Outlook 07/02: U.S. stock futures rose early Thursday as investors cheered a bigger-than-expected increase in jobs in June as the economy tries to claws back from the coronavirus shutdown. 4.8 million jobs were created in June, the closely-watched Labor Department employment report showed on Thursday. Economists were expecting 2.9 million jobs were created. The unemployment rate fell to 11.1% from 13.3% in May. Economists were expecting a rate of 12.4%, according to Dow Jones. Last month, economists forecast a loss of 8 million jobs in May and the economy gained 2.5 million payrolls instead. Meanwhile, the weekly jobless claims data were also be released Thursday morning. The Labor Department said Thursday that initial jobless claims rose by 1.427 million in the week ending June 27. Economists polled by Dow Jones expected initial U.S. jobless claims to rise by another 1.38 million, down from 1.48 million the week earlier.
/ESU20 Value: YVAH 3113 YPOC 3104 YVAL 3094 GAP 3102.50
/ES Plan: Yesterday market closed bullish, and overnight continues on that way, moving above yesterday's range, so these are the initial balance options for today's opening:
A) If market remains above LIS HVE 3138 with bullish internals, buy towards ONH 3147.50 and HVE 3160 and PBT-HVE 3177.
B) If market moves below LIS HVE 3138 with bearish internals, sell towards HVE 3116 GAP 3102.50 YVAH 3113 and ONL 3095.50
Market Movers
10:00 Factory Orders
10:30 EIA Natural Gas Inventory
01:00 PM Baker-Hughes Rig Count
04:30 PM Money Supply
04:30 PM Fed Balance Sheet
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