Morning Market Look
- Posted by UpsideTrader
- on November 5th, 2013
Futures are leaning to the red side because of Europe this morning. after revised European Commission figures showed gloomier growth forecasts for the region. Growth is now seen at 1.1% in 2014, versus a prior expectation of 1.2%, and unemployment is seen rising to 12.2% versus a previous forecast of 12.1%. No biggie. European stocks are trading at 5 year highs. We may also see a rate cut out of Europe on Thursday.
The banks are resting here and are probably resting before a move up $XLF
The ISM number comes out at 10PM, looking for 53%
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