Eco news and E-minis

Discussion in 'Index Futures' started by arzoo, Apr 2, 2003.

  1. arzoo


    I'm still new to e-minis, though I've noticed that there are some economic news that come out at 10am that do affect the e-mini movement, and others that are just brushed aside (whether the results are above or below expectations).

    Which of these are considered market moving and which arent?

  2. Well Arzoo since the e-minis trade from chicago...I guess you mean 10:00 am cst.

    Michael B.
  3. Ebo


    He means EST.
    As in NEW YORK.
    He is also clearly a little wet behind the ears.
    This may help........Until The War is over these numbers are MEANINGLESS!!! Check Briefing .com for calendar

    Economic Calendar

    Week of 2003/03/30-2003/04/05
    Consensus - Prior - Revised

    2003/04/03 08:30:01 Initial Claims 03/29 415K 410K 402K
    2003/04/03 10:00:01 ISM Services Mar 53.0 52.5 53.9
    2003/04/04 08:30:01 Nonfarm Payrolls Mar -75K -40K 308K
    2003/04/04 08:30:01 Unemployment Rate Mar 5.9% 5.9% 5.8%
    2003/04/04 08:30:01 Hourly Earnings Mar 0.3% 0.2% 0.7%
    2003/04/04 08:30:01 Average Workweek Mar 34.2 34.2 34.1
  4. Can you give some examples of the ones you notice that do affect the emini movement...

    along with examples of key economic reports that are brushed aside?

    My point is this...when you notice a report that had impact one particular week and no impact on prices another particular week...

    there's a very good chance that the market is reacting to something much more bigger than that particular report.

    Further, if you don't notice or don't know what the bigger event is...

    could be a sign that your not in touch with things....

    or you could be making a mistake by ignoring the impact of other news events that has nothing to do with the economy.

  5. Woody


    I check the economic calendar at each morning so that I am aware of the time any economic reports are due out. Just about every report that comes out during the regular trading hours has the potential to move the market.
  6. arzoo


    Thanks guys for your help.

    I think NihabaAshi you're correct, that often there is a bigger underlying event happening that overshadows the eco report so it is brushed aside. Otherwise, like woody said eco news have potential to move the mkts.

    I always make sure I'm aware of the eco news to be put out at 10am. The reason I asked the question is that if I do get into a position before the news, I always get out before the eco news is announced, becuase of I've seen gains turn into break even or loss with a sudden jolt due to the eco announcement.

    The thing I'm trying to figure out is when I may be able to hold over the eco news, since there are times when the mkt is in a nice trend and continues after the announcement. But by then I'd be out right before the news to play safe.

    Thanks again.

  7. Well this week were NOT meaningless. Pretty hectic movement on ES through these numbers. I've seen some good trades on people putting bids in below the market prior numbers coming out.

    For some reason, worse the number, higher we bounce. Go figure.

    When we have 10:00 numbers, I would advise you to hang back and let market take that first swing and shake.
    After initial reaction, that's where you put your bet on.
  8. Ebo


    Dude...........Meaningless until the war is over!
    You are a bag of wind. Either back up your ignorant statements or watch and learn. The market did not react negatively to a terrible Unemployment report and rallied on a worse than expected ISM report. And now we rally 8 S & P handles as we speak to news of Sadaam Airport being taken over.

    Mar 29 initial claims jumped a stronger than expected 38K to 445K, the strongest in a year. Continued claims for the week of Mar 22 jumped a healthy 107K despite the steady run off tied to duration eligibility. The news is negative but inconsistent with the Challenger layoff count.

    Today's reading represents a 6 point drop, the first sub-50 read since Jan 2002 and the lowest since the record low of Oct '01 (9/11). The market initially slipped on the surprising weakness but has more than recouped the slide.

    Stop insulting people on this board please until you have a clue.
  9. Some numbers are more important than others but the effect they each have on the market will vary depending on how far above/below 'expectations' the number ends up being. Any number can move the market if it is a big surprise.

    This link gives the daily calendar of economic reports. If you click on the name of the report it will give a description and a grading of how important the report is 'meant' to be.

    IMO the numbers still have an effect on the market during this war period, however, it doesn't seem to be as long lived. Their will be movement on the numbers release but the overall movement for the day is based mainly on war developments.

    As a rule of thumb, I stay out of the market at the news release as I have absolutely no idea what the market will do.
  10. "Which of these are considered market moving and which arent?"

    Arzoo, I have a small tidbit for you. Consider just standing aside and watching the action in the futures during these economic reports untill you have a solid feel for them. I dont trade the futures just the SPY and learned the hard way to stay flat when numbers are released.
    #10     Apr 4, 2003