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December 4th, 2015 at 6:59 am
Good morning!
We're up a bit in the Futures but not even making weak bounces in the Futures (no volume) is… weak.
We're at 17,550, 2,057.50, 4,621 and 1,173 and I think we'll end up red today – especially if OPEC can't boost the energy sector – we'll just have to see.
NFP at 8:30 and I think 200K expected after 270,000 last month is a pretty low bar but it would be better for the markets if we miss by about 50,000 – as that might take the Fed back off the table. Watch earnings, which are expected to be up 0.2% – if those are hotter than that – the Fed will absolutely tighten because Wage Inflation is the kind of inflation they really like to fight.
Bullard and Kocherlakota speak into the close today – maybe to prevent a sell-off here from rolling into a disaster over the weekend.