sp'daily5
Summary
*ECB press conf' with Draghi is around 8.30am EST. Market will be looking to the press conf' more than the earlier announcement for 'inspiration'.
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Corp' earnings continue to come in... and so far this morning... they are reasonable, but many companies are still missing on revenue.
A break into the sp'2040s will be important, whether late today or tomorrow, makes no difference.
For now... there seems little chance of sustained/significant downside until after the next FOMC.
early movers.. (all earnings related)
MCD +6%
AXP -4%
CAT -1.6%
EBAY +6.8%.... now having to cope without paypal.
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Update from a particularly loud Oscar
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Overnight Asia action
Japan: increasingly weak into the close, settling -0.6% @ 18435
China: rebounding, settling +1.4% @ 3368. A weekly close in the 3400s is rather important.. otherwise the brief foray >3400 will count as a FAIL at resistance.
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Have a good Thursday
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8.33am... Draghi begins... and the market reacts.
Euro drops... USD +0.4% in the DXY 95.50s.
sp +5pts.... clearly nothing significant... so far.
Oil holding sig' gains of 1.7%.. despite the jump in the USD.