to a mild fit of selling pressure that has kept stocks from extending recent gains on the back of several positive announcements.

An upbeat earnings forecast from FedEx (FDX 77.05, +4.39) helped keep the stock market's bullish mood intact and start the session in positive territory. Campbell Soup (CPB 33.00, -0.12) and National Semiconductor (NSM 15.00, -0.97) also made upbeat forecasts, but their announcement didn't do much for participants.

In terms of data, the Import Price Index for August increased more than expected month-over-month, while the preliminary consumer sentiment survey from the University of Michigan made a surprisingly strong jump, and wholesale inventories for July fell more than expected. The August Monthly Budget Statement is due at 2:00 PM ET.

Rather than push higher in the wake of the data, stocks struggled to find direction as sellers took money off of the table after watching the stock market rise nearly 3% this week to fresh 2009 highs.

Though sellers are pressuring stocks, losses remain relatively contained. Still, weakness among stocks has helped Treasuries extend the previous session's advance, which has put the benchmark 10-year Note's yield at one of its lowest levels in months.

Buyers have also moved into gold, which pushed prices for the yellow metal to fresh 2009 highs above $1010 per ounce earlier this session. Gold was last quoted 0.8% higher at $1004 per ounce. That has the SPDR Gold Trust (GLD 98.60, +0.90) outperforming the broader market.

Oil prices had been building on gains earlier this session as they made their way toward $73 per barrel, but the commodity has since reversed course to trade with a considerable 3.3% loss at $69.55 per barrel. Oil's reversal has sent the U.S. Oil Fund (USO 35.94, -1.43) to session lows. Oil's influence on the PowerShares DB Commodity Index (DBC 21.80, -0.43) has offset the strength in gold prices.DJ30 -37.63 NASDAQ -8.17 SP500 -3.10 NASDAQ Adv/Vol/Dec 1046/1.36 bln/1568 NYSE Adv/Vol/Dec 1780/655 mln/1441

12:30 pm : Stocks recently attempted to pull up from negative ground and break into positive territory, but they were rebuffed at the neutral line and have since retreated to fresh session lows. The stock market's loss, however, is still relatively mild.

While stocks are struggling currently, gold prices are having a strong session. The yellow metal managed to make its way to fresh highs for 2009 above $1010 per ounce. It has since pulled back a bit, but still sports a 1.1% gain at $1007 per ounce.DJ30 -33.55 NASDAQ -9.31 SP500 -2.79 NASDAQ Adv/Vol/Dec 1079/1.20 bln/1502 NYSE Adv/Vol/Dec 1495/582 mln/1402

12:00 pm : A sudden flurry of selling pressure has taken stocks into the red. Losses remain moderate, though.

Of the 10 major sectors, energy and industrials are the only two that are still in positive ground. Despite weakness in the broader market and a reversal by oil prices to a 1.3% loss at $71.00 per barrel, energy stocks are up 0.4%. Industrial stocks are up 0.5% amid strength in FedEx (FDX 77.27, +4.61), which posted upside guidance this morning.DJ30 -17.23 NASDAQ -3.36 SP500 -0.50 NASDAQ Adv/Vol/Dec 1143/1.10 bln/1416 NYSE Adv/Vol/Dec 1656/538 mln/1233

11:30 am : Semiconductor stocks are showing weakness following the latest quarterly report from National Semiconductor (NSM 15.15, -0.82). For its first fiscal quarter, the company brought in a better-than-expected $0.13 per share and improved margins. The company went on to issue upside revenue guidance.

The negative reaction to the company's upbeat report comes as participants act in a sell-the-news manner, since an earnings beat and upside forecast have become the basic expectation for semiconductor companies. Such was also the case for Texas Instruments (TXN 24.73, -0.27), which recently issued an upside forecast in its midquarter update, but has been pressured in each of the last two sessions.

Weakness among semiconductor and semiconductor equipment stocks has the Philadelphia Semiconductor Index down 0.7%.DJ30 -12.24 NASDAQ -1.04 SP500 +0.07 NASDAQ Adv/Vol/Dec 1194/934 mln/1317 NYSE Adv/Vol/Dec 1757/462 mln/1109

11:00 am : Choppy trading continues to restrain the major indices and make for relatively mixed action.

Consumer discretionary stocks (-0.2%), utilities (-0.2%), financials (-0.1%), and health care (-0.1%) make up the only major sectors to trade in the red. Gains by the other sectors are generally limited, except for those by industrials and energy stocks. The latter two sectors are sporting 0.9% gains.

Amid the choppy trade, Treasuries are garnering support, which has helped them build upon the previous session's advance. The benchmark 10-year Note is currently up 15 ticks, which has pushed its yield below 3.3% for the first time since May, according to data from The Wall Street Journal.DJ30 -0.68 NASDAQ +1.37 SP500 +1.98 NASDAQ Adv/Vol/Dec 1238/759 mln/1229 NYSE Adv/Vol/Dec 1775/384 mln/1055

10:30 am : October crude oil traded choppy overnight, but just before the open of pit trading, crude spiked out of negative territory to fresh highs of $72.90 per barrel. Currently, crude is trading 0.5% higher at $72.27 per barrel.

October natural gas bounced off of morning lows of $3.195 per MMBtu to fresh highs of $3.424 per MMBtu right at the open of pit trading. In recent activity, natural gas is 2.1% higher at $3.326 per MMBtu.

The US Dollar Index continues to trade lower, which is adding price strength in precious metals. December gold and December silver hit recent highs of $1013.70 per ounce and $17.015 per ounce, respectively, after trading in positive territory in overnight trading. Gold is currently 1.4% higher at $1010.8 per ounce, while silver is up 1.5% at $16.925 per ounce.DJ30 -7.18 NASDAQ -0.91 SP500 +0.86 NASDAQ Adv/Vol/Dec 1206/572.8 mln/1185 NYSE Adv/Vol/Dec 1730/307.5 mln/1054

10:00 am : Stocks continue to gyrate in the early going, though the three major indices have managed to make their way back into positive territory.

The improved tone comes in the wake of the preliminary consumer sentiment survey from the University of Michigan. The survey hit 70.2, which is better than the 67.5 that was expected and up from the 65.7 that was registered in August.

Separately, wholesale inventories for July fell 1.4%, which is a bit steeper than the 1.0% decline that was widely expected. However, July's figure wasn't as bad as the downwardly revised 2.1% decline that was registered in June.

Early Movers: Trading up -- CMRO +43.2%, SPDE +30%, AXL +19%, NIV +15.6%, CPE +8.7%, QDEL +7.3%, RRI +6.9%, EDAP +6.4%, CHK +6.4%, RGC +6.4%, ECA +6.3%, AZC +6.3%, DAN +6.2%; Trading down -- QELP -9.7%, RNWK -7.4%, DVAX -6.7%, REXX -6.5%, BRC -6.3%, FITB -6.2%, HWD -4.6%, UBSH -4.5%DJ30 +17.23 NASDAQ +3.52 SP500 +3.60 NASDAQ Adv/Vol/Dec 1254/344 mln/969 NYSE Adv/Vol/Dec 1876/203 mln/809

09:45 am : Trading has been rather choppy in the first few minutes of trading, leaving the major indices to trade in mixed fashion. However, the energy sector is showing considerable strength as it sports a 1.0% gain.

Energy's advance comes amid continued increases in oil prices, which were last quoted 0.8% higher at $72.50 per barrel. The broader sector has also benefited from the decision by analysts at Goldman Sachs to raise their rating on shares of oil well services and equipment company Schlumberger (SLB 60.96, +2.53). With this session's advance, shares of SLB are up some 40% year-to-date, while the broader energy sector is up just 6% this year.DJ30 +0.38 NASDAQ -2.56 SP500 +1.54 NASDAQ Adv/Vol/Dec 1090/205 mln/1049 NYSE Adv/Vol/Dec 1653/134 mln/958

09:15 am : S&P futures vs fair value: +1.30. Nasdaq futures vs fair value: +0.80. Upside guidance from FedEx (FDX) has helped stock futures add to their early gains. The global shipment company said that it expects first quarter earnings to come in at $0.58 per share and second quarter earnings to range from $0.65 to $0.95 per share. Analysts, on average, had forecast earnings of just $0.44 per share for the first quarter and earnings of $0.70 per share for the second quarter. There haven't been many other corporate news items to complement the announcement from FedEx, so most of the bullish bias in the broader market is being attributed to the willingness of participants to continue chasing stocks even after they closed the previous session at fresh 2009 highs. Stocks are now up 20% from their July lows, so many pundits believe that stocks are due for a pullback. However, it is widely known that stocks can remain overbought for an extended period of time. Participants await the preliminary consumer sentiment survey for September from the University of Michigan (9:55 AM ET), wholesale inventory data for July (10:00 AM ET), and the August Monthly Budget Statement (2:00 PM ET). The Import Price Index for August was released at 8:30 AM ET, but it didn't have much of an impact on trading.

09:00 am : S&P futures vs fair value: +0.10. Nasdaq futures vs fair value: +1.00. U.S. stock futures continue to show moderate strength, while European stocks are sporting solid gains in their sixth straight advance. The German DAX is currently up 0.6% with Allianz (AZ) acting as a primary leader. Volkswagen is also providing support. Shares of its peer Daimler (DAI) are also up, despite being downgraded by analysts at HSBC. France's CAC is currently up 0.9% with steel giant ArcelorMittal (MT) driving gains. Steel and metals outfits are also providing leadership to Britain's FTSE, which is up 0.8%. As such, Rio Tinto (RTP), BHP Billiton (BHP), and Xstrata (XTA) are sporting solid gains. Mainland China's Shanghai Composite made the best gains of the major Asian averages by closing with a 2.2% gain. Many of its investors were encouraged by news that industrial output spiked more than 12% year-over-year, fixed asset investment surged 33% year-over-year, and retail sales jumped more than 15% year-over-year. A better-than-expected increase of bank lending during Aug also helped calm concerns regarding contraction in liquidity. Meanwhile, the MSCI Asia Pacific Index closed a modest 0.4% higher, but Japan's Nikkei fell 0.7% after its second quarter GDP was unexpectedly revised downward to show an annual growth rate of 2.3%. Toyota (TM) and Honda Motor (HMC) both retreated. Nippon Steel and Daido Steel both declined as well. In Hong Kong, the Hang Seng tacked on 0.4%. Bank stocks were among its top gainers.

08:35 am : S&P futures vs fair value: -0.20. Nasdaq futures vs fair value: +0.80. The Import Price Index for August increased 2.0% month-over-month, but fell 15.0% year-over-year. Economists, on average, had expected prices to make a 1.0% monthly increase and a 15.9% annual decline. The index for July showed a monthly decline of 0.7% and a 19.2% annual decline, which was down moderately from the initially reported 19.0% annual decline. Stock futures have shown little reaction to the data. Next up on the day's economic calendar are consumer sentiment data for September from the University of Michigan (9:55 AM ET) and wholesale inventory data for July (10:00 AM ET).

08:00 am : S&P futures vs fair value: +0.10. Nasdaq futures vs fair value: +1.50. Stock futures indicate that participants are willing to keep pushing stocks higher after the major averages settled the previous session at their best levels of 2009. The relatively positive tone this morning has also been helped by continued gains overseas -- Europe's major indices are up for the sixth straight session and China's Shanghai Composite logged a gain of more than 2% in its final trading session of the week. Overall news flow is slow ahead of the latest import and export prices data (8:30 AM ET), University of Michigan Consumer Sentiment Report (9:55 AM ET), and wholesale inventory data (10:00 AM ET). The monthly budget statement is out later this afternoon (2:00 PM ET).

06:20 am : S&P futures vs fair value: -0.20. Nasdaq futures vs fair value: -1.50.

06:20 am : Nikkei...10444.33...-69.30...-0.70%. Hang Seng...21161.42...+91.90...+0.40%.

06:20 am : FTSE...5021.52...+33.80...+0.70%. DAX...5627.80...+33.00...+0.60%.

Go Back To TheStrategyLab.com Homepage


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

All times are UTC - 5 hours


Who is online

Users browsing this forum: No registered users and 1 guest


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