Day Traders Diary
03/15/201208:40 WRAPX S&P futures vs fair value: +3.90. Nasdaq futures vs fair value: +8.80.
Stock futures have maintained a modest lead over fair value following a substantial dose of data. Initial jobless claims for the week ended March 10 totaled 351,000, which is down 14,000 week over week, but not too different than the 355,000 initial claims that had been expected, on average, among economists polled by Briefing.com. Continuing claims also came down. They totaled about 3.34 million after standing at about 3.42 million in the prior reading... Separately, the Empire Manufacturing Survey improved to 20.2 in March from 19.5 in February. The improvement came as a pleasant surprise since the popular prediction pegged it at 15.0... Producer price data for February was also recently released. Overall producer prices increased by 0.4% month over month, but a 0.5% increase had been broadly anticipated. Core producer prices increased by a more moderate 0.2% month over month, as had been generally expected.
All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.