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)
wrbanalysis@gmail.com (24/7)
http://twitter.com/wrbtrader (24/7)
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click on the above image to view today's performance verification
Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ ($160.00) dollars or -1.60 points, Emini ES ($ES_F) futures @ $5750.00 dollars or +115.00 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $5590.00 dollars
Russell 2000 Emini TF Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ The ICE
S&P 500 Emini ES Futures: 1 tick or 0.25 = $12.50 dollars and there's more contract information @ CMEGroup
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
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All of my real-time posted trades involves price action concepts from the WRB Analysis free study guide, Advance WRB Analysis Tutorial Chapters 4 - 12 and the Volatility Trading Report (VTR) trade signal strategies. Analysis -----> Trade Signals
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. Simply, my trade method is applicable for position trading, swing trading and day trading.
##TheStrategyLab Chat Room is free. Members and I use the chat room to post WRB Analysis commentary, real-time trades and to post anything else related to trading. The chat room helps me tremendously in my own trading because I use it to document (journal) general volatility analysis involving WRB Analysis so that I can easily review at a later date my thoughts as I interacted with the markets...info I can not get from my broker statements. Also, this is not a signal calling chat room where a head trader tells you when to buy or sell and I do not have the time/energy/resources to manage a signal calling chat room. Access instructions for chat room @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164 Price Action Analysis via Advance WRB Analysis Tutorial Chapters @ 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 Analysis -----> Trade Signals
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 (answering your questions) prior to purchasing the Volatility Trading Report (VTR). All WRB Analysis Tutorial Chapters 1 - 12 are included in the purchase of the Volatility Trading Report (VTR). Daily Trading Plan Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=277&t=2948 contains brief information about trading plan, market context, brokers, trading time frames, position size management and other discussions. -----------------------------
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The below summaries by Bloomberg, Briefing, Reuters and Yahoo! Finance helps me to do a quick review of the fundamentals, FED/ECB/BOE/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. Further, most financial websites remove (delete) their archives after a few years to make room for new content. Therefore, I maintain my own archives of the news content so that I have it available for me when financial websites no longer archives their content.
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click on the above image to view today's price action of key markets
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4:05 pm: [BRIEFING.COM] The major averages registered their second consecutive decline on Thursday with the S&P 500 shedding 0.1% while the Nasdaq Composite (-0.3%) underperformed.
Broadly speaking, the Thursday affair was fairly quiet, but that was not particularly surprising considering Friday morning will feature the release of the Employment Situation report for October. The Briefing.com consensus expects the report to reveal the addition of 181,000 payrolls while hourly earnings are expected to have increased 0.2% in October.
Tomorrow's report could lead to volatility in the market, making today's reluctance among investors to push the market in either direction rather understandable. The S&P 500 is set to enter the Friday session with a week-to-date gain of 1.0% while the Nasdaq is higher by 1.5% for the week despite today's underperformance.
Biotechnology was largely responsible for today's relative weakness in the tech-heavy Nasdaq. Valeant Pharmaceuticals (VRX 78.77, -13.21) was in focus once again as the stock dove 14.4% amid continued concerns about the company's revenue recognition practices. However, biotech's woes were not isolated to Valeant as Gilead Sciences (GILD 107.83, -1.15) lost 1.1% while Celgene (CELG 120.46, -6.71) dove 5.3% after reporting a one-cent beat on below-consensus revenue. For its part, the broader iShares Nasdaq Biotechnology ETF (IBB 331.16, -6.47) lost 1.9% while the health care sector surrendered 0.4% after being down more than 1.0% in the early going.
Similar to health care, influential sectors like energy (-1.0%) and technology (-0.3%) also finished among the laggards. The energy sector narrowed its week-to-date gain to 2.9% amid a decline in crude oil. To that point, WTI crude fell 2.3% to $45.26, widening this week's decline to 2.9% after being up nearly 4.0% at its best level on Tuesday.
As for technology, the top-weighted sector struggled amid weakness in the chipmaker arena after Qualcomm's (QCOM 51.07, -9.19) cautious guidance overshadowed better than expected earnings. Shares of QCOM fell 15.3% while the PHLX Semiconductor Index fell 2.1%. Elsewhere in the tech sector, Facebook (FB 108.76, +4.82) surged 4.6% in reaction to better than expected results.
Treasuries spent the day in negative territory, ending roughly in the middle of their ranges with the 10-yr yield rising one basis point to 2.24%.
Today's participation was roughly in line with average as more than 870 million shares changed hands at the NYSE floor.
Economic data released today included initial claims and productivity/unit labor cost data:
Initial claims for the week ending October 31 increased 16,000 to 276,000 (Briefing.com consensus 262,000) from an unrevised 2600,000 level in the prior week. There were no special factors influencing the jump in claims, which are still running at encouragingly low levels.
The four-week moving average for initial claims increased by 3,500 to 259,250
Continuing claims for the week ending October 24 increased 17,000 to 2.163 million (Briefing.com consensus 2.145 mln) from the prior week's upwardly revised level of 2.146 million (from 2.144 mln)
The preliminary third quarter productivity report showed nonfarm business productivity increasing 1.6% quarter to quarter (Briefing.com consensus -0.2%) versus 3.5% in the second quarter
Output increased 1.2% while hours worked decreased 0.5%, marking the first decline in that series since the third quarter of 2009
Unit labor costs were up just 1.4% (Briefing.com consensus 2.2%)
Tomorrow, October Nonfarm Payrolls (Briefing.com consensus 181,000) will be reported at 8:30 ET while the September Consumer Credit report (consensus $18.00 billion) will be released at 15:00 ET.
Nasdaq Composite +8.3% YTD
S&P 500 +2.0% YTD
Dow Jones Industrial Average +0.2% YTD
Russell 2000 -1.1% YTD
3:45 pm: [BRIEFING.COM]
Natural gas futures surged 4.4% today to close at $2.36/MMBtu after the EIA issued a bullish storage report
In current trade, Dec nat gas is at +4.9% at $2.37/MMBtu
Dec crude oil sold off today, sinking despite some recent bullish catalysts including Libya post, Brazil production
Precious metals slid lower today ahead of tomorrow's jobs data
Dec gold closed today -0.2% at $1104.10/oz, while Dec silver ended -0.6% at $14.97/oz
2:55 pm:
[BRIEFING.COM] The S&P 500 trades lower by 0.2% with one hour remaining in the session. The benchmark index displayed a slim gain at the start, but slipped below its flat line shortly after 10:00 ET. The index then crawled back to its flat line after 13:00 ET, but could not extend that move into the green. Instead, the S&P 500 has drifted just below the unchanged level since then.
If the S&P 500 remains in negative territory for the next hour, the index will register its second consecutive decline, trimming this week's gain to 0.9%.
Elsewhere, Treasuries are set to close the day with modest losses that have pushed the 10-yr yield higher by two basis points to 2.24%.
2:25 pm:
[BRIEFING.COM] Afternoon action remains relatively quiet with the S&P 500 (-0.2%) hovering just below its flat line with eight sectors trading in the red.
The energy sector (-1.1%) has shown volatility throughout the day and the group is back behind the remaining nine sectors. Similarly, crude oil has slid to a new session low with the pit close approaching. The energy component is lower by 2.1% at $45.37/bbl today, extending this week's loss to 2.6% after being up 3.8% at its highest point on Tuesday.
On the upside, consumer discretionary (+0.2%) and financials (+0.4%) remain in the lead.
1:55 pm:
[BRIEFING.COM] The Dow (-0.1%) and S&P 500 (-0.1%) continue drifting within an earshot of their respective flat lines while the Nasdaq Composite (-0.3%) remains a bit behind due to continued weakness among high-beta biotechnology and chipmaker stocks.
Elsewhere, financials (+0.5%) and consumer discretionary (+0.2%) have held modest gains since this morning. In addition, the industrial sector (+0.1%) has inched into the green after struggling in the early going. Transport stocks, however, have shown relative strength with the Dow Jones Transportation Average rising 0.5%. Seven index components are underwater while shipper Matson (MATX 51.63, +5.23) leads with an 11.3% gain after beating earnings estimates on below-consensus revenue.
On a separate note, Treasuries have ticked up off their lows, but they remain in negative territory with the 10-yr yield up two basis points at 2.25%.
1:35 pm:
[BRIEFING.COM] The major U.S. indices continue to trade just below base levels and the Nasdaq lags.
A look inside the Dow Jones Industrial Average shows that Chevron (CVX 95.12, -1.65), IBM (IBM 139.88, -1.75), and Procter & Gamble (PG 76.11, -0.95) are underperforming. Chevron is leading the Dow lower with the entire energy sector weaker as crude oil futures pullback
Conversely, Visa (V 79.44, +1.09) is the best-performing Dow component.
Despite today's weaker session, the DJIA is still up 1.1% this week.
12:55 pm:
[BRIEFING.COM] The major averages hover in the red at midday with the Dow Jones Industrial Average (unch) and S&P 500 (-0.1%) trading a bit ahead of the Nasdaq Composite (-0.4%).
The stock market has spent the first half of the Thursday session in a 20-point range, but that has masked a relatively quiet affair that saw stocks surrender their opening gains in reaction to a notable pullback in biotechnology.
To that point, the iShares Nasdaq Biotechnology ETF (IBB 331.51, -6.12) has surrendered 1.7% with Valeant Pharmaceuticals (VRX 80.37, -11.61) diving 12.6% amid continued concerns about the company's revenue recognition practices. The late-morning slide in Valeant has weighed on the health care sector, but the heavily-weighted group has narrowed its loss to 0.5% after being down more than 1.0% earlier.
Similar to health care, the top-weighted technology sector (-0.3%) has struggled since the early going, but their losses have been largely offset by the relative strength in consumer discretionary (+0.2%) and financials (+0.4%).
As for technology, high-beta chipmakers have retreated after Qualcomm's (QCOM 51.84, -8.42) below-consensus guidance overshadowed better than expected results. Shares of QCOM have tumbled 14.0% while the PHLX Semiconductor Index is lower by 1.8%.
Elsewhere in the tech sector, Facebook (FB 109.09, +5.15) has surged 5.0% in reaction to better than expected results, helping offset the relative weakness in the chipmaker space.
Also of note, the energy sector (-0.3%) has displayed some volatility in the early going and the group currently trades a bit behind the broader market amid a 0.4% decline in crude oil, which has slipped to $46.13/bbl. Despite today's retreat, the energy sector is higher by 3.7% for the week.
Treasuries have notched their lows within the past 90 minutes and they remain near those levels with the 10-yr yield higher by three basis points at 2.25%.
Economic data released today included initial claims and productivity/unit labor cost data:
Initial claims for the week ending October 31 increased 16,000 to 276,000 (Briefing.com consensus 262,000) from an unrevised 2600,000 level in the prior week. There were no special factors influencing the jump in claims, which are still running at encouragingly low levels.
The four-week moving average for initial claims increased by 3,500 to 259,250
Continuing claims for the week ending October 24 increased 17,000 to 2.163 million (Briefing.com consensus 2.145 mln) from the prior week's upwardly revised level of 2.146 million (from 2.144 mln)
The preliminary third quarter productivity report showed nonfarm business productivity increasing 1.6% quarter to quarter (Briefing.com consensus -0.2%) versus 3.5% in the second quarter
Output increased 1.2% while hours worked decreased 0.5%, marking the first decline in that series since the third quarter of 2009
Unit labor costs were up just 1.4% (Briefing.com consensus 2.2%)
12:25 pm:
[BRIEFING.COM] Equity indices remain beneath their flat lines with the S&P 500 trading lower by 0.2%.
The benchmark index has ticked up off its late-morning low, but it is worth pointing out that seven sectors continue trading in the red, which is likely to pose a headwind to the broader market. The materials sector (-0.6%) is the weakest performer while more influential sectors like energy (-0.4%), technology (-0.3%), and health care (-0.5%) also sit in negative territory.
Despite today's downtick, the S&P 500 remains on track to enter the Friday session with a weekly gain, having climbed 1.0% since last Friday.
11:55 am:
[BRIEFING.COM] Not much change in the market with the key indices holding modest losses. The S&P 500 remains lower by 0.2% with seven sectors hovering in the red.
That being said, the health care sector has narrowed its decline to 0.4% after being down more than 1.0% earlier. However, biotechnology remains well behind the broader market with iShares Nasdaq Biotechnology ETF (IBB 331.76, -5.87) trading lower by 1.7%.
Similar to health care, most of the remaining laggards have narrowed their losses, leaving the materials sector (-0.8%) at the bottom of the leaderboard.
11:25 am:
[BRIEFING.COM] The major averages remain near their recent levels with the Nasdaq Composite (-0.5%) trailing the S&P 500 (-0.3%).
Biotechnology has been the main driver behind the underperformance in the Nasdaq while the technology sector (-0.4%) trades right behind the broader market. However, most sector components trade well below their flat lines while Facebook (FB 109.18, +5.24) outperforms with a gain of 5.0% after reporting better than expected results.
Also of note, high-beta chipmakers have struggled, evidenced by a 2.1% decline in the PHLX Semiconductor Index. Only four index components trade in the green while Qualcomm (QCOM 52.20, -8.06) has surrendered 13.4% after below-consensus guidance overshadowed better than expected results.
10:55 am:
[BRIEFING.COM] Equity indices have slid to new lows with the S&P 500 trading lower by 0.5% while the Nasdaq Composite (-0.7%) underperforms.
After holding a modest gain through the opening 30 minutes of the session, the stock market has reversed from highs due to a recent dive in the biotech group. The iShares Nasdaq Biotechnology ETF (IBB 328.26, -9.37) has given up 2.8% while the health care sector is lower by 1.1%. Most notably, Valeant Pharmaceuticals (VRX 77.56, -14.42) has plunged to a new low, trading lower by 16.2% amid continued concerns about the company's revenue recognition practices.
Similar to health care, energy (-1.1%) and materials (-1.2%) also show losses larger than 1.0% while the remaining sectors sit closer to their flat lines.
10:35 am: [BRIEFING.COM]
The dollar index trended in a moderate range around the flat-line early/overnight, following strong gains made yesterday on commentary from Janet Yellen
Yellen in a discussion on regulation, indicated that December would likely be a live meeting for a rate decision
The dollar also held steady this morning, in the face of worse than expected US unemployment data (Initial claims at 276K vs. 264K estimate and continuing claims at 2.16 mln vs. a 2.15 mln estimate). The index now stands at +0.1% to 98.11
Precious metals have traded relatively muted so far this session, with a small dose of recent selling pressure pushing gold near-flat and silver negative for the session
Gold now trades at flat at $1106.50/oz and silver at -0.8% to $14.94/oz
WTI also traded flat overnight and in early trade, before seeing a sharp drop on the open of pit trading. Catalysts for price action have included yesterday's EIA inventory figure (a 2.8 mln build) and the release of an internal OPEC document stating that the cartel expects to see weaker demand for the commodity in coming years
After a recently failed rally, December crude is now -1.2% to $45.77/barrel
Natural Gas rallied ahead of EIA inventory data due this morning, which was expected to show a build of about 64 bcf.
Upon release of the data, which showed a 52 bcf build, natural gas rallied higher and is now near its HoD at +3.5% to $2.34/MMBtu
Copper is booking strong losses at -2.2% to $2.27/lb- driven at least peripherally, by a weak German Factory order reading out overnight (-1.7%)
9:55 am:
[BRIEFING.COM] The major averages have extended to new session highs with the Dow trading up 0.2% while the S&P 500 (+0.1%) follows.
The technology sector (+0.5%) remains in the lead while other cyclical sectors like financials (+0.4%) and consumer discretionary (+0.4%) have also climbed ahead of the broader market. Even the energy sector, which was down near 1.0% at the open, is now higher by 0.1%.
On the downside, the health care sector (-0.5%) continues trading behind its peers. Biotechnology has contributed to the early underperformance with iShares Nasdaq Biotechnology ETF (IBB 332.08, -5.55) trading lower by 1.6%.
9:40 am:
[BRIEFING.COM] Equity indices began the trading day just above their flat lines before slipping into the red. As a result, the Dow, Nasdaq, and S&P 500 all trade near their unchanged levels with five sectors showing early gains.
The top-weighted technology sector (+0.4%) has shown relative strength at the start while the remaining groups hover closer to their flat lines. On the downside, energy (-0.6%) and materials (-0.5%) underperform with the energy sector following in the footsteps of crude oil. The energy component is currently lower by 0.6% at $46.05/bbl.
Elsewhere, Treasuries continue holding slim losses with the 10-yr yield up two basis points at 2.24%.
9:15 am: [BRIEFING.COM] S&P futures vs fair value: +2.90. Nasdaq futures vs fair value: +9.00.
The stock market is on track for a higher open with S&P 500 futures trading three points above fair value after climbing steadily since 4:00 ET. The early morning advance in futures has coincided with buying interest in Europe that has pushed markets in Germany and France higher by 1.0% apiece.
Index futures have backed away from their highs, continuing the retreat after the release of weekly initial claims and preliminary Q3 Productivity/Unit Labor Cost data. We can't say that the preliminary third quarter productivity report will put any real inflation scare in the Fed. It showed nonfarm business productivity increasing 1.6% quarter to quarter (Briefing.com consensus -0.2%) versus 3.5% in the second quarter. Output increased 1.2% while hours worked decreased 0.5%, marking the first decline in that series since the third quarter of 2009. Unit labor costs were up just 1.4% (Briefing.com consensus 2.2%).
Separately, initial claims for the week ending October 31 increased 16,000 to 276,000 (Briefing.com consensus 262,000) from an unrevised 2600,000 level in the prior week. There were no special factors influencing the jump in claims, which are still running at encouragingly low levels.
Unlike equity futures, Treasuries have ticked to lows following the data with the 10-yr yield up one basis points at 2.23%.
On the corporate front, Facebook (FB 109.39, +5.45) is on track to open higher by 5.2% in reaction to better than expected results while Qualcomm (QCOM 57.05, -3.21) has surrendered 5.3% in pre-market after below-consensus guidance overshadowed better than expected results.
8:57 am: [BRIEFING.COM] S&P futures vs fair value: +4.90. Nasdaq futures vs fair value: +11.50.
The S&P 500 futures trade five points above fair value.
The Asian equity markets closed generally higher on a night that was very light in terms of macro data. Neither Japan nor China released any data points, but that did nothing to halt the upward momentum in the region. Chinese equities continued to outperform the region with the Shanghai closing nearly 2.0% higher on the day. There wasn't any pull back after yesterday's 4.0% gain, and the Mainland index got an additional sentiment boost following meetings between Chinese and Taiwanese officials that could potentially open up investment opportunities between the two nations. In Japan, the BoJ released the minutes from last week's meeting and the general take away was that the members continue to see progress within the domestic economy and expect inflation to pick up. This likely gave some perspective to investors for not adding any stimulus. With that said, the yen continued to see weakness overnight, which helped to propel the Nikkei 1.0% higher.
In economic data:
Indonesia's Q3 GDP +3.2% (expected 3.3%)
Taiwan's October CPI +0.3% (expected 0.2%)
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Japan's Nikkei increased 1.0%. Japanese shares took off out of the gate and never looked back for the most part. The declines in the yen against the dollar after Janet Yellen's tone surrounding the liklihood of a Dec rate hike helped to provide a bid to the index. The Nikkei was also supported by following better than expected results from Japan Tobacco (+7.5%) and Fast Retailing's unit, Uniqlo (+4.9%). Softbank shares declined 1.2% today after it released earnings after the market closed yesterday.
Hong Kong's Hang Seng was unchanged today. The market was held in check today, with a mixed board across the components. Some of the notable movers to the upside were Ping AN +2.8%, and HSBC +1.9%, and China Life +1.0%. Some of the notable movers to the downside were Sino Land -2.7%, Want Want China -1.7%, and Hang Seng Bank -1.0%.
China's Shanghai Composite rose 1.8%, extending gains and moving back into bull market territory after it has moved up 20% from the summer lows. The telecom sector saw robust gains to give the index support after reports suggested the state was considering consolidating the sector. As such, China Unicom soared 10%, hitting its daily limit up following the news.
Major European indices trade mostly higher while UK's FTSE (-0.1%) underperforms. The Bank of England made no changes to its policy stance, keeping its interest rate and purchase program unchanged at their respective 0.50% and GBP375 billion. Furthermore, the central bank's policy minutes revealed no change in attitude among participants with eight members calling for no change to policy while one member remained in the rate hike camp.
Investors received several data points:
Eurozone September Retail Sales -0.1% month-over-month (expected 0.2%; prior 0.0%); +2.9% year-over-year (consensus 3.0%; prior 2.2%). Separately, Retail PMI 51.3 (prior 51.9)
Germany's September Factory Orders -1.7% month-over-month (expected 1.0%; previous -1.8%)
UK's October Halifax House Price Index +1.1% month-over-month (consensus 0.6%; prior -0.9%); +9.7% year-over-year (consensus 9.5%; last 8.6%)
Swiss October CPI +0.1% month-over-month (expected 0.0%; prior 0.1%); -1.4% year-over-year, as expected (prior -1.4%). Separately, Q4 SECO Consumer Climate -18 (expected -14; previous -19)
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UK's FTSE hovers just below its unchanged level with drugmakers showing relative strength after AstraZeneca reported better than expected results. The stock has spiked 4.2% while peers Hikma Pharmaceuticals and Shire hold respective gains of 2.4% and 1.9%. On the downside, energy and mining names lag with Anglo American, Randgold Resources, BP, and Royal Dutch Shell down between 2.1% and 6.6%.
Germany's DAX trades up 0.9% with Adidas surging 8.1% in reaction to better than expected results. Most other index components also trade in the green while five listings trade in the red with Volkswagen down 3.4%.
In France, the CAC has climbed 1.0%. Societe Generale leads with a 6.9% gain after reporting above-consensus results while Credit Agricole is down 5.8% after missing estimates. Elsewhere, consumer names outperform with Danone, L'Oreal, and Kering up between 1.6% and 2.0%.
8:32 am: [BRIEFING.COM] S&P futures vs fair value: +5.60. Nasdaq futures vs fair value: +11.30.
The S&P 500 futures trade six points above fair value.
The latest weekly initial jobless claims count totaled 276,000 while the Briefing.com consensus expected a reading of 262,000. Today's tally was above the unrevised prior week count of 260,000. As for continuing claims, they rose to 2.163 million from 2.146 million.
Unit labor costs increased 1.4% during the third quarter, which was lower than the 2.2% increase that had been anticipated by the Briefing.com consensus. During the same period, productivity increased 1.6%, according to the preliminary reading while the consensus expected a decrease of 0.2%.
7:56 am: [BRIEFING.COM] S&P futures vs fair value: +7.80. Nasdaq futures vs fair value: +15.30.
U.S. equity futures trade near their pre-market highs amid upbeat action overseas. The S&P 500 futures hover eight points above fair value after hitting pre-market highs during the past 30 minutes.
On the economic front, weekly Initial Claims (Briefing.com consensus 262,000) and preliminary Q3 Productivity/Unit Labor Cost data will be reported at 8:30 ET.
Treasuries sit just below their flat lines with the 10-yr yield at 2.23%.
In U.S. corporate news of note:
Facebook (FB 108.60, +4.66): +4.5% in reaction to better than expected results.
Qualcomm (QCOM 56.27, -3.99): -6.6% after below-consensus guidance overshadowed better than expected results.
Whole Foods (WFM 28.75, -2.01): -6.5% after below-consensus earnings and cautious guidance overshadowed a $1 billion increase in the company's buyback and a 4.0% quarterly dividend hike to $0.135/share.
AstraZeneca (AZN 33.01, +0.88): +2.7% after beating bottom-line estimates and guiding ahead of analyst expectations.
Celgene (CELG 122.49, -4.68): -3.7% after reporting a one-cent beat on below-consensus revenue.
Select Comfort (SCSS 23.75, +2.31): +10.8% after beating estimates and reaffirming its guidance.
Reviewing overnight developments:
Asian markets ended mixed. Japan's Nikkei +1.0%, China's Shanghai Composite +1.8%, and Hong Kong's Hang Seng settled flat
In economic data:
Indonesia's Q3 GDP +3.2% (expected 3.3%)
Taiwan's October CPI +0.3% (expected 0.2%)
In news:
The Bank of Japan released the minutes from its latest meeting, but there was no change in the tone among policymakers as they continue expecting an uptick in inflation
Major European indices trade higher across the board. France's CAC +1.2%, Germany's DAX +1.0%, and UK's FTSE +0.1%. Elsewhere, Italy's MIB +0.5% and Spain's IBEX +0.7%
Investors received several data points:
Eurozone September Retail Sales -0.1% month-over-month (expected 0.2%; prior 0.0%); +2.9% year-over-year (consensus 3.0%; prior 2.2%). Separately, Retail PMI 51.3 (prior 51.9)
Germany's September Factory Orders -1.7% month-over-month (expected 1.0%; previous -1.8%)
UK's October Halifax House Price Index +1.1% month-over-month (consensus 0.6%; prior -0.9%); +9.7% year-over-year (consensus 9.5%; last 8.6%)
Swiss October CPI +0.1% month-over-month (expected 0.0%; prior 0.1%); -1.4% year-over-year, as expected (prior -1.4%). Separately, Q4 SECO Consumer Climate -18 (expected -14; previous -19)
Among news of note:
The Bank of England made no changes to its policy stance, keeping its interest rate and purchase program unchanged at their respective 0.50% and GBP375 billion. Furthermore, the central bank's policy minutes revealed no change in attitude among participants with eight members calling for no change to policy while one member remained in the rate hike camp.
5:51 am: [BRIEFING.COM] S&P futures vs fair value: +3.00. Nasdaq futures vs fair value: +8.50.
5:51 am: [BRIEFING.COM] Nikkei...19116.41...+189.50...+1.00%. Hang Seng...23051.04...-2.50...0.00%.
5:51 am: [BRIEFING.COM] FTSE...6391.26...-21.60...-0.30%. DAX...10928.18...+82.90...+0.80%.
Special thanks to Bloomberg, Briefing, Reuters and Yahoo! Finance for their market summaries.
Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
@ http://twitter.com/wrbtrader 
@ http://stocktwits.com/wrbtraderhttp://www.thestrategylab.com
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