S&P 500 drifted within a pretty tight range on Thursday, eventually
settling with a modest gain of 0.3%. Investors were still wrestling with the
Fed's upped rate-hike forecast and received another central bank policy
decision, this time from the ECB. The Dow (-0.1%) struggled to keep pace, but
the tech-heavy Nasdaq (+0.9%) outperformed, hitting a new all-time high.
Today after the close the following companies were scheduled to report earnings: FNSR, ADBE, JBL.
Futures are higher after hours: S&P 500 futures are +2.00 from its fair value of 2,787 and Nasdaq100 futures are +3.75 from fair value of 7,308.
Tomorrow morning, economic reports scheduled to be released include: Empire Manufacturing (08:30am ET, Consensus 20.0), Industrial Production (09:15am ET, Consensus 0.2%), Capacity Utilization (09:15am ET, Consensus 78.1%).
Tomorrow before the open the following: GOOS
Looking over at the energy markets...
The Dept. of Energy released its weekly natural gas storage data this morning, adding to the volatility in energy markets today.
The EIA natural gas for the week ended June 8 is as follows:
- Natural gas inventory showed a build of 96 bcf vs a build of 92 bcf in the prior week
- Working gas in storage was 1,913 Bcf as of Friday, June 8, 2018, according to EIA estimates. This represents a net increase of 96 Bcf from the previous week. Stocks were 785 Bcf less than last year at this time and 507 Bcf below the five-year average of 2,420 Bcf. At 1,913 Bcf, total working gas is within the five-year historical range