Things to consider before US market open today

Updated: 26 March 2020
  1. Energy sector keeps settling just under 25.00 and US has suggested Saudis to stop the war with Russia on oil production. If we see some change in Russia/Saudi discussion that might push the oil higher into the 30.00 mark. In this case the market will also benefit from the rise so keep monitoring Oil Markets.
  2. The US finally passed the Corona-Virus bill after the market close. It was an anonymous vote but the markets still under pressure. At the moment we have news from Powell that the FED will not run out of bullets and its going to use all tools to stimulate the economy. Well at least all legal tools. If the unemployment data today 8:30am NY time is better than expected, we might see a larger move into 2520 on SPX/SP500 Futures.
  3. European markets are slightly lower but this may change quickly if the market changes structure after the US unemployment numbers. At the moment we do see a potential continuation of the bounce and Europe might be dragged higher. Although we do not have to ignore the fact that Italy is still struggling and other countries are taking aggressive measures that eventually will hit the economy badly so the question is, is the market discounting future economic slowdown or not.

  1. On top of the jobless claims we also have GDP for the 4thquarter released today so this news will eventually hit the futures market so any plans for trades so far will be adjusted on the reaction to these news release.

  1. Here are some stocks that moved in the pre-market and might be interesting for a day trade or a swing position in case you are looking for a trade. FB, AAPL, NFLX, BABA, ZM, NVDA. We gap down on some of them and that might be a buying opportunity for intraday trades. Red to green action in case we have good numbers on the unemployment.