US stock markets are expected to open above Friday’s closing level at 14:30 according to futures contracts. The US500 is currently above the 2097 where it was on the cash close at the end of last week after the market recovered well from some strong selling after the week NFP number.
The US500 was trading 2105 when the number was released and immediately sold lower on the soft employment report. On the opening bell the market was at 2096, so the 2097 on the cash close signals a marginal gain. Whilst the gain was so small it was almost insignificant the failure of the market to sell despite the the miss in key data reveals some underlying strength. After touching a low of 2082 an hour into the US session the market steadily regained the losses and has been moving higher so far today.
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