Archie's Corner

[Foxlette]

morning AA :)

8:50AM: Cash market appears poised for a lackluster start as the S&P futures, +1.30, are 0.70 points below fair value while the Nasdaq 100 Pre-Market Indicator is up 6 points... Lack of enthusiasm attributed to underlying sense of caution following yesterday's late selloff, weakness in foreign markets, and the Bank of England's decision to leave rates unchanged...
Early support has been provided, however, by a batch of generally positive same-store sales results from retailers for the month of December and a better than expected initial claims report for the week of Jan. 5 that supports the view that the pace of layoffs has abated.

8:35AM: Initial claims fell 56K to 395K in the week of Jan. 5; consensus estimate was 420K... not much reaction in futures market to better than expected report as the S&P futures, +2.50, are 0.50 points above fair value while the Nasdaq 100 Pre-Market Indicator is up 8 points.