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Welcome, 77 artists, 40 different points of Attica welcomes you by singing Erotokritos an epic romance written at 1713 by Vitsentzos Kornaros

Friday, May 1, 2015

What are traders chatting about right now? 'New tech' under pressure...

Here's a roundup of what traders are buzzing about Friday morning: Good Morning, and Happy Friday! US Futures have a nice uptick to them this morning, as month-end shenanigans fade into the past – but “New Tech” may be under sharp pressure again today (LNKD), causing Nasdaq to lag. MayDay Holiday, all EU Markets are closed, except London (Closed Monday), which is actually trading decent volume, as the materials sectors bounce hard as metal prices continue to improve. Financials in London under pressure (Election Jitters), but have been rallying from lows. In Asia, while Prices rose in Japan for the first time since April 2014, and Tokyo bounced small ahead of Golden Week holidays in Japan - Most of Asia was closed (China, HK, Taiwan, Korea, India, Thailand, Indonesia, and others, all were closed). Australian stocks snapped a three-day losing streak on Friday thanks to a rally in mining stocks. Treasuries are seeing some selling again this morning, as players in Europe continue to punt yield – with the 10YY up 3bp – but all eyes remain on the Euro, which has popped back to 2M highs near 1.13 against the $ as signs continue to point towards a Greek Deal this weekend. With the DXY under pressure (watch 94.4), we have a tailwind for commodities. Copper, the weeks best performing metal, is continuing gains, adding another 50bp. Gold bugs need to be concerned about the yellow metal staying red after yesterday’s smackdown. The Energy complex is all under pressure, led by a 1% drop in Natty. Fed's Mester Speaks on Consumer Credit at 8:30 – we get Markit US Manufacturing PMI at 9:45. At 10 ISM Manufacturing and U. of Mich. Sentiment – Oil traders will focus on the Baker Hughes Rig Count at 1. I always love the “Commitment of Traders” data at 3:30 - Fed's Williams Speaks at Chapman University at 3:45 to cap the dayJoin the conversation about this story » NOW WATCH: Watch these giant container ships collide near the Suez Canal


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