New book by Larry Connors Click here Improve your trading - See how
Trading may assume a tentative tone, as traders look forward to the release of some key first-tier economic reports, including the June non-farm payrolls report and the Institute of Supply Management's Manufacturing Survey during the course of the week. Trading volume is likely to be light due to the week being truncated by the independence day holiday on Friday.
As of 6.45 am ET, the Dow Futures were up 31 points, the S&P Futures were up 3.80 points, and the Nasdaq 100 futures were up 5.50 points.
On Friday, the stocks ended mixed amid lackluster performance characterized by lower volumes as investors turned jittery about the prospects of economic recovery following weak economic fundamentals.
While the Nasdaq closed up by 8.68 points or 0.5% at 1,838, the Dow slipped by 34.01 points or 0.4% to close at 8,438 and the S&P 500 fell 1.36 or 0.2% to close at 919.
Tax consulting service provide H & R Block (HRB | Quote | Chart | News | PowerRating) is slated to release financial results for the fourth quarter Analysts expect the company to report EPS of $2.05 for the quarter.
In Europe, a survey released by the European Commission revealed that economic sentiment in the Eurozone improved for the third consecutive month in June to 73.3 from 70.2 in May. The International Monetary Fund, or IMF, in its report on France, warned that high public debt and the fiscal stimulus would significantly worsen France's fiscal outlook over the medium term. The agency further noted that the fall in tax revenues in 2009-10 due to the sharp contraction in economic output will lead to uncomfortably high fiscal deficits.
More evidence of a near term recovery is emerging from Asia, as the latest industrial production report from Japan showed that output jumped 5.9% in May, marking the third straight month of increase. More importantly, manufacturers seem to be upbeat, with the ministry's survey of manufacturing revealing that they expect increases in industrial production over the next two months.
The price of crude oil is moving northward, recovering the its early losses in Asian trading and is presently quoted at $69.31, up 15 cents from previous close at $69.16 on Friday. On the currency front, the Euro is presently currently trading higher against the greenback and other major currencies following the release of better than expected economic data from the region. economic sentiment survey for the Euro area..
European markets are trading in the positive territory, led by drug makers and commodities, following a rise in commodity stocks.
Markets across Asia ended in negative territory amid growing concerns about the state of the global economy as confidence seems to be waning.
For comments and feedback: contact editorial@rttnews.com Copyright(c) 2009 RTTNews.com, Inc. All Rights Reserved
More News:
Market Updates |
Stock Alerts |
All Trading News |
Stock Index
About TradingMarkets | Contact | Advertise | Careers | Link to Us | Site Map | Help | Terms & Conditions | Privacy Policy | Return Policy | Testimonials | Feedback
The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system, and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company's products (collectively, the "Information") are provided for informational and educational purposes only and should not be construed as investment advice. Examples presented on Company's website are for educational purposes only. Such set-ups are not solicitations of any order to buy or sell. Accordingly, you should not rely solely on the Information in making any investment. Rather, you should use the Information only as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments. You should always check with your licensed financial advisor and tax advisor to determine the suitability of any investment.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING AND MAY NOT BE IMPACTED BY BROKERAGE AND OTHER SLIPPAGE FEES. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.
The Connors Group, Inc.
10 Exchange Place, Suite 1800
Jersey City, NJ 07302
© Copyright 2009 The Connors Group, Inc.
