Friday 6 July 2012

Pre-Market Brief

Good morning. Futures were flat ahead of the jobs data, but are now showing dow -50pts..but its choppy action.

Frankly, the number is better than I was looking for, and is arguably NOT low enough for QE3 this August.

Jobs data: 80k, 8.2%,


sp'60min



sp, daily5


Summary

So, another arguably poor jobs number, but its not 'dire', so those hoping for guarenteed QE3 in August now have greater uncertainty in my view.

Right now, I'd prefer to re-short around 1385/90,

More across the day...