Well we know today would be different at around 4:30 when we didn’t see any markets tanking.But first, the scoreboard:
S&P 500: +22.12
And now the top stories:
- The big story of the night was that there wasn’t too much bad that happened. There wasn’t some new bombing run in Libya. There were no crashes anywhere.
- US futures were strong all night and into the very early going. At 8:30 we got a strong initial claims report, and that helped stocks move higher. Then at the same time Trichet made some hawkish sounding comments, sending the euro soaring and the dollar plummeting.
- And thus from there we got the “risk on” tone that lasted all day. Stocks, as noted above exploded, gold and silver got bludgeoned.
- All day there was chatter about this idea that Hugo Chavez could broker a Libyan peace deal. It seems totally implausible and the LIbyan rebels almost certainly won’t go for it.
- Anyway, all eyes are on Friday’s big jobs report. Check out the preview here >