Market Overview

August 1st Watchlist

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After yesterday's choppy session off the backs of the FOMC minutes, we're looking at a nice gap up to all time highs on the S&P this morning. We're basically right under them again and all sectors are squarely in the green during the premarkets, hinting towards a possible rally through $170 on the SPY for the day.

Jobless Claims came in better than expected and most of the street is still waiting on tomorrow's Unemployment Report to further explore the status of jobs in America. There is an ISM number coming out at 10 AM as well so be sure to watch for reaction out of the futures, this tends to be a market moving report.

LinkedIN (NYSE: LNKD) reports after the close today and Yelp (NYSE: YELP) shares are up considerably this morning after reporting earnings that topped analyst estimates. This may bode well for the social networking companies today so keep an eye on some of those names including Facebook (NASDAQ: FB).


The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

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