Index futures, the overnight tape, and the calendar that matters today.
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This is the CAMS Morning Market Brief for Thursday, August sixth.
Index futures are pointing in two directions this morning. Dow futures are up about two tenths of a percent, S&P futures are barely positive, and Russell futures are flat. Nasdaq futures are the outlier, down roughly six tenths. That sets up an open where the older, heavier corners of the market carry the load and big technology is the weight on the other side.
Yesterday looked much the same. The Dow closed up almost half a percent while the Nasdaq one hundred fell nine tenths, the S&P five hundred slipped two tenths, and the Russell two thousand gave back about six tenths. Underneath, sectors split nearly evenly, five higher and six lower. Health care and materials led, each up about one percent. Energy was the clear soft spot, off about two percent, with communications and utilities also lower.
Volatility is calm but awake. The VIX sits near sixteen, up about one and a half percent.
On the calendar, weekly unemployment claims arrive at eight thirty Eastern. That is the warm-up. The main event is tomorrow, when the monthly jobs report, average hourly earnings and the unemployment rate all land together at eight thirty. Consumer price inflation follows next Wednesday. So the market is waking up to a rotation already in motion, and a quiet Thursday before the labor numbers set the tone into next week.
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