Wish I had an option to trade in extended hours. Real easy money when you expect big reports/decisions at a set time/day like this one I wonder when Robinhood will offer Gold membership letting extended hours trading to all its members.
so nfp's miss = no hike for sure this month? (fwiw- i was never even in the "hike" camp at this month's meeting even if we saw a stronger headline nfp # this morning) question i have is does this keep equity markets here back in the narrow tight trading range again? i was actually kinda hoping i was going to be wrong on the NFP poll prediction thread and that we saw another 250k+ print so that we could get out of this ridiculous chop fest already ... albeit i don't know if we would have seen too much of a big size move today given that most traders are probably either off or taking the off earlier than usual ahead of this long 3-day weekend coming up at any rate, here we are sitting at 2170ish on the /ES once more ... *ahem* that said, we are seeing some nice moves in commodities, pm's, treasuries, and currencies though
Good morning Stockaholics! Happy Jobs Friday! Frontrunning: September 2 Donald Trump Revised Immigration Speech After Mexican Leader’s Tweet (WSJ) Hillary Clinton Raised $143 Million in August for Democrats and Her Campaign (NYT) Putin says he doesn't know who hacked U.S. Democratic Party (Reuters) Samsung issues recall for Galaxy Note 7 after battery fires (Reuters) Putin Joins "OPEC Headline" Fray, Pushes For Oil Production Freeze, Iran Exemption (ZH) Clinton announces plan to address 'unjustified' price hikes on life-saving drugs (Reuters) How $1 Billion Made Its Way to the Malaysian Prime Minister (WSJ) Behind China’s Anbang: Empty Offices and Obscure Names (NYT) A Chinese Mystery: Who Owns a Firm on a Global Shopping Spree? (NYT) Life Insurance Customers Push Back Over Surprise Cost Increases (WSJ) Uzbek President Karimov has died (Reuters) Putin Blasts Trump and Clinton for ‘Shock’ Campaign Tactics (BBG) China Opens Antitrust Investigation of Didi-Uber Deal (WSJ) Another Sign Manhattan Real Estate Is Feeling the Pain (BBG) Full Employment Without Wage Jump Tests Fed Pining for Inflation (BBG) When a Commercial Rocket Blows Up, Who Pays? (BBG) STOCK FUTURES NOW: TODAY'S ECONOMIC CALENDAR: MOST ACTIVE PRE-MARKET DISCUSSIONS (SYMBOLS ARE CLICKABLE!): NUGT JNUG SPY GDX SWHC JDST GLD LULU AG BAC ABX DUST TSLA AMBA PAY TLT OIL UWTI AVGO GOLD USO GDXJ YUM UUP THIS MORNING'S EARLY NEWS MOVERS: Lululemon — The yogawear maker reported adjusted quarterly profit of 38 cents per share, 1 cent a share above estimates. Revenue was in line, but investors are focusing on weaker than expected guidance, putting extreme pressure on Lululemon shares. Yum Brands — Yum sold a $460 million stake in its China unit to a consortium consisting of a China investment firm and a unit of online retail giant Alibaba. The unit is in the process of being spun off from Yum, with plans for the newly separate company to trade on the New York Stock Exchange as of November 1. AbbVie — Raymond James began coverage on the drugmaker with an "outperform" rating, citing valuation and an under-appreciation of the revenue potential of AbbVie's Humira drug. Broadcom — Broadcom earned an adjusted $2.89 per share for its latest quarter, 12 cents a share above estimates. Revenue was slightly above forecasts. The chipmaker also predicted current-quarter revenue slightly above consensus. Smith & Wesson — The company came in 9 cents a share above consensus, with adjusted quarterly profit of 62 cents per share. The gunmaker's revenue was also above estimates. The company also gave strong guidance for both the current quarter and full year. Ambarella — Ambarella posted adjusted quarterly profit of 54 cents per share, 16 cents a share above estimates. The maker of image processing chips also saw revenue beat consensus. The shares remain under pressure, however, due to a series of quarterly losses by major customer GoPro. Gap — Gap reported a 3 percent drop in August same-store sales, a larger decline than the 1.9 percent Thomson Reuters consensus estimate. The biggest drop came at the apparel retailer's Banana Republic unit, which saw same-store sales fall by 10 percent. United Parcel Service — UPS announced a 4.9 percent average rate increase for its freight service, effective Sept. 19, and a similar increase for the company's other services which will go into effect on Dec. 26. McDonald's — The restaurant chain's plan to sell outlets in China and Hong Kong now has some more interested bidders, with The Wall Street Journal reporting private-equity firms Carlyle and TPG have joined separate consortiums to bid for those stores in a deal that could be worth up to $3 billion. Alphabet — The company's Google unit has suspended plans to build a modular smartphone with interchangeable components, according to a Reuters report. Harley-Davidson — Harley will cut about 200 jobs as the motorcycle maker adjusts its production schedule to account for a lower shipment forecast for 2016. Marriott — China regulators, who have now extended their examination of Marriott's deal to buy Starwood for a third time due to the complexity of the deal. The two companies have maintained that the transaction poses no anticompetitive issues in China. Viacom — Viacom's board has received various options for the sale of its Paramount Pictures unit from outgoing chairman Philippe Dauman, according to a Wall Street Journal report, although any deal for Paramount appears unlikely to happen any time soon. Dean Foods — Dean Foods named chief operating officer Ralph Scozzafava as its new chief executive officer, effective Jan. 1. He'll replace Gregg Tanner at the helm of the milk producer, with Tanner remaining as an adviser through May. Hewlett Packard Enterprise — The company is looking for a buyer for its software unit, according to The Wall Street Journal, in a deal that could be worth as much as $10 billion. Good trading day to everyone in here on this Friday!!
xbi bounced off the 50 dma again today, i would have played LABU, but i dont like to play too many things at one time.
^^ this! i was just fixing to post that right now just as you posted lol interesting ... dollar right back to pre-nfp level bonds (/zb /zn /zf /zt) on new lows... did some fed head make some comments? you woulda thought we had a blowout job # this morning by the way this is acting lol
as for the dollar it looks like its mostly yen driven which is interesting too ... the other pairs are mostly flat or up against the greenback
U.S. job growth remained steady in August, although employers pulled back slightly on hiring, U.S. job growth slowed in August, but hiring steady The U.S. economy added 151,000 jobs last month, the Labor Department said Friday. The unemployment rate remained unchanged at 4.9 percent. Analysts surveyed by data provider FactSet had forecasts that employers added 180,000 in August. Among major job sectors, employment in restaurants and bars showed the greatest payroll gains. Also showing growth were social services, financial services and health care, while the mining industry continued to shed jobs. “On the whole, this morning’s strong [August] employment report, despite the slower pace of job gains, indicates that labor market health remains intact and that therefore economic activity remains solid,” Barclays Research analysts said in a client note. http://www.cbsnews.com/news/employment-report-u-s-added-151k-jobs-in-august/
This should help rate hike decision U.S. factory orders post largest increase in nine months WASHINGTON, Sept 2 (Reuters) - New orders for U.S. factory goods recorded their largest increase in nine months in July as demand increased broadly, in a hopeful sign for the embattled manufacturing sector. The Commerce Department said on Friday that new orders for manufactured goods rebounded 1.9 percent after a downwardly revised 1.8 percent decrease in June. It was the biggest rise since October 2015 and followed two straight months of declines. Economists polled by Reuters had forecast factory orders rising 2.0 percent in July after a previously reported 1.5 percent decline in June. Merrill.com
so now that we got this big meaningless # out of the way i wonder if we're finally gonna get out of this august trading range on the indices? what's everyone thinking? obviously barring some kind of crazy black swan-ish type event, you guys thinking mostly chop into the sept 21 fomc meet?
i would be highly surprised if we chop through most of September. but i wouldnt mind either, TWLO seems to work well in this lol.
i'm not sure who requested the week ahead's ER calendar before the weekend but EW just published their calendar a day early so here you go... note: monday is a holiday here in the states and markets are closed for labor day... names reporting in the holiday-shortened week ahead: $KR $HPE $PLAY $MRVL $HQY $HDS $VAL $RH $BKS $HOFT $NX $MBUU $SAIC $FRAN (i'll have this re-posted to the new weekly thread later this evening, as well as this week's weekly stock contest thread...)
Not sure if the jobs report is weak enough to rule out a rate hike, the main reason for them not to hike this month would be the market is pricing in a hike in December rather than this month
