Morning Outlook

Wall Street is looking to give back some of their gains from yesterday if this premarket trading keeps up. There is no economic data to be released today ahead of Thursday’s weekly jobless claims, which will be huge as it is our first look at July following June’s dissapointing Employment Situation. The greenback is up following some reassuring comments from China regarding their dollar holdings. The euro is down while bond prices are up. Not a good combo of investor confidence. The yield on the 10 year treasury fell 2 basis point to 2.92 percent. If you are able to get a loan, there is free money out there. Ahead of the opening bell, Dow Jones industrial average futures fell 49, or 0.5 percent, to 9,633. Standard & Poor’s 500 index futures fell 5.50, or 0.5 percent, to 1,018.70, while Nasdaq 100 index futures fell 11.50, or 0.7 percent, to 1,723.00

The blue chips snapped their week long losing streak, closing green after 7 sessions on a hard fought trading day. The DJIA advanced 57.14, or 0.6 percent, to 9,743.62. The broader Standard & Poor’s 500 index rose 5.48, or 0.5 percent, to 1,028.06, while the Nasdaq composite index gained 2.09, or 0.1 percent, to 2,093.88.

Currencies and Commodities

The dollar fell 0.3371% at 87.2250 yen in the currency market. The euro depreciated 0.3116% at $1.2587, while the pound lost 0.2112% to $1.5118. Gold moved down $4.90 to $1190.20 as the greenback advanced, while silver rose 0.85% at $18.87. Light, sweet crude advanced 51 cents to $72.49 per barrel on the NYMEX; a 0.71% advance.