Weekly jobless claims came in 340k vs 355k expected while the productivity of U.S. workers fell in the fourth quarter by the most in four years, while labor expenses accelerated. Subscribe to the TFP Insider
5 min ES
Due to the positive jobless figure the S&P 500 futures got a bit of a boost at the 8:30 am ET level of 1539 into 1542. Thus over 1542.25 we could easily swing up into 1545 highs from yesterday though a growing trade deficit is working to cancel out the positive job print.
On the downside in the ES 1537.75 is the line in sane before we run into 1535 under = 1530/1527.50. Upside over 1545 = 1550.
5 min ZB
As of this writing the 30 year bond future has taken out weekly lows of 142’26 to trade into 142’07 following the job print, the dollar rallied into 82.58 though failed back to 82.375 with sell stops accumulating under 82.29.
Nasdaq futures held 2790 to trade 2595 with 2800 being resistance into the open. A break over 2800 or break under 2790 should dictate your next move in the NQ.
5 min NQ
IF the bonds and dollar can ease off today the equity side of things will probably remain moderately bid throughout the morning.
Crude futures are higher to 90.78 up from a low just under 90.25 making 90.89 resistance to watch for buy stops over into 91, under 90.19 its back to 90 very quickly.
5 min CL
Gold futures are higher by 8 points to 1583.20 with resistance at 1585 to watch for buy stops over into 1590-1600. I would not want to be long under 1577 if trading intra-day as 1575-70 could come up fast.
As of this writing copper futures have broken the 3.51 level to trade into 3.5155 up 0.62% following the jobs print. 3.52 is resistance and 3.49 is support, a break over or under will provide a nice scalp opportunity.
Shares of GOOG are slightly higher to 835.04 up from a 831.38 close Wednesday. Support remains at the 830 level with sell stop lurking under this level into 820. I 830 can hold off open GOOG has a good chance of swinging back up into 844 higher from Wednesday.
Apple shares are unchanged but look constructive over 425 with a stop at 423 and target of 430-433 off open.
Shares of NFLX are heavy under the 180 level with a target of 175 if 178 fails off the open. NFLX reversal point is 183.50 for a move back to 185+.
Emerging market etf EDC is higher to 103.21 in the pre-market with 103.55 being the high from yesterday to watch for buy stops over into 104.