We've asked Michael Seery of SEERYFUTURES.COM an IB of Peregrine Finanial Group to give our INO readers a weekly recap of the Futures market. He has been Senior Analyst for close to 15 years and has extensive knowledge of all of the commodity and option markets.
Michael frequently appears on multiple business networks including Bloomberg news, Fox Business, CNBC Worldwide, CNN Busines, and Bloomberg TV. He is also a guest on First Business, which is a national and internationally syndicated business show.
Stock Futures--- The stock market this morning are sharply lower across the board due to the fact of the monthly unemployment report which was bearish adding 115, 000 new jobs however 175, 000 new jobs were expected and is pushing the S&P 500 down 18.00 points currently trading at 1368.50 while the Dow Jones industrial average is down 150 points breaking 13,000 mark in the June futures currently trading at 12, 996 and active trade in Chicago today. The NASDAQ futures for the June contract are lower by nearly 47 points currently trading at 2,645 again due to a negative unemployment report which put the unemployment rate of 8.1% which is the lowest rate in nearly 3 years , however in my opinion I think the Obama administration is trying to get the unemployment rate to about 7.8% before election time because it looks good politically that the rate continues to drop however the economy is still poor and the unemployment rate in the last several years really can give mixed signals. Continue reading "Weekly Futures Wrap Up w/Michael Seery"
