Day Traders Diary


WRAPX S&P futures vs fair value: -4.50. Nasdaq futures vs fair value: -5.00.
Stock futures have eased lower so that a slightly lower start to trade today is expected. Moderate weakness comes after stocks scored strong gains yesterday in response to approved austerity measures in Greece, only to be reminded of the precarious conditions in the rest of the eurozone by several debt rating downgrades by analysts at Moody's. Helping to temper disappointment over those headlines is news of improved economic sentiment in Germany, which is the eurozone's largest, most diverse economy. Additionally, Japan announced that it has expanded its asset purchase program. However, domestic data hasn't been all that inspiring. It has thus far featured some unexciting import and export numbers, while monthly retail sales were mixed in that overall sales increased by half of what had been expected while sales less autos proved stronger than expected. Business inventory data are due at 10:00 AM ET.

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