Welcome to the today’s Afternoon Brief- Four hours into the U.S. session equities continue to climb after Spain released its 2013 budget. According to a release from Deputy Prime Minister the budget will focus on spending cuts and not raise taxes.
Can U.S. markets move higher after a broad sell off Monday? Two weeks ago trader overcame the broad sell off but future’s today look basically flat in pre-markets with implied opens for Dow Jones at 13.34, S&P 500 0.03 and the NASDAQ at 2.26 as of 8:40 a.m. ET.
Futures are suggesting the markets could build on yesterday’s bounce. Futures are up ahead of the open with S&P fair value at +13.00 and NASDAQ fair value at +21.80.
U.S. markets dropped more than 1% today as the euro fell off a cliff hitting a 2 year low until the afternoon when the euro regained its footing sending the U.S. dollar lower and equities higher.
U.S. markets are at session lows with the S&P 500 nearing the 1300 market and the NASDAQ is extending its slide to yet another new session low to the 2800 mark.
U.S. futures take it on the chin after the U.S. weekly jobs report
The bears trying to take control forcing stocks lower and the S&P 500 lower towards this morning’s level and forcing the NASDAQ to session’s lows.
The S&P 500 is not fairing very well in early afternoon trading, down over 17 points at the time of this post has many traders running for cover. Its times like this I like to map the market and find if any names that are bucking the trend and find out why. Its these names that seem to be able to weather the turmoil better and warrant a look.
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