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Thursday, September 04, 2008
Lots Of Data
Good morning. Traders are keeping busy by sorting through some sluggish back-to-school sales and a lot of economic data while oil prices attempt to rally. Both the Bank of England and the European Central Bank kept interest rates the same.
Premarket gainers: NAV, SOLR, CRMT, CLNE, CBAK, UN, HAYZ, ZUMZ, NCOC, MR, VSE, MDVN, NBIX, URRE, SAI, STP, RDN, RTP, CAPA, & WMT.
Premarket losers: CIEN, GHM, OSUR, SHPGY, TEX, ANF, ZNH, DLX, LAZ, NDAQ, UAUA, NWA, TPP, RBS, MTW, VE, JNPR, ASML, MRVL, & AMR.
After the open, we have the ISM non-manufacturing index and this afternoon some Fedspeak from both Richard Fisher and Janet Yellen. Obviously, tomorrow's jobs report will be as important as usual and traders will use today to position ahead of that report. The consensus is for a loss of up to 85,000 jobs and a 0.1% increase in the unemployment rate to 5.8%.
Premarket futures suggest a slow to negative start to the day but as we've seen this week, they haven't been a particularly useful tell. Look for the market to establish some direction after the ISM. Have a terrific Thursday!
Posted by Kirk at 9:00 AM in Premarket | Bookmark | Feeds | Link |
