Nonfarm payrolls came in at 0.4% MoM (4.0% YoY) beating estimates of 0.3%. The unemployment rate increased from 4.1% to 4.2% despite the Americans thrown out of work by the hurricane or strikes returning to work. Though the results might muddy the case for a Fed rate cut in December, there was no mistaking the … continue reading →
Futures are again flat after initial claims exceeded expectations, another data point for the FOMC to consider with respect to their Dec 18 rate decision. continued for members… … continue reading →
Yesterday’s potential currency emergency fizzled after South Korea President Yoon Suk Yeol’s declaration of martial law was struck down by legislators who are expected to impeach the president today. The USDJPY, which had initially dropped through support, rebounded nicely, pushing the Nikkei up through 200-day resistance… …and enabling VIX’s continued meltdown. continued for members… … continue reading →
Futures are flat on another quiet day that probably won’t remain so quiet. continued for members… … continue reading →
Futures are flat as we enter the final month of a pretty solid year. Questions remain, however, regarding the economy’s ability to withstand the coming policy changes. continued for members… … continue reading →
Happy Thanksgiving to all our friends and family! … continue reading →
The 10Y broke back into the channel it broke out of several weeks ago, primarily on the enthusiasm around the treasury secretary designate – a hedge fund manager – will keep the plates spinning for another 4 years. Whether or not he will is another matter. But, for now, the algos believe it and the … continue reading →
Despite plenty of bombshell news, ES has spent an entire week wedged in between its 10- and 20-day moving averages. With the USD spiking higher and VIX getting the bounce we anticipated, can it break back above its IH&S target? continued for members… … continue reading →
At 213K, initial claims came in slightly below both the prior print and expectations. Futures rose slightly on the news, adding to their overnight meltup. But, the more important print seems to be that of NVDA, which has again pushed above its Jun 2024 highs. continued for members… … continue reading →
Futures are up slightly following yesterday’s selloff algofest which celebrated increased risk of nuclear weapons being used in Europe. continued for members… … continue reading →