Thursday 24 October 2013

Pre-Market Brief

Good morning. Futures are moderately higher, sp +5pts, we're set to open around 1751. Metals are slightly higher, Gold +$5, Oil is again weak, -0.4%. Equity bulls have an opportunity to push the market to the 1760s today.


sp'60min


Summary

*weekly jobless; 350k , vs 335 expected.
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So, moderate gains to start the day.

There is a small risk of downside, best bear case is 1730, although that seems very unlikely considering the bigger weekly price momentum.


If the market likes the FOMC next week, we could even close the month pretty close to the 1800s, which would frankly surprise just about everyone..except yours truly.

notable early movers: AKAM, -9% @ $47, on bad earnings, FFIV +5% to $90, on good earnings !
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Mr permabull looking for a pause day



Hmm