sp'weekly
USO'60min
Summary
*awaiting Durable Goods orders (due 8.30am)
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So... we're set to open a touch higher. Certainly.. a weekly close in the in the 2120s is very possible.. if not likely.
Overall, market looks set for sig' net weekly gains of around 1.5-2.0% for most indexes... as lead by the Nasdaq comp.
re: Oil. I remain long - via USO, am seeking the $21s.. with WTIC in the low $60s within the next few weeks.
**It is highly notable that in overnight trading, the USD cooled to DXY 96.90, which is an absolutely clear break of rising trend from last May. Regardless of the exact weekly close, USD is in the process of retracing.
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Early movers...
AMZN +12% @ $439... having swung wildy in Thursday AH from 390 to 420, then 371... and now at new highs. Absolutely incredible, and a gross mis-pricing... having yet another earnings loss of -12 cents. Just consider that AMZN has sales of over $60bn...and still can't make a profit.
GOOG +3.7%, on reasonable earnings
MSFT +4.4% on good earnings
SBUX +4.2% on good earnings
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The point remains, earnings for Q4 have come in 'reasonable'.. hence there is simply no reason why the market can't just continue to battle higher. The fact many companies are buying back their own stock only makes things that bit extra bullish.
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End week doom chatter from Hunter
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Have a good Friday.
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8.32am. Durable goods orders... 4.0%.. much better than expected. However, ex-transports, -0.2%.. not so good.