Pre-Market Indicators

  • Asia was flat
  • ES is flat
  • Bonds are flat
  • Gold is flat
  • Euro is flat but weak
  • Nokia to cut 10000 jobs
  • *Eurozone markets are down 1% this morning reacting to Fitch’s Baa3 Spanish debt downgrade
  • Spain borrowing hits 6.9%
  • Greek unemployement hits 22%
  • EU labor costs +2%
  • EU inflation 2.4%

*US Futures seem to be ignoring the Fitch downgrade, curious. My guess is they’re waiting for the claims and CPI numbers at 8h30. Holding pattern…

Good trading.