Good morning. US equity futures are a little higher, sp +4pts, we're set to open at 2092. USD is +0.2% in the DXY 100.00s. Metals are naturally weak, Gold -$8. Oil is -1.8% in the $42s.
*market closes today at 1pm.
There is threat of downside to the sp'2085/80 zone this morning... but regardless we're still broadly headed higher.
notable early movers...
DIS -2% in the $116s, on ESPN subscriber problems
Oil/gas drillers, RIG -0.9%, SDRL -3.1%.. as Oil is again weak
This is the stock that wrecked trader JC. I'd not looked at it in a week, and it seems it exploded again... from 14 to the $40s. Insane short-squeeze.
Overnight Asia action
Japan: subdued, -0.3%. Still not able to re-take the 20K threshold.
China: quiet open... but then a MASSIVE upset as China goes after brokerages... -5.5% @ 3436. This is a seriously bad end to the week.. and with one day left of the trading month... the November close will not be bullish.
What am I planning today?
I've eyes on a few things... but might sit it out until after the weekend. Certainly though... I will NOT short anything... least of all the main indexes.
Have a good Friday.
8.11am.. Gold breaks a new multi-year low... -$12 @ 1058.. as the short term long-stops are taken out. Next support is clearly the giant psy' level of $1000
the related miners are naturally being dragged lower, GDX -1.3%
8.20am.. Gold -$15 @ $1054.... what a truly lousy post-thanksgiving return to the market for the gold bugs.