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Post: Happy Friday 'Day 11' | Daily Delphi

BlogsPit Talk › Happy Friday 'Day 11' October 11, 2013, 6:50 am

THURSDAY RECAP
Thursday saw the equities up across the board. The kids seem to realize that brinksmanship is only worthwhile until you get close to the brink. The S&P settled up +36.2 on strong volume at 1685.00. Oil caught some wind mid session on the sweet talk form Washington and turmoil in Libya. Nov crude settled up +1.40 at 103.01. Lastly, gold stayed under pressure with a flight to safety liquidation settling down -10.3.

TODAY'S ACTION
7:30 AM CT
Retail Sales Forecast -.1% Prior .2%
PPI Forecast .2% Prior .3%
8:55 AM CT
Michigan Sentiment Forecast 73.0 Prior 77.5
9:00AM CT
Business Inventories Forecast .2% Prior .4%
Lots of data to look at today. After yesterday's rally traders may be quick to book profits but if the numbers look good and the kids keep playing nice - everybody loves a rally. Markets are looking for a drop in Retail Sales and Sentiment caused by all the rhetoric in the lead up to the shutdown showdown. With Big Daddy out of the picture any news that isn't bad will be good. Trade strong.


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