Average workweek in hours dropped from 34.4 (May) to 34.3 (June). Payrolls for June (nonfarm) are up 18,000.
And with these numbers, Dow futures went from positive to -102 points. Make that -123. Nasdaq futures are down 20 points. Maybe this is a good time to go long FAZ! Maybe not.
AAPL down 3.45 to 353.75. There goes the bull run of the past 10 days or so. Metals seem to be flat for now. Well, LULU down 1.33. BAC down 17¢. Metals had nice volume this week. The rest of the market, so-so volume. FAZ up 1.16. Hmmm.
Now CNBC says Treasurys are up. US Dollar is up 0.5% to 75.63. Now why would that be just because the jobs numbers are up a miniscule 18,000?
Spot Gold down 3.60 to 1527.00. Spot Silver down 28¢ to 36.26. It was already time for a pullback in the broader market, anyway. This will probably provide a dip for PM buyers. Opportunistic buyers. But I'm still hoping for silver at 32 before my next metal addition. Being a cheapskate can be positive.
Update 2:51 am (Hawaii) BOIIING! Gold now 1535.80 (up 5.20) and Silver down only 9% at 36.45. Indices still red by roughly 1% each.
Update 2:54 am (Hawaii) There go the PMs! Gold 1542.90, Silver now in green at 36.61. FAZ might be playable, but AGQ, EXK, XG ... I may open a position before the opening bell.
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