{"id":6037,"date":"2012-10-05T07:45:49","date_gmt":"2012-10-05T12:45:49","guid":{"rendered":"http:\/\/leavittbrothers.com\/blog\/?p=6037"},"modified":"2012-10-05T07:45:49","modified_gmt":"2012-10-05T12:45:49","slug":"before-the-open-oct-5-4","status":"publish","type":"post","link":"https:\/\/blog.leavittbrothers.com\/?p=6037","title":{"rendered":"Before the Open (Oct 5)"},"content":{"rendered":"

Good morning. Happy Friday. Happy Employment Numbers Day.<\/span>
\nThe Asian\/Pacific markets closed mostly up. Australia, Indonesia and Singapore did well. Europe is currently up across the board. Greece is up 5.1%; France, Austria, Amsterdam, Norway, Stockholm and the Czech Republic are doing well. Before the latest jobs data was released, futures here in the States pointed towards an up open for the cash market.
\n<\/span>
\nThe dollar is flat. Oil and copper are down. Gold and silver are down slightly.<\/span>
\nHere are the numbers\u2026<\/span>
\nunemployment rate: 7.8% (it was 8.1% last month)
\nnonfarm payrolls: up 114K (110K was expected)
\nprivate payrolls: (I will post these when I get the number)
\naverage workweek: 34.5 hours (up 0.1 hours)
\nhourly earnings: $23.58 (up 7 cents)<\/span><\/span><\/span><\/span><\/span>
\nAlso, the July and August numbers were revised up. <\/span>
\nOn the news, index futures jumped…but it’s not entirely clear why. Good employment numbers are good by themselves. They also help Obama get re-elected. Bad numbers would be bad by themselves, but they’d help Romney get elected. Is Wall St. cheering the data or the prospects of Obama serving four more years? <\/span>
\nFrom a trading standpoint, it probably doesn’t matter. The intermediate term trend is up; the near term is still cloudy, but it has improved this week.<\/span>
\nIndia’s market experienced a flash crash today. At one point it was down 15.5%, but it ended the day only down 0.7%.<\/span>
\nZNGA cut their earnings forecast for the rest of the year. The stock is down almost 22% before the open.<\/span>
\nAnalysts are cutting guidance for FB because they get a good chunk of their revenue from Zynga. FB is down 2.6%.<\/span>
\nCW cut its 2012 profit guidance. The stock is down 3.6%.<\/span>
\nCTIC is down 28.4%.<\/span>
\nSTZ is out with earnings…the stock is up 0.5% in premarket trading.<\/span>
\nCACH forecast a wider loss and lower sales for Q3. The stock is down 15.4%.<\/span>
\nDTLK lowered Q3 forecast. The stock is down 16%.<\/span>
\nThe S&P has posted a gain each day this week and is up nicely on the week. But the number of set ups which look ripe for trading is low. We have a few good one but not as many as we typically have when the market is strong. I’m in the market and long, but I’m playing it safe. More after the open.<\/span>
\nheadlines at Yahoo Finance<\/a><\/span>
\nheadlines at MarketWatch<\/a><\/span>
\ntoday’s upgrades\/downgrades<\/a><\/span>
\nthis week’s Earnings<\/a><\/span>
\nthis week’s Economic Numbers<\/a><\/span>
\n