Good morning. Happy Friday.
The Asian/Pacific markets closed mixed and without any standout winners or losers. Europe is currently down across the board – there are a couple 1% losers. Futures here in the States were up as of 4:55 am this morning and then sold off hard. As of the release of the employment numbers, they were pointing towards a moderate gap down for the cash market.
Here are the employment numbers:
unemployment rate: 9.7%
nonfarm payrolls: up 431,000 but 411,00 of those were census workers
Futures sold off hard after the numbers hit the wires.
For the first time since the end of April we got some a second consecutive up day yesterday, but volume was very light.
If the market closes flat today, it’ll be the best week since mid April, but it’ll also be the lightest volume week since April too.
The intermediate term trend is down, and the market is moving up on light volume – not necessarily a characteristic that makes we want to aggressively get long. More after the open.
headlines at Yahoo Finance
today’s upgrades/downgrades
this week’s Earnings Reports
this week’s Economic Numbers
0 thoughts on “Before the Open (Jun 4)”
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… and what would make you get aggressively long? Personally, I don’t see that happening for at least a year and a half.
You are right…it won’t happen again until the market tanks and turns up. Even if a new uptrend started now, I’d play it conservatively.