Good morning. US equity futures (ahead of the jobs data) are moderately lower, sp -7pts, we're set to open at 2052. USD remains weak, -0.1% in the DXY 94.40s. Oil is -1.5% in the $37s on Saudi chatter about 'no oil deal unless Iran also freezes'.
*awaiting the jobs data at 8.30am
The technical setup favours the equity bears today. Hourly charts offer sp'2040/35, with VIX 15s. Clearly, that is nothing particularly exciting, but its better than trading >2081.
The market is due a retrace, and today would make for a valid excuse, regardless of what the actual jobs number might turn out to be.
notable early mover: TSLA +6% @ $245.. as a new model is released.
Final update from Mr C.
Now here is a product I can issue a BUY recommendation on...
Bullish water. HBW is listed on the .GoT exchange in Iceland.
Japan: -3.5% @ 16164
China: latter day recovery (PBOC ?), +0.2% @ 3009
Germany: currently -2.0% @ 9766.... the 10K threshold is starting to fade away.
Have a good Friday.
8.31am. Net jobs gains: 215k, headline rate: 5.0%.
sp -5pts... 2053
Overall, the number could be considered 'goldilocks'... but the market chatter will likely increase about a rate hike... and that will be a downward pressure on equities.. at least in the short term.
8.52am.. sp -10pts.... 2049.
notable weakness... Gold -$12.... miners.. GDX -2.1%.
Hmm.... bearish start to the month :)
9.05am... sp -13pts... 2046... . oh noes..... is it time for QE4 yet?