sp'60min
Summary
*ADP jobs, 218k net gains.. a little below expectations, but still 'reasonable'.
Q2 GDP: 4.0% vs. a revised -2.1% (-2.9% previous estimate)
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Growth comes in with a big 4 handle... MUCH better than anyone could have hoped for.
Equities rising, sp +8pts.... 1978.
Frankly...that... in my view.. seals the fate of the bears.. and the market for some months to come.
Next up.... Fed QE taper...at 2pm.. and then jobs Friday, both of which I'd see as a positive for the market.
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Notable hyper strength: TWTR +26% @ $48.
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Good wishes for Wednesday trading
8.57am.. So, we're set for sp +7pts... 1977.. and the 1980s look a given today.
1990/2000s are viable this Friday...which will probably equate to VIX 10s.
R2K should be in the 1150s this morning... a daily close in the 1160s.. difficult..but if the momentum builds..its just about possible.
Notable strength: GRMN +9%... on earnings I guess.
9.22am.. more notable movers...
X (US steel) +16%
UAL +3.4%
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Metals are weak, and are highly vulnerable this afternoon.
9.37am... weird open for GRMN...now its collapsing -3%..