Daily Delphi

Post: Thursday - A day of skittishness. | Daily Delphi

BlogsPit Talk › Thursday - A day of skittishness. February 6, 2014, 6:50 am

6:30 AM CT
Challenger Job Cuts for Jan
Prior -5.9%
7:30 AM CT
Initial Claims for 02/01
Prior 348K Forecast 330K
Continuing Claims for 01/25
Prior 2991K Forecast 3000K
Trade Balance for Dec
Prior -34.3B Forecast -37.0B
Productivity - Prel for Q4
Prior 3.0% Forecast 2.5%
Unit Labor Costs for Q4
Prior -1.4% Forecast 0,0%
9:30 AM CT
Nat Gas Reserves for 02/01
Prior -230 bcf

Overnight Asian markets were mixed, European markets are trading up and US futures are trading higher. Today is the day before the jobs report. Normally that means an uneventful trade day but with Monday's selloff only a few days behind us traders are going to remain skittish. We'll see a second and third report on employment in front of tomorrow's data. We'll also get a preliminary look at productivity for Q4. Trade wisely.

Yesterday was another day in paradise. Early on the equities gave up ground caused by pressure from strength in the Japanese yen. Yen strength has been a burden on the equities this year as traders who borrow in yen to fund their equity positions have been getting hit on both sides of the trade. Higher borrowing costs and lower or losing equity returns. Both the Nasdaq and S&P ended lower on the day. The Dow Jones Industrial Average ended flat but was unable to settle above its 200 day moving average for the second straight day.

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