Friday, 9 October 2015

Pre-Market Brief

Good morning. Equity futures are moderately higher, sp +4pts, we're set to open at 2017. With the USD -0.5% in the DXY 94.80s, commodities are on the rise.... Gold +$14, Oil +2.0%... above the key $50 threshold - next target is 55/57.




*all US indexes are set for the second consecutive significant net weekly gain.

So.. we're set to open higher.. .and now its a case of whether we end the week a little above.. or a below the previous FOMC (Sept 17th)  high of sp'2020. In many ways... it doesn't much matter.. as we're still set for powerful net weekly gains of 3% or so.

Broadly.. the market looks on track for the 2040/60 zone.. and as I shall keep droning on about, the ultimate issue is whether that will result in a critical FAIL. 

notable early movers

AA, -2.4% @ $10.75... after a very bad earnings outcome.
GDX +3.3%... as the metals start to fly.
TSLA -3.6%... a rough week for that one.

Overnight Asia action..

Japan:  +1.6% @ 18438.
China: +1.3% @ 3183... the 3200/300s look due next week.

Have a good Friday