Today’s sample of Futures Analysis from FuturesHound.com
U.S. stock index futures finished higher today following a choppy, two-sided trading session. This morning’s better than expected U.S. ISM Factory Report helped launch a strong rally, but buyers could not push the market higher. After trading rangebound for a few hours, buyers finally gave in and the market dropped sharply as bids were pulled. The market actually traded lower for the day at one point but quickly turned around before the close.
Thin market conditions had a lot to do with the volatile trade. Big traders were noticeably absent ahead of the Fed’s FOMC meeting on November 4th. In addition, Friday’s U.S. Non-Farm Payrolls Report may be keeping traders on the sidelines. Look for the choppiness to continue tomorrow as day-traders control the action.
U.S. Treasury futures were under pressure throughout the day as the friendly U.S. ISM Report helped boost yields. Expect more sideways to lower trader until Wednesday’s Fed FOMC meeting.
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Equity Markets Finish Higher in Choppy Trade.
Posted - November 02 2009 : 17:46:21
