Thursday, 28 March 2013

Pre-Market Brief

Good morning. Futures are back to flat after overnight moderate declines. The sp +1pt, we're set to open around 1563/64. The dollar is a touch lower, as Euro rallies on a little 'Cyprus relief'. Precious metals though are a little weak, with Gold -$6 and Silver -10 cents.




Its tough to call how we'll close today, but all things considered - not least the POMO of 4-5bn, I'd have to think we'll close at least moderately on the upside.

We have some key econ-data today, and if Mr Market likes that, we could even close in the sp'1570s.

Its week/month/quarters end, so it could be a little volatile this afternoon.

*I'm merely looking to drop my first SLV (silver long) block ahead of the long weekend. I won't be picking up any index shorts this side of a long weekend.

UPDATE :  GDP Q4 (final revision) 0.4%..   not exactly an inspiring number to conclude 2012, is it?

Jobless claims, 357k, although I now place very little respect for the weekly numbers.

*awaiting Chicago PMI @ 9.45am.