Thursday, 22 October 2015

Pre-Market Brief

Good morning. US equity futures are a little higher, sp +3pts, we're set to open at 2021. With the ECB leaving rates u/c, the USD is trading flat in the DXY 95.00s. Metals are flat. There is notable early strength in Oil, +1.3% in the $45s.



*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'.

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.
Update from a particularly loud Oscar


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.

Have a good Thursday

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.