sp'60min
Summary
*Oil is +1.6% in early trading, as the API report suggested a net weekly draw for the EIA report (due 10.30am).
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Santa is just two days away, and Mr Market is behaving itself rather well. We're seeing things continue to claw higher... even a little faster than I expected.
So, now its a case of whether we can break >2061 before the Thursday close (1pm). If Oil can build more momentum... then its very possible.
More than anything though, it remains a case of, do you really want to be short ahead of Santa?
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early movers...
NKE: +2.7%, post earnings joy
MU -7.3%, post earnings depression
SDRL +7.2%.. as Oil looks set for a third daily gain
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Econ chatter, Mr Long with Rubino
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Doomer chat, Hunter with Mannerino
As ever.. make of that.. what you will. I sure don't agree with a fair amount of what Mr Man' says.
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The sun is shining in London city for what seems like the first time in months, and that is something to be very bullish about.
Have a good Wednesday
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8.31am Durable goods orders: m/m, 0.0%. Not great. The last few months of data sure doesn't bode well for Q4 GDP data... due late Jan'
Equities holding gains, sp +12pts... 2050