US markets trade tentatively into the weekend

Discussion in 'Trading' started by TradeTheNews, Mar 2, 2007.

  1. TradeTheNews

    TradeTheNews ET Sponsor

    US Mid-Morning Recap
    by TradeTheNews Staff

    - Volumes and overall volatility are markedly lower than the last few sessions, but Indices again opened lower only to recoup much of their losses. Before the open the Fed’s Poole noted a recession is always possible but the probability is still not very high. The Treasury market began floor trading in positive territory but yields have since drifted a little higher. The 10-year is hovering right around the unchanged level yielding a shade under 4.55%. Crude futures are close to unchanged as well while the OSX is off 0.75%. Large cap retail stocks are seeing some buying led by KSS +6% post Q4 earnings. WMT +0.5% TGT +1% SHLD +3% SHLD +2.8% BJ +2%. DRTE +21% and BRW +35% surging after announcing they received buyout offers.

    - April Gold has sold off to session lows below the $650 mark. It is currently trading right at the 50% retracement level for the move up made in early Jan to late Feb. Silver is off another 4.5% approaching $13 on the May contract. The Yen continues to claw its way higher across the board. The USD/JPY made a run a few runs at the key 116.70 level but has held.
  2. It's early yet!
  3. I suspect real volatility will return Monday and should last (I hope) throughout the week.
  4. TradeTheNews

    TradeTheNews ET Sponsor

    yes it usual last hour will be key