Good morning. US equity futures are a little lower, sp -6pts, we're set to open at 1906. USD continues to cool, -0.7% in the DXY 96.60s. Metals are still climbing, Gold +$5. Oil is cooling from hyper gains, -1.1% in the $32s.
Yesterday sure saw a powerful reversal... and action <1872 looks unlikely for at least a few weeks.
Today will likely see a lot of chop.. as the market enters a holding pattern ahead of the next jobs data.
Even if I knew the number, what will really matter is how the market interprets the data. A good jobs number will again bring up the threat of a rate hike later this year - something many clearly do not want.
Yet.. a bad jobs number <100k, would merely warn there is serious threat of a US recession.
Would bad news be seen as such?
Japan: -0.8% @ 17044
China: +1.5% @ 2781
Germany: currently +0.1% @ 9445
Have a good Thursday
8.14am.. sp -12pts... 1900. Market mood is being impacted by Oil, now -2.2%.