Good morning. Happy Thursday.
The Asian/Pacific markets closed mostly up. India, Malaysia and Japan led the way. Europe currently leads to the upside, but other than Greece being up 1.4%, there are no standout performers. Futures here in the States point towards a moderate gap up open for the cash market.
The dollar is down. Oil and copper are up. Gold and silver are up.
Below is the most amazing picture you will see from last night’s debate. It’s I25 at rush hour. Normally it would be packed because it’s the major highway that runs north-south through Denver, but yesterday it was closed. How many people and businesses were negatively impacted or inconvenienced? The debates should be held in the middle of Wyoming.
The ECB and Bank of England kept their interest rates unchanged.
Spain sold 3- and 5-year bonds. The yield on the 3-years inched up while it dropped on the 5-year. Demand was very good.
INFA is down 18% before the open
GLUU is up 8%.
VRNG is up 9% on top of a 39% gain yesterday.
CLRX is up 71%.
TGT is up 2.4% – same store sales climbed.
LTD beat same-store sales expectations.
M same-store sales came in under than expected.
WAGE is selling 6M shares in a secondary offering at a 4.1% discount to yesterday’s close.
CATO forecasted Q3 results at the low end of prior guidance.
ISCA has posted a Q3 loss.
NUVA is down 30% – they revised it revenue outlook for Q3 down.
FOMC minutes will be released today. These may be important. After all, it was at the last meeting the Fed decided to to QE unlimited.
Heading into this week the intermediate term trend was up and in good shape, but the near term was neutral and unclear. After three days of trading, the situation hasn’t changed much. The S&P has rallied every day this week, but the intraday performances have not been convincing. In the near term, be conservative.
headlines at Yahoo Finance
headlines at MarketWatch
today’s upgrades/downgrades
this week’s Earnings
this week’s Economic Numbers
0 thoughts on “Before the Open (Oct 4)”
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cool picture. Actually thought it was the line to buy obama bumper stickers after the debate.
The ECB did more brave talk, but pointed out that it can not solve the EMU problems. So we are back to politicians and their activity. The debate showed it is a horse race with the economy in the balance. Overall the futures are up for some reason. My view is extreme caution since the last two years of gains are not based on economic performance, but speculation. What to do. Participate at the extent your have risk capital. Me? Very little and very choosy.