Proprietary Trading Morning Market Update July 4 2013

Top Economic News:

European Stocks Advance as ECB Holds Interest Rates. European stocks rose, halting a two-day drop, as the European Central Bank held its main refinancing interest rate at a record low, and Portugal's political leaders sought to hold the coalition government together. U.S. index futures and Asian shares climbed.

Wall St. Posts modest gains in short volatile session. Stocks ended slightly higher in a volatile half-day session on Wednesday as traders squared positions before the holiday and Friday's job market data.

Pre-Market Activity:

$SPY -0.30%

$VXX +0.59%

$TLT +0.26%

$UUP -0.26%

$USO +2.10%

$UNG -1.19%

$GLD +0.74%

$SLV +2.10%

Early Movers:

$NDLS +4.24%

$ARMH +2.61%

$OSTK -4.19%

$AA -1.92%

$CS -2.98%

$ZNGA +3.06%

$TS -2.19%

Proprietary Trading Economic Calendar:

Date	Time (ET)	Statistic	For	Actual	Briefing Forecast	Market Expects	Prior	Revised From
5-Jul	8:30 AM	Initial Claims	29-Jun	-	345K	348K	346K	-
5-Jul	8:30 AM	Continuing Claims	15-Jun	-	2960K	2955K	2965K	-
5-Jul	8:30 AM	Nonfarm Payrolls	Jun	-	175K	166K	175K	-
5-Jul	8:30 AM	Nonfarm Private Payrolls	Jun	-	190K	180K	178K	-
5-Jul	8:30 AM	Unemployment Rate	Jun	-	7.60%	7.60%	7.60%	-
5-Jul	8:30 AM	Hourly Earnings	Jun	-	0.20%	0.20%	0.00%	-
5-Jul	8:30 AM	Average Workweek	Jun	-	34.5	34.5	34.5	-
5-Jul	10:30 AM	Natural Gas Inventories	29-Jun	-	NA	NA	NA	-

Proprietary Trading Earnings Announcements:

Company	Symbol	EPS	Time	Add to My	Conference
		Estimate*		Calendar	Call
Beale PLC	BAE.L	N/A	Before Market Open	Add
China Finance Online Co Ltd	JRJC	N/A	After Market Close	Add	Listen
Fashion B Air SA	ALFBA.PA	N/A	Before Market Open	Add
Low and Bonar PLC	LWB.L	N/A	Before Market Open	Add
NCC Group PLC	NCC.L	N/A	Before Market Open	Add
Richelieu Hardware Ltd	RCH.TO	0.58	Time Not Supplied	Add
Zoo Digital Group PLC	ZOO.L	N/A	Time Not Supplied	Add

Unusual Options Activity:

FTNT- The Aug. $20/$22 call spread was put on 10k times for a $0.45 debit. Volume was above the open interest in both options. Shares of Fortinet are trading right up against the 50-day EMA, higher by 5.25% on the session.

PBF- 1,000 Dec. $20 puts were bought for $2.00 each, against open interest of 321 contracts. PBF Energy shares are hitting a new all-time low today, down 3.72%.

PSX- 2k Nov. $62.50 calls were bought for $2.10-$2.30 each, against open interest of 1,073 contracts. Shares of Phillips 66 were briefly under the lower Bollinger Band, but have since then moved off of the lows.

SU- The Aug. $27/$31 bull risk reversal was put on 10k times for roughly a $0.30 debit. Volume was well above the open interest in both options. He/she is betting on Suncor Energy shares being above $31.30 on August options expiration.

AAPL- Shares of Apple are off of the highs of the day, but still remain in positive territory. The call to put ratio in the July 5 weekly options is 1.34, once again led by activity in the $420 calls.

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