EmailStocks began the session with a bullish bias. The rally reached session highs 30 minutes after the open when the August factory orders report indicated a 5.2% decrease. The number was not positive in itself, posting its worst reading since January 2009. However, it was better-than-feared as expectations called for a 6.0% pullback. After marking session highs, stocks spent the remainder of the day hovering near those levels. As a result, the S&P 500 closed with a gain of 0.7%.
Today after the close no companies are scheduled to report earnings.
Futures are mixed after hours: S&P 500 futures are +0.34 from fair value of 1455.46 and Nasdaq100 futures are -0.81 from fair value of 2822.31.
Tomorrow morning before the open four economic reports are scheduled to be released: 1) Nonfarm Payrolls (Consensus 120k) and Nonfarm Private Payrolls (Consensus 130k), 2) Unemployment rate (Consensus 8.1%), 3) Hourly earnings (Consensus 0.2%), and 4) Average Workweek (Consensus 34.4).
Tomorrow before the open the following companies are scheduled to report earnings: STZ
