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 Post subject: September 30th Wednesday 2009 Emini ES ($ES_F) no trades
PostPosted: Wed Sep 30, 2009 7:57 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
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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=318

Quote:
No trades today for me due to spouse and toddler being sick. Other than that, it was a record profit month of trading for me in comparison to other trading months for 2009 and one of my best September months in comparison to all my years of trading. See all tomorrow and hopefully October will be just as good.


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 efforts in trade signals while ignoring the impact on their trading results via market psychology, trader psychology (trading habits/routine and 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: +0.00 Emini ES ($ES_F) points (no trades today)

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Stocks Struggle At Quarter End
The Dow, Nasdaq and S&P 500 waver in final moments of the third quarter, but still end 15% higher. Weaker-than-expected reports on employment and manufacturing are in focus.
By Alexandra Twin, CNNMoney.com senior writer
Last Updated: September 30, 2009: 6:19 PM ET

NEW YORK (CNNMoney.com) -- Stocks inched lower Wednesday, following weaker-than-expected readings on manufacturing and the labor market. But the declines were minimal at the end of an upbeat month and quarter on Wall Street.

The Dow Jones industrial average (INDU) fell 30 points, or 0.3%. The S&P 500 (SPX) index lost 3 points, or 0.3%. The Nasdaq composite (COMP) lost just over 1 point, or 0.1%.

Stocks were volatile throughout the session as investors considered the economic news, a weaker dollar and a 6% spike in oil prices. End-of-quarter portfolio rebalancing on the part of investors and fund managers may have contributed to the volatility.

Wednesday was the last day of the third quarter, during which the Dow, S&P 500 and Nasdaq all gained just over 15%.

Stocks slipped Tuesday after a drop in consumer confidence added to worries about the sustainability of an economic recovery.

Since bottoming at a 12-year low March 9, the S&P 500 has gained just shy of 57%, and the Dow has gained around 49% (as of Tuesday's close). After hitting a six-year low, the Nasdaq has gained nearly 68%.

In addition, "there's still so much money on the sidelines that equity investors are using any selloffs to get back in," said Jane Caron, chief economic strategist at Dwight Asset Management.

Bank of America (BAC, Fortune 500) said after the close that CEO and president Ken Lewis is retiring on Dec. 31 after 40 years with the company.

Also after the close, General Motors said it is shutting down its Saturn division after a deal to sell it to Penske Automotive Group (PAG, Fortune 500) fell apart.

Economy: The Chicago PMI fell to 46.1 in September from 50 in August. Economists surveyed by Briefing.com thought it would rise to 52. A reading below 50 signifies contraction in the manufacturing sector.

Another report showed that employers in the private sector cut 254,000 jobs from their payrolls in September after cutting a revised 277,000 jobs in August. Economists expected 200,000 job cuts. The report, from payroll services firm ADP, is a lead up to Thursday's reading on announced jobs cuts and Friday's bigger government employment report.

While the jobs report could be a harbinger of Friday's bigger government jobs report, the manufacturing report is not consistently accurate, Caron said.

"We've seen a spate of reports over the last few weeks that have been disappointing relative to consensus, but it's been nothing that really alters the economic outlook," Caron said.

She said that rather than suggesting that the recovery is losing steam, the reports suggest that after months of improving data, economists have started boosting estimates.

A third report showed GDP shrank at a 0.7% annual rate in the second quarter versus the initially reported 1% and the 1.2% rate forecast by economists.

Companies: CIT Group (CIT, Fortune 500) sank 45% on worries that it may not be able to avoid bankruptcy after all.

The lender's shares rallied Tuesday on reports that it was negotiating a new credit facility that could total $10 billion.

On Wednesday, the Wall Street Journal said that CIT was negotiating a deal with its creditors that would give control of the company to bondholders and wipe out common shareholders. That sent shares tumbling.

Among other movers, shares of Discovery Laboratories (DSCO) surged 22.5% on renewed hopes that its treatment for certain respiratory illnesses affecting premature infants might get approval. The drug, Surfaxin, has already been rejected four times by the FDA. But on Wednesday, Discovery said that the FDA has agreed to its proposed plan for addressing those concerns.

Boeing (BA, Fortune 500), Caterpillar (CAT, Fortune 500), JPMorgan Chase (JPM, Fortune 500), Chevron (CVX, Fortune 500) and Exxon Mobil (XOM, Fortune 500) were among the Dow's losers. Chevron and Exxon dipped despite a rise in oil prices.

Market breadth was negative. On the New York Stock Exchange, losers beat winners four to three on volume of 1.77 billion shares. On the Nasdaq, decliners topped advancers eight to five on volume of 2.75 billion shares.

World markets: Global markets were mixed. In Europe, London's FTSE 100, France's CAC 40 and Germany's DAX all ended lower. In Asia, the Hong Kong Hang Seng fell and the Japanese Nikkei rose.

Currency and commodities: The dollar fell versus the euro and yen, resuming the selloff that has pushed the U.S. currency to one-year lows against a basket of currencies over the last few weeks.

U.S. light crude oil for October delivery rose $3.90 to settle at $70.61 a barrel on the New York Mercantile Exchange after the government reported a surprise drop in inventories.

COMEX gold for December delivery rose $14.90 to settle at $1009.30 an ounce. Gold closed at a record high of $1,020.20 two weeks ago.

Bonds: Treasury prices slumped, raising the yield on the benchmark 10-year note to 3.30% from 3.29% late Tuesday. Treasury prices and yields move in opposite directions.

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Yahoo! Finance

4:25 pm : An early selling effort dropped stocks from an initial gain to a loss of more than 1%, but stocks gradually made their way back to positive ground before falling under a second wave of selling pressure. Although they finished the session with a loss, stocks still logged impressive gains for the month.

Better-than-expected earnings from several companies, including Nike (NKE 64.70, +4.61) and Jabil Circuit (JBL 13.41, +1.13) helped prop up the bias in the broader market this morning. The tone of trade improved further from news that second quarter GDP was revised upward to show an annualized decline of 0.7%, which is better than the 1.2% annualized decline that had been expected.

The GDP headline overshadowed the latest ADP Employment Change Report, which indicated that 254,000 private jobs were lost during September. Since that is worse than the consensus forecast for 200,000 job losses, some wonder whether the government's official nonfarm payrolls report on Friday will be worse than expected.

Despite early signs of strength, stocks reversed direction in the first few minutes of trade. The slide was exacerbated by news that the Chicago PMI reading for September came in at 46.1, below the consensus forecast of 52.0 and down from the previous reading of 50.0.

Within the first hour of trading the S&P 500 saw a modest gain turn into a loss of 1.3%. However, buyers waded back into the action and helped stocks turn their losses into a midday gain. The rally was challenged, though, as the S&P 500 failed to push through its opening highs.

Tech had been a primary source of support for the midsession advance, but renewed selling pressure in the second half of the session left the sector to finish with a mere 0.2% gain. Semiconductor stocks were able to hold on to a near 0.9% gain, however.

Materials stocks had also provided leadership as commodities prices soared. Though the sector faltered and finished with a 0.5% loss, the CRB Commodity Index jumped 2.9% in its best single-session percentage gain in nearly two months.

The CRB's impressive performance came as bullish gasoline inventory data helped underpin a 5.7% gain by crude oil prices, which settled at $70.49 per barrel. Meanwhile, gold prices shot up a strong 1.5% to settle at $1009.50 per ounce.

The strong performance by commodities helped give the CRB Commodity Index a 0.6% gain for September and a 3.8% gain for the third quarter.

Though stocks finished September on a rather dour note, the S&P 500 was still able to book a monthly gain of 2.7% and a quarterly gain of 14.9%, which is the second best quarterly performance for the S&P 500 this decade. The best quarter came in the second quarter of this year, when the stock market advanced 16.7%.

With the end of the quarter at hand, investors and portfolio managers drove trading volume in the NYSE sharply higher as they juggled their portfolios. In turn, nearly 1.8 million shares traded hands on the NYSE. That's the second highest single-session tally this month.

Advancing Sectors: Technology +0.2%, Consumer Staples +0.2%
Declining Sectors: Industrials -0.9%, Utilities -0.9%, Energy -0.5%, Materials -0.5%, Health Care -0.5%, Financials -0.5%, Consumer Discretionary -0.4%, Telecom -0.3%DJ30 -29.92 NASDAQ -1.62 NQ100 +0.1% R2K -1.0% SP400 -0.6% SP500 -3.53 NASDAQ Adv/Vol/Dec 996/2.67 bln/1704 NYSE Adv/Vol/Dec 1257/1.77 bln/1757

3:35 pm : Commodities in general had a strong session aided by a weak dollar. The CRB commodity index rose 2.5% this session. The dollar index is currently down 0.6%. That theme has recurred throughout the quarter, so it was a fitting end to the quarter's last pit trade.

Energy commodities were particularly strong this session. They posted a 4.2% gain.

Bullish gasoline inventory data out this morning was enough to drive crude oil futures higher. The November crude oil futures rose out of negative territory following the bullish data and rose for the remainder of the session, closing at $70.49 per barrel, up 5.7%. Crude oil futures are now near the upper end of the third quarter's trading range of $59 to $75 per barrel.

Natural gas was the only energy commodity that did not rise substantially this session. The November futures fell 0.8% to close at $4.84 per contract. Natural gas futures are now up over 90% since early September. However, much of this gain came recently. Contango in the futures meant the new front-month November contract was trading significantly higher than the recently expired October contract.

Precious metals futures also saw appreciable gains this session.

December gold futures ended the session 1.5% higher at $1009.50 per ounce. After reaching a record closing high earlier in the month, gold futures are now up 11% since July 8. They are also up almost 9% quarter-to-date and about 14% year-to-date.

December silver futures rose 3.1% to close at $16.68 this session. Silver is now up 32% since July 10 and 23% quarter-to-date.DJ30 -56.30 NASDAQ -6.21 SP500 -6.93 NASDAQ Adv/Vol/Dec 986/2.08 bln/1682 NYSE Adv/Vol/Dec 1126/1.02 bln/1828

3:00 pm : As we head into the final hour of trading, the stock market continues to trade in a tight range, hovering around the unchanged mark. Following a busy morning of mixed economic data, news flow has slowed considerably, which helps to explain the lackluster action in stocks over the past two hours.

Looking ahead to the market close, there are few earnings on the calendar today, with Xyratex (XRTX 9.38 +0.18) and Lawson Software (LWSN 6.34 +0.09) a couple of names set to report. However, third quarter earnings season kicks off next week as Alcoa (AA 13.28 -0.02) is scheduled to report earnings on Wednesday.DJ30 -11.2 NASDAQ +1.9 SP500 -2.4 NASDAQ Adv/Vol/Dec 1157/1838/1501 NYSE Adv/Vol/Dec 1340/887.0/1647

2:30 pm : The major indicies are stuck in their sideways drift, but commodities are mounting gains. Gold prices recently closed pit trade at $1009.50 per ounce, up 1.5%. Meanwhile, oil prices are now up 5.8% to $70.60 per barrel. That has the CRB Commodity Index up 2.4% in its best single-session percentage advance in nearly two months.DJ30 +3.93 NASDAQ +6.00 SP500 -0.48 NASDAQ Adv/Vol/Dec 1262/1.69 bln/1379 NYSE Adv/Vol/Dec 1526/811 mln/1437

2:00 pm : After making its way out of the red, the stock market was rebuffed from pushing higher as it came in contact with its opening highs. The stock market is now trading sideways in a narrow range along the unchanged mark.

Materials stocks (+0.2%) and tech stocks (+0.5%) continue to provide support to the broader market, but the broader market is having trouble following their lead. The two sectors make up the only ones to trade with gains.DJ30 +2.57 NASDAQ +5.45 SP500 -0.66 NASDAQ Adv/Vol/Dec 1211/1.60 bln/1405 NYSE Adv/Vol/Dec 1456/760 mln/1568

1:30 pm : Though the broader market has made its way to higher ground and oil prices are up 4.4% to $69.65 per barrel, energy stocks are trading along the flat line. That's largely due to continued weakness among integrated oil companies like Exxon Mobil (XOM 68.88, -0.19) and Chevron (CVX 70.82, -0.09). Chevron made news recently by announcing that John Watson will take over the company as CEO and Chairman, effective December 31, 2009. Watson will succeed David O'Reilly.DJ30 +16.18 NASDAQ +9.02 SP500 +0.66 NASDAQ Adv/Vol/Dec 1271/1.47 bln/1344 NYSE Adv/Vol/Dec 1566/702 mln/1412

1:00 pm : Upbeat earnings and a better-than-expected revised GDP headline gave stocks a positive start, but sellers quickly stepped in and sent stocks considerably lower. Their efforts were emboldened by a disappointing Chicago PMI reading.

Stocks logged a lackluster finish in the previous session, but were poised to start this morning's action with solid gains. The improved tone was helped along by better-than-expected quarterly earnings announcements from Nike (NKE 64.83, +4.74), Jabil Circuit (JBL 13.42, +1.14), Micron (MU 8.27, -0.13), and Darden Restaurants (DRI 33.69, -2.46).

The morning's positive tone took a bit of a hit by news that, according to the ADP Employment Change Report, 254,000 private jobs were lost during September. The consensus had called for 200,000 job losses, so some are wondering if expectations for Friday's official nonfarm payrolls report are too high.

However, the ADP report was overshadowed by news that second quarter GDP was revised upward to show an annualized decline of 0.7%, which is better than the 1.2% annualized decline that was widely expected.

Though the data helped stocks start the session with solid gains, sellers were quick to wrest control. Their intent was intensified by a disappointing Chicago PMI reading of 46.1 for September.

The broader stock market fell to a loss of more than 1% as weakness became widespread, but stocks have been gradually paring their losses during late morning and early afternoon trading.

Technology stocks (+0.8%) have been a primary source of support for the stock market's improved position, as have materials stocks (+0.8%), which are benefiting from higher commodities prices.

Crude oil prices are up 4.2% to $69.50 per barrel even though weekly inventories were up more than expected. Gold prices are also up considerably; the yellow metal last traded 1.6% higher at $1008.70 per ounce. The advances by commodities come with help from a weaker dollar, which is down 0.6% against a basket of major foreign currencies.

Advancing Sectors: Technology +0.8%, Materials +0.8%, Consumer Discretionary +0.2%, Industrials +0.2%, Consumer Staples +0.1%
Declining Sectors: Utilities -1.0%, Health Care -0.5%, Telecom -0.1%, Financials -0.1%, Energy -0.1%DJ30 +12.02 NASDAQ +10.15 SP500 +1.13 NASDAQ Adv/Vol/Dec 1242/1.35 bln/1362 NYSE Adv/Vol/Dec 1566/648 mln/1350

12:30 pm : The stock market is now trading with a relatively modest loss after being down as much as 1.3%.

Tech is providing some key support to the market's improved state. The tech sector is now up 0.2% and is the only major sector in the S&P 500 to sport a gain. Semiconductor stocks are some of the primary advancers among tech issues; the group had actually lagged in the previous session, but it is now sporting a 1.2% gain, based on the Philadelphia Semiconductor Index.DJ30 -45.57 NASDAQ -3.44 SP500 -4.19 NASDAQ Adv/Vol/Dec 948/1.19 bln/1630 NYSE Adv/Vol/Dec 1196/582 mln/1722

12:00 pm : The ascent from session lows has been slow, but steady. Stocks are now at their best levels since they were hit with a wave of selling pressure in the first half-hour of trade. Still, losses remain broad-based.

There are a couple of bright spots, however. Nike (NKE 64.84, +4.75) is close to logging its best single-session percentage gain in months after announcing better-than-expected earnings for its latest quarter.

Commodities continue to make solid gains. With crude oil futures prices up 3.6% to $69.10 per barrel and gold prices up 1.0% to $1002.90 per ounce, the CRB Commodity Index is sporting a 0.8% gain.DJ30 -71.64 NASDAQ -12.36 SP500 -8.08 NASDAQ Adv/Vol/Dec 750/1.05 bln/1794 NYSE Adv/Vol/Dec 969/523 mln/1939

11:30 am : Stocks are lifting out of their recent trading range, but losses remain widespread. As such, roughly 85% of the stocks listed in the S&P 500 are trading in the red.

Of the major sectors in the S&P 500, losses are steepest in health care. The sector is down 1.3% with even sharper declines among health care facilities stocks down 3.3% and managed care stocks down 2.7%. DJ30 -79.12 NASDAQ -15.80 SP500 -8.72 NASDAQ Adv/Vol/Dec 677/914 mln/1855 NYSE Adv/Vol/Dec 850/464 mln/2026

11:00 am : This morning's selling effort has ebbed, but stocks continue to trade with considerable losses as they drift sideways through negative territory.

Weakness is even more pronounced among small-cap stocks, which have the Russell 2000 down 1.8%. Rockwell Medical Tech (RMTI 7.79, -1.21) and Worthington Industries (WOR 13.63, -2.21) are weighing most heavily on the small-cap index. RMTI announced this morning a $22 million registered shelf offering. As for WOR, it announced last evening better-than-expected quarterly earnings, but indicated that headwinds continue to face each of its segments and all of its end markets.DJ30 -86.98 NASDAQ -19.59 SP500 -9.73 NASDAQ Adv/Vol/Dec 609/790 mln/1882 NYSE Adv/Vol/Dec 724/405 mln/2136

10:30 am : October crude oil traded higher overnight until hitting session highs of $67.99 per barrel a few hours before the open of pit trading. Crude has since fallen sharply in recent activity to fresh lows of $66.22 per barrel. Ahead of weekly inventory data, crude was trading down 0.3% at $66.48 per barrel. Following inventory data, which showed a build of 2796K compared to consensus, which called for a build of 2000K, crude saw little reaction and remains near the unchanged line, currently 0.2% higher at $66.85 per barrel.

Overnight, October natural gas traded right around the flat line and then fell quickly early this morning along with crude, hitting its own lows of $4.727 per MMBtu. Natural gas spiked off lows, but was just short of pushing back into positive territory. Currently, natural gas is trading 1.9% lower at $4.783 per MMBtu.

The US Dollar Index index has been trading in negative territory all session so far. The index rose sharply earlier this morning around the time pit trading began for precious metals, but never broke out of negative territory. After December gold and December silver touched morning highs of $1006.4 per ounce and $16.52 per ounce, respectively, both metals reversed to erase its gains in recent trade and moved back near the unchanged line. Currently, gold is 0.3% higher at $997.80 per ounce, while silver is 0.7% higher at $16.295 per ounce.DJ30 -118.57 NASDAQ -26.77 SP500 -13.39 NASDAQ Adv/Vol/Dec 505/588.3 mln/1921 NYSE Adv/Vol/Dec 571/301.1 mln/2227

10:00 am : Stocks recently slowed their descent as the S&P 500 comes in contact with the 1050 level, but pressure has since intensified to send the stock market even lower. Should selling escalate even more, the S&P 500 could face resistance at this week's lows, which stand near the 1040 level.

There isn't a particular source of weakness to account for this morning's slide. Instead, losses have been broad based.

Advancing Sectors: (None)
Declining Sectors: Industrials (-1.8%), Consumer Discretionary (-1.6%), Financial (-1.3%), Materials (-1.2%), Energy (-1.1%), Health Care (-1.1%), Technology (-1.1%), Consumer Staples (-0.9%), Utilities (-0.7%), Telecom (-0.6%)

Early movers: Trading up -- PZE +175%, HOKU +58.9%, VSR +42.7%, TSTR +31.5%, OMN +18.4%, REXX +14.2%, AMP +11.9%, APT +10.5%, AMSC +9.2%, DAC +8.7%, CHIP +8.4%, RINO +7.5%, ZZ +7.2%, IBCA +7.1%, NKE +7.1%, SVA +6.9%, JBL +6.8%; Trading down -- ICON -16.4%, RMTI -12.6%, SOL -9.2%, DYAX -8.4%, DRI -8.1%, ONXX -6%, SMOD -5.8%, AGNC -5.4%, CLP -5.4%, CHBT -5.3%, BLDP -5.2%, RRGB -4.8%DJ30 -126.21 NASDAQ -27.87 SP500 -13.07 NASDAQ Adv/Vol/Dec 453/389 mln/1854 NYSE Adv/Vol/Dec 557/205 mln/2164

09:45 am : The Chicago Purchasing Managers' Index for September has just been released. It came in at 46.1, which is below the 52.0 that was widely expected and down from the 50.0 that was registered in August.

Prior to the report's release, stocks had surrendered their initial gains and moved into negative territory. The disappointing report has prompted stocks to extend their slide so that all 10 major sectors are trading with losses, the steepest of which are seen in the consumer discretionary sector (-1.0%) and industrial sector (-0.9%).DJ30 -67.33 NASDAQ -11.78 SP500 -6.98 NASDAQ Adv/Vol/Dec 777/210 mln/1390 NYSE Adv/Vol/Dec 827/122 mln/1767

09:15 am : S&P futures vs fair value: +3.00. Nasdaq futures vs fair value: +7.00. Stock futures were able to solidify their morning gains with help from a better-than-expected GDP headline number, which was revised upward to show an annualized 0.7% decline for the second quarter. The news enabled stock futures to add to early morning gains that stemmed from a batch of upbeat quarterly earnings announcements and overshadow a disappointing ADP Employment Change Report for September. However, market participants continue to await the Chicago PMI Report (9:45 AM ET). Still, the positive bias to premarket trading has stocks headed toward a higher start for the session. That would build on the S&P 500's near 4% month-to-date gain and 15% quarter-to-date gain. With the end of the quarter at hand, trading volume could see a pickup as investors and portfolio managers do some asset rebalancing.

09:00 am : S&P futures vs fair value: +3.50. Nasdaq futures vs fair value: +7.00. A better-than-expected second quarter U.S. GDP headline number has helped give S&P 500 stock futures support and also helped European stocks trade with modest gains. Ahead of the GDP report Germany's DAX had dipped into negative territory, but the German bourse is now up 0.2%. Allianz (AZ) is primary leader in current action, while Bayer trades as a primary laggard. In France, the CAC is now up 0.5%, though it is short of its morning highs. Nonetheless, insurance outfit AXA (AXA) is providing the most leadership, while financial services companies BNP Paribas and Societe Generale trade with weakness. As for Britain's FTSE, it is up 0.2% with Aviva providing key support. In European economic news, the BBC reported that by falling 0.3%, prices in the eurozone fell in September at a faster rate than they had in August. In Asia, the MSCI Asia Pacific Index advanced 1.1%, while Japan's Nikkei logged a less impressive 0.3% gain. Toyota (TM) reversed early losses amid news the automaker will recall 3.8 million vehicles in the U.S. In economic news, Japanese manufacturing hit a three year high in September, when its PMI hit a seasonally adjusted 54.5. However, Japanese exports slipped for a second month during August, while industrial outpot increased 1.8%, which is less than what had been expected. In Hong Kong, the Hang Seng slipped 0.3%. Industrial and Commercial Bank of China was a weight on action as it fell 1.7% following news it plans to buy Thailand's ACL Bank. In mainland China, the Shanghai Composite climbed 0.9%.

08:35 am : S&P futures vs fair value: +5.40. Nasdaq futures vs fair value: +7.50. Stock futures are trading near their best levels of the morning following a couple of doses of economic data. The ADP Employment Change Report, which was released at 8:15 AM ET, indicated that 254,000 jobs were lost from the private sector during September, but many had expected losses to total 200,000 after job losses totaled 298,000 last month. The ADP data is rarely a precise forecast for the government's official monthly nonfarm payrolls report, which is due this coming Friday, but it is often directionally accurate relative to expectations. Separately, revised data for second quarter GDP has just hit news wires. Second quarter GDP fell an annualized 0.7%, which is better than the 1.2% annualized decline that was widely expected and an improvement from the 1.0% annualized decline that was previously reported. Personal consumption during the second quarter fell 0.9%, which is more shallow than the 1.0% decline that was expected. It is also up from the 1.0% slip that was previously reported. Personal consumption expenditures (PCE) during the second quarter increased 2.0% quarter-over-quarter, as expected. They were also unchanged from the previous report.

08:00 am : S&P futures vs fair value: +3.70. Nasdaq futures vs fair value: +6.00. Stock futures are trading with relative strength following better-than-expected quarterly earnings announcements from Nike (NKE), Jabil Circuit (JBL), Micron (MU), and Darden Restaurants (DRI). Though the premarket bias leans to the positive side of things, attitudes could certainly change with any disappointing data. That has participants awaiting the ADP Employment Change Report for September (8:15 AM ET), personal consumption data for the second quarter (8:30 AM ET), and additional revisions to second quarter GDP figures (8:30 AM ET). The Chicago Purchasing Manager's Index follows (9:45 AM ET). Action in the broader market could also be influenced by end-of-month and end-of-quarter portfolio rebalancing.

06:20 am : S&P futures vs fair value: +4.00. Nasdaq futures vs fair value: +7.00.

06:20 am : Nikkei...10133.23...+33.00...+0.30%. Hang Seng...20955.25...-57.90...-0.30%.

06:20 am : FTSE...5181.45...+21.70...+0.40%. DAX...5735.61...+22.30...+0.40%.

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