U.S. equity index futures were higher this morning. S&P 500 futures were up 21 points in pre-opening trade. Futures are responding to weakness in the U.S. Dollar Index.
Index futures were virtually unchanged following release of economic news. Consensus for June ADP employment was 180,000 versus revised 189,000 in May. Actual was 177,000. Consensus for Weekly Jobless Claims was 225,000 versus revised 230,000. Actual was 231,000.
General Motors gained $1.03 to $40.00 and Ford advanced $0.11 to $11.10 after the U.S. Administration offered a settlement on proposed tariffs on European autos.
Qorvo added $1.76 to $79.20 after KeyBanc Capital upgraded the stock to Overweight from Sector Weight.
FaceBook advanced $2.47 to $195.20 after BTIG raised its target price to $275 from $175.
EquityClock's Daily Market Comment
Following is a link:
http://www.equityclock.com/2018/07/03/stock-market-outlook-for-july-5-2018/
Note seasonality chart on Manufacturers' New Orders.
Observations
The TSX Composite Index recovered back above its 20 day moving average. Short term momentum indicators have bottomed. Technical score increased to 6 from 2.
'Tis the season for the TSX Composite Index to move higher to the third week in July in anticipation of strong second quarter revenues and earnings!
StockTwit Released Yesterday @EquityClock
Another Canadian Gold Producer breakout! Yamana Gold $YRI.CA moved above $4.13 extending an intermediate uptrend.
Trader's Corner
Daily Seasonal/Technical Equity Trends for July 4th 2018
Green: Increase from previous day
Red: Decrease from previous day
Daily Seasonal/Technical Commodities Trends for July 4th 2018
Green: Increase from previous day
Red: Decrease from previous day
Daily Seasonal/Technical Sector Trends for July 4th 2018
Green: Increase from previous day
Red: Decrease from previous day
Disclaimer: Seasonality and technical ratings offered in this report and at
www.equityclock.com are for information only. They should not be considered as advice to purchase or to sell mentioned securities. Data offered in this report is believed to be accurate, but is not guaranteed
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