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Market Thoughts Morning Jan 4 2019

Summary

Big nonfarm payroll number to be released.

Federal Reserve Chairman Powell speech.

S&P 500 futures up 30.25 points in pre-market trading to 2,478.00.

Nonfarm payrolls to be released at 8:30 am ET, release here

Federal Reserve Chairman Powell gives a speech at 10:15 am ET, watch here

S&P 500 futures up 30.25 points in pre-market trading to 2,478.00

The House in Congress passed two bills to reopen government.

Keep an eye on the Tweeter feed.

Yesterday Thought:

The S&P 500 level of 2,460 is seen as key.

Chart
^SPX data by YCharts

The S&P 500 index tested and broke the 2,460 level, but this morning S&P 500 futures have rebounded higher. Time will tell if the 2,460 level holds.

Disclosure: I am/we are long SPY.

Additional disclosure: Long S&P 500 index, may use put or call options to adjust exposure.