Day Traders Diary
01/26/2012WRAPX S&P futures vs fair value: +4.30. Nasdaq futures vs fair value: +4.80.
Stock futures continue to trade with modest strength following a couple of doses of data. Durable goods orders for December were up 3.0%, which is greater than the 2.0% increase that had been generally anticipated among economists polled by Briefing.com. Orders for the prior month were revised upward to reflect an increase of 4.3%. Excluding autos, durable goods orders were up 2.1%, which is triple the increase that had been commonly expected. Prior month orders less autos were revised upward to reflect an increase of 0.5%.
Separately, initial jobless claims for the week ended January 21 totaled 377,000, which is in stride with the 375,000 initial claims that had been expected, on average, among economists surveyed by Briefing.com. The latest tally marks a jump of 21,000 from the prior week. Meanwhile, continuing claims climbed to 3.55 million from 3.47 million.
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