sp'60min
Summary
So, we're set to open in yesterday's gap zone of 2063/60. Further upside much beyond 2070 looks unlikely.
Equity bears should be aiming for a flat close, with a break lower tomorrow, at least into the 2030s.
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early movers....
TSLA +4% @ $231, post earnings
CHK +7.... junk rebounding
FCX +3% .. as above
SDRL +5% ""
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Overnight action
Japan: CLOSED
China: +0.2% @ 2997
Germany: currently +0.1% @ 9838.
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Have a good Thursday
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8.44am jobless claims, 274k.... a little higher... but still.... remaining very low. Those calling for an outright recession are going to need to see 350/400k.
re: Friday monthly jobs. Market is seeking net gains of 200k.. with a headline rate a touch lower @ 4.9%. That does not seem overly optimistic... and will likely be attained.
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notable weakness: DB, -2.0%... as financials continue to remain under pressure as threat of Draghi lowering rates again.
Its somewhat ironic that at least the market seems to accept that low/negative rates are bad for the financials.. the very sector that almost took down the system in 2008.