Index futures, the overnight tape, and the calendar that matters today.
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This is the CAMS Morning Market Brief for Wednesday, August fifth.
Stock index futures are pointing higher again this morning. S and P and Dow futures are each up about half a percent, Nasdaq futures lighter at two tenths, and small caps up about a quarter percent. That points to a firm open that widens yesterday's move rather than narrowing it.
And yesterday was a big one. The Nasdaq one hundred finished up three and a half percent, the S and P five hundred up nearly two, and the Dow and small caps both close to two. Technology did the heavy lifting, up almost five percent, with materials and industrials next best. Seven of eleven sectors ended green. The defensives lagged, health care flat and energy and utilities modestly lower.
Volatility has not confirmed the calm. The VIX sits near seventeen, a touch higher on the day even with stocks surging. That is a market that rallied hard but has not yet let its guard down.
Now the calendar. ADP private payrolls land before the bell at eight fifteen Eastern, ISM Services follows at ten, and the President speaks in the late afternoon. But Friday is the main event, with non farm payrolls, the unemployment rate, and average hourly earnings all at eight thirty. CPI arrives next week.
So the market is waking up to a labor data week with a very strong technology tape behind it.
CAMS publishes impersonal market research — nothing here is individualized investment advice. The full written research is at curve ahead market strategies dot com.
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