Posted on 09/03/2015 4:36:49 AM PDT by expat_panama
U.S. stock futures were comfortably in positive territory Thursday ahead of U.S. jobless claims data, as well as the latest policy decision from the European Central Bank.
The early move follows an upbeat session in Asia, where the volatile Chinese markets are closed for two days.
Futures for the Dow Jones Industrial Average YMU5, +0.24% climbed 67 points, or 0.4%, to 16,397, while those for the S&P 500 index ESU5, +0.20% added 7.15 points, or 0.4%, to 1,954.25. Futures for the Nasdaq 100 index NQU5, +0.21% gained 24 points, or 0.6%, to 4,284.
The indicated advances come after all three benchmarks closed Wednesday firmly higher, after the Federal Reserves Beige Book painted a more optimistic economic picture of the U.S. economy than analysts had feared. The report soothed worries about the possible impact of the slowdown in China, which has taken a toll on markets in recent weeks.
Treasury Secretary Jacob Lew said in a CNBC interview aired Thursday morning that he is keeping a careful eye on market volatility and looking at any related risk to the U.S. economy.
On Thursday, stock markets in the worlds second-largest economy were closed for Chinas World War II victory day parade, providing much desired respite from the economy and market that has been at the heart of the elevated global volatility of late, said analysts at Accendo Markets in a note.
Hopes [are] also rising that ECB President Draghi may signal QE extension, they added.
The ECB is scheduled to announce its latest interest rate decision at 1:45 p.m. in Frankfurt, or 7:45 a.m. Eastern Time, with Mario Draghis news conference following at 8:30 a.m. Eastern. With a weaker inflation outlook and a stronger euro, speculation has risen that the central-bank boss will indicate the ECB is ready to pull the trigger...
(Excerpt) Read more at marketwatch.com ...
The big crash comes on September 13/14.
Of what value are these fictitious numbers to the Stock Market?
Happy Claims day everyone! Looking good after yesterday's solid 2% stock index gains (well, in shrinking trade) along w/ continuing sideways metals prices. Right now @ an hour and a half before opening futures see stock indexes + 0.16% and metals +0.40%. Complete announcement docket:
7:30 AM Challenger Job Cuts
8:30 AM Initial Claims
8:30 AM Continuing Claims
8:30 AM Trade Balance
10:00 AM ISM Services
10:30 AM Natural Gas Inventories
--and we also can hang around these new threads:
>> after the Federal Reserves Beige Book painted a more optimistic economic picture of the U.S. economy
I’d prefer they stop painting art and do more hard science, but what do I know.
thot that was supposed to happen on 9/11...
Zactly. Last week’s fall was too early. It will bounce around and maybe even go up a bit before that.
Jeff Berwick-Nothing but Black Swans Ahead
https://www.youtube.com/watch?v=9DT4qrrRe7Q
We need to read what the Fed says and forget about what other say the Fed says. Here's yesterday's beige book. It says:
Wages were relatively stable in most Districts, with slight to moderate increases since the last report. However, several Districts reported increasing wage pressures caused by labor market tightening. St. Louis reported almost three-fifths of responding firms had raised wages in the last three months. New York cited increased pressure on starting salaries, while Cleveland noted intensifying wage pressure in the construction, retail, and transportation sectors. San Francisco reported upward wage pressures for skilled workers in the IT, information security, and construction sectors. In the Kansas City District, wage growth slowed in many sectors despite selected labor shortages. Dallas noted flat wages, but also wage pressures for some specialty skills.
Both input and output prices remained stable in most Districts. The Boston, New York, Philadelphia, Cleveland, Atlanta, Chicago, St. Louis, Minneapolis, Dallas, and San rancisco Districts all reported that prices were mostly flat or had increased only slightly. In Richmond, retail and finished goods prices accelerated slightly, while in Kansas City prices were mixed, with retail input and output prices increasing at a modest pace while manufacturing and crop prices decreased moderately.
Labor market's not 'tight' enough to lift wages and econ activity isn't growing enough to cause inflation. Those are the facts, although the Fed may raise rates anyway.
Doesn't matter if you and I like the numbers, what matters is if other folks believe them and then decide that our investments are not longer worth buying from us.
Google “shemitah”. Or if you’re pressed for time, here is one link more or less at random:
http://theeconomiccollapseblog.com/archives/tag/the-shemitah-year
Those who believe in a Shemitah-related financial correction are looking to 9/13.
I’m keeping an open mind (and a balanced financial position).
>> We need to read what the Fed says and forget about what other say the Fed says.
Point taken.
Still must retest the recent lows of last week.
“We need to read what the Fed says and forget about what other say the Fed says.”
That’s just crazy talk. What are pundits for? You’re talking about the total collapse of hyperbole.
You may as well just read the Brothers Grimm, their fairy tales are more entertaining.
--as read which, futures? claims? ECB mtg? Marketwatch?
Yeah, I was reading somewhere that someday it was going to swallow the entire universe if we didn't raise taxes on the rich.
No. Median wage has gone down along with purchasing power. Citing niche areas where wages have increased a penny is fairy tale stuff.
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