Futures reverse to session high


After a knee-jerk dive lower on the disappointing jobs print, S&P 500 (SPY) futures are at session highs minutes before the opening bell, +0.6%. Nasdaq 100 (QQQ+0.7%.

Also reversing are Treasury prices, which shot higher on the soft number, but have now give up most of those gains. The 10-year Treasury yield is off just one basis point to 2.69%.

One more reversal: Gold popped all the way to $1,271 per ounce, but has backed off to just barely up on the session at $1,260.

The dollar, however, continues lower on the session, UUP -0.3% premarket.

Index ETFs: SPY, QQQ, SH, DIA, SSO, SDS, PSQ, IVV, SPXU, UPRO, VOO, TQQQ, QID, RSP, DOG, SQQQ, DXD, QLD, RWL, EPS, UDOW, SDOW, DDM, BXUB, QQEW, QQQE, TRND, SFLA, BXUC, QQXT, BXDB, TNDQ

Gold ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GLL, DZZ, UGLD, DGL, DGZ, AGOL, GLDI, DGLD, TBAR, UBG

Dollar ETFs: UUP, UDN, DBV, FORX, UDNT, UUPT, USDU

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Comments (3)
  • NadgesNokindo
    , contributor
    Comments (45) | Send Message
     
    Yeah, makes perfect sense.

     

    Not easy investing when every market is rigged, however, as long as QE is around...stay long.
    7 Feb 2014, 09:53 AM Reply Like
  • james.
    , contributor
    Comments (1310) | Send Message
     
    In light of today's 2nd consecutive disappointing Jobs Report, the new FRB Chairperson will likely take a second look at the recent declines in QE3 monthly U.S. Bond Purchases which were based on the erroneous assumption of a rising U.S. Jobs Market and attendant Demand-Pull Inflation; Ms. Yellen will likely side with the President of the Federal Reserve Bank of Minneapolis who immediately prior to the Jan 2014 FRB Meeting did advocate an increase in QE3 at the town-hall-meeting at his own Bank, contrary to the FRB published report of a UNANIMOUS DECISION ! Ms. Yellen's Feb 11 Congressional Testimony now takes on added significance ! Feb 7, 2014.
    7 Feb 2014, 10:13 AM Reply Like
  • filipo
    , contributor
    Comments (4635) | Send Message
     
    james,
    Indeed..
    7 Feb 2014, 12:54 PM Reply Like
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