April 12th Watchlist
There is a decent amount of news to influence stock prices this morning as we take a look at the futures down close to half a percent in the premarkets. Retail Sales data fell by the biggest amount in nine months. Futures around 8:30 reacted negatively but have since stuck in a bit of a range. We also had some high profile bank earnings from JP Morgan (NYSE: JPM) & Wells Fargo (NYSE: WFC) with neither company reporting dismal earnings. There was a top line miss on revenue but it seems the street was expecting more of a beat and was pricing that in as well. This could be the reason for the weak reaction off the reports.
Gold & Silver are taking a beating this morning with SPDR Gold Trust (NYSE: GLD) down 1.5% in overnight trading. There's fresh news that Cyprus is looking for more cash from the EU.
Netflix (NASDAQ: NFLX) yesterday piped up afterhours after a report was released saying users clocked in over 4 billion hours accessing Netflix content.
For the intraday traders I wouldn't look for too much alpha if you missed most of the moves from the last few sessions. With today being an options ex, it's very possible the market goes into severe chop and screws both sides of the trade. Writing credit spreads might work out as the better strategy today.
GOOD MORNING YOUNG WORLD!
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