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Looking Ahead to Friday's Market

September 6, 2012 @ 4:22 PM EST

by Don Moenning

Quick Recap of Thursday’s Session:

Stocks finished significantly higher on Thursday as the S&P 500 made new 2012 highs. The primary driver of the big push higher was Mario Draghi’s announcement of the ECB bond-buying program (details of which were leaked yesterday). Some better-than-expected economic data here in the U.S. (ISM Non-Manufacturing, Weekly Jobless Claims, ADP Employment) also helped bolster sentiment. Stocks would gain heavy early on and never look back. The bulls kept the pressure on the entire session and ended the day right near intraday highs. The S&P 500 and Nasdaq made new 2012 highs.

S&P 500 +2.04%, NASDAQ +2.17%, DJIA +1.87%, Midcaps +1.93%.

Looking Ahead to Friday:

  • Overnight we get Unemployment from Switzerland, Industrial Production from Spain, Portugal, Germany, and the U.K., Manufacturing Production and PPI from the U.K., and GDP from Portugal.
  • Before the bell here is the always important Nonfarm Payrolls report and Unemployment Rate.
  • The Nonfarm Payrolls report will be a big number, and Friday will be all about follow through for the bulls. A few major indices made new 2012 highs on Thursday, while a few others came very close.

 

  S&P 500 - Intraday
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  S&P 500 - Last 12 Months
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