Good morning. US equity futures are a little higher, sp +5pts, we're set to open at 2107. USD is u/c @ DXY 97.95. Metals are flat. Oil is -0.3% in the $46s.
So... we're set to open higher, but the gains look unsustainable... not least with the big jobs data tomorrow.
A daily close in the 2090s is kinda important for the equity bears, as that will keep within range the 200dma of sp'2062.
FB +4% in the $108s... moderately okay earnings, market still cares more about revenue gains.
QCOM -5.5% in the $56s... despite good earnings
WFM -6.7%.... lousy earnings
Interest rate chatter from Schiff
I'm certainly open to the notion of a rate hike in Dec', but it was notable yesterday how Yellen would not rule out negative rates if the economy softened a little.
Overnight Asia action
Japan: +1.0% @ 19116.
China: +1.8% @ 3522.. continuing to battle upward.
DIS have earnings at the close of today, and that will be VERY interesting. I'm expecting a sig' gap lower... even if the numbers are reasonable. Cyclically.. the daily chart is turning negative.
Have a good Thursday