Good morning. Futures are moderately lower, sp -5pts, we're set to open around 1839. Metals are sharply higher, Gold +$17, with Silver +1.9% - the lower USD, -0.4%, is no doubt helping. Baring a break <1815 in the days ahead, equity bulls have little to be concerned of.
*weekly jobless claims: 326k. All things considered, I guess you could argue it is a reasonable number, although 'real net monthly' job growth pretty much is barely able to offset the underlying population increase.
So, we're likely to open a little lower, as has often been the case lately, but you know a latter day recovery is coming...right?
Notable early movers: NFLX, +17% @ $392, EBAY, +1.7% @ $55 - but well below the 10% gains in AH.
8.55am.. market snaps a little lower,... sp-11pts, we're set to open in @ 1833
A fair few movers... FB -2.3%... UAL -3.8%, although the latter is still hugely higher (around 25%) on the month.
9.19am... metals look kinda strong, but remain under old broken support. Gold is still 10/15$ below the key level.
*I don't normally mention it (if ever), DGAZ -10% in pre-market. A 3x lev' ETF, so..nat' gas prices must be around 3.5% lower or so.
Considering the daily/hourly charts, this is probably a washout move, sig' chance of an intraday reversal here.