Good morning. Futures are slightly higher, sp +2pts, we're set to open around 1875. Metals are a touch higher, whilst Oil is moderately lower, -0.4%. Equity bulls look set for another set of new index highs, with the Dow/Trans to follow.
*ADP: 139k net gains, vs 160k expected. So..its a miss, but the number is still arguably 'reasonable', and should be enough for the market to cope with.
So..we look set to break index highs this morning, and the 1880s are well within range today.
With sig QE-pomo, the bulls should be fine today. The only minor excuse for a late sell down is if market does not like the Fed beige book.
Regardless, we're broadly continuing higher, and I expect that to continue all the way into the next FOMC of March'19.
T-10 days to go.
Notable early mover: DRYS +3.6% @ $4.02. The break over the $4 threshold is pretty significant, and does open up the 5s within the immediate term. Whether we can close the week in the 4s will be very important.