Archive for the ‘Morning Briefing’ Category
Squawk Morning Briefing: AA Sells on Slight Beat
AA reported a slight earnings beat yesterday and sold in after hours trading on the news. As we’ve said, the reaction is more important than the news itself. However, the overall reaction in the futures has been positive with equity futures receiving quite a boost. Meanwhile, the Japanese government has stepped up to the plate […]
Squawk Morning Briefing: Earnings Season Begins
Friday’s BLS report seems to have been a mixed bag. A sizable number of new jobs were created, but perhaps not quite as many as optimistic traders were anticipating given the much more bullish ADP report from Wednesday. Most of the job growth came from service jobs in areas such as hospitality. These can be […]
Squawk Morning Briefing: Jobs Should Set the Tone
Today we won’t have much general commentary and we’ll get right to our briefings on markets below. The BLS report is out at 8:30 and that should be the big mover — not so much the report itself, but the reaction to it. Look to both the futures reaction at the time and the cash […]
Squawk Morning Briefing: Plenty of News to Digest
Wednesday’s surprisingly bullish ADP numbers seemed to be a follow-on to last weeks surprise improvement in Jobless claims. While this week’s data showed an increase in claims and last week’s figures were revised up slightly, it’s unclear that they support the job strength hinted at by ADP numbers. So with this week’s figures roughly in-line […]
Sqawk Morning Briefing: ADP Moves Pre-Market
A much higher than expected ADP report has moved markets this morning and has erased much of the losses seen by equity futures. While the report came out after our videos were already recorded, we had already tempered our bearish enthusiasm and presented the case that markets need to prove themselves in either direction. That […]
Squawk Morning Briefing: New Year Fireworks
New Year’s Eve has many traditions: fireworks, the ball dropping in Times Square, and more. Our first trading day of the year saw some fireworks and no signs yet of anything dropping. So we’re still waiting to see if the bulls will fumble the ball. Until they do, they’re still in control. Today we’re […]
Squawk Morning Briefing: Markets Still Partying Into 2011
Morning equity futures are telling us that we’re not ready to go down quite yet. This is consistent with action on Friday that had prices turn upward prior to taking out our confirmation levels and provided a possible early warning. Short-term, our confirmation levels remain the same but our wave counts have now been updated […]
Squawk Morning Briefing: Big Hangover for 2011?
People don’t feel like they’re buying the high, even when they are. It’s much the same as that bottle of cognac that follows the champagne on New Year’s Eve; it doesn’t feel like too much at the time. Either way, the communal joy eventually turns to misery, at least for a time. We have no […]
Squawk Morning Briefing: Ring Out The New (High)
For those of us counting Elliott waves it seems that 2010 has been the year of “one more new high” where the continued advance has always seemed like an additional push higher was needed to complete the wave count before a turn. We are at the point where a few additional pushes higher would fit, […]
Squawk Morning Briefing: When Analysts Say “I Don’t Know”
The Dow Industrials and their futures continue to mike a series of very modes new highs. We suggested this was the most likely course, and it looks like the series of modest new highs is not yet over and we lay out the case for this in our detailed briefing on the DJIA and […]