Thursday, 31 May 2012

Pre-Market Brief - Weak Economic Data

Futures have lost their 0.25/0.5% gains...we're now flirting with minor red/flat. All the econ-data today was weak. There was no recovery..there will be NO recovery.

Weekly jobs: 383k - lousy
GDP (Q1, revised): 1.9 (2,2 first 'guess') - WEAK
ADP jobs: 133k (private sector) - not exactly green shoots of recovery

*Chicago PMI at 9.45am...which will be a market mover.



With the lousy econ-data just released, it will be important for the bears to capitalise on yesterdays swift move lower, and at least close today moderately red.

Good wishes for Thursday trading!