Jobless Claims, Productivity & Labor Costs, Bernanke, More Greece

by devteam May 6th, 2010 | Share

Volatility in the US stock market hit a three-month high yesterday as the benchmark S&P 500 has shed 3% in the past two trading days. Equity futures have been drifting overnight and suggest a slight recovery this morning.

Two hours before the opening bell, the Dow looks to open 20 points higher at 10,854 while S&P 500 futures are up 2.75 points to 1,166.75. The 2 year Treasury note is unchanged yielding 0.865% and the benchmark 10 year note is up 2.7bps yielding 3.573%.

Light crude oil is off 0.20% to $79.81 per barrel, while gold is up 0.11% to $1,175.90.

Overseas, Greek headlines and the threat of contagion continue to dominate headlines. Japan’s Nikkei index, opening markets after some local holidays, sunk 3.3% to a two-month low today.

A flight to quality has helped the US dollar continue to strengthen, setting a fresh 14-month high against the euro.

In other news, Boston Fed president Eric Rosengren, a voter on the FOMC, said that while economic activity is accelerating, but the US is years away from attaining full employment.

Key Events Today:

8:30 â€

About the Author


Steven A Feinberg (@CPAsteve) of Appletree Business Services LLC, is a PASBA member accountant located in Londonderry, New Hampshire.

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