Thursday, August 29, 2013

Thursday Aug 29 pre-mkt outlook

The /ES looks to open around 1629 after closing at 1631. It hit an overnight low of 1629.50 and a high of 1638.50 at 0800. It began to sell off hard after better than expected GDP and jobless numbers which may mean the Fed will start the tapering. The 10yr is higher at 2.81 after finishing yesterday at 2.78.

$VZ is a stock to watch as it trades around 48.70 after closing at 46.56 yesterday on news that it may buy out $VOD stake. The stock had traded as high as 50 in the pre-mkt, I would look for a bit of a pullback off the mkt open on the news.

Not much else going on, looks like a trade the tape kind of day.

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