Feb 1, 2013
The market is up 31. SFE Futures were up 5 this morning. Dow was down 50. The Dow was up 31 at best and closed on its lows.
Markets saw lighter volumes as Wall St awaits the non farm payrolls data due out tonight, the previous reading was 155,000 and the forecast is a lift of 5000. QualComm up 3.9%,Dow Chemical down 6.96%, ConocoPhillips down 5.06%, UPS down 2.39% on results. Chevron, Exxon Mobil and Merck will report before tonight’s open. US personal income was good — up 2.6% in December with spending up by 0.2%. The Chicago PMI reading bounced from 50.0 to 55.6, a nine-month high. Initial jobless claims were up by 38,000 to 368,000 last week. The US 10 year bond yield was down 1bpt at 1.987%.