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NASDAQ Futures Hit Record Highs

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NASDAQ futures advanced to a new record high.

June nonfarm payrolls increased 4,800,00 when a gain of 3,000,000 was expected.

The unemployment rate was 11.1%, which compares to the anticipated 12.4%.

Jobless claims in the week ended June 27 were 1,427,000 when 1,400,000 were predicted.

The 9:00 central time May factory orders report is estimated to show an 8.7% increase.

Stock index futures continue to exhibit upside momentum.


The U.S. dollar was lower in the overnight trade, but there was a partial recovery when the stronger than expected U.S. nonfarm payrolls report was released.

A further recovery in the greenback is likely from the morning lower prices.

The euro currency is higher despite news that the unemployment rate in the euro zone came in at 7.4% in May, which is the worst reading since November of last year.

Higher crude oil prices supported the “commodity currencies,” the Canadian dollar and the Australian dollar.


Futures came under selling pressure when the stronger than expected U.S. nonfarm payrolls report was released.

There are no major Federal Reserve speakers scheduled for today.

According to financial futures markets there is a 96.7% probability that the Federal Open Market Committee will leave its fed funds rate unchanged at zero to 25 basis points at its July 29 policy meeting.

Futures and options trading involve significant risk of loss and may not be suitable for everyone.  Therefore, carefully consider whether such trading is suitable for you in light of your financial condition.  The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM.  The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared.  The information provided is designed to assist in your analysis and evaluation of the futures and options markets.  However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.

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