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Sep 30 2014

Early morning trading showing equity futures higher

Market Recap:

Investors were unnerved by pro-democracy protests in Hong Kong, sending the Dow Jones Industrial Average down by as much as 175 points before rebounding into near positive territory to close down a mild ¼%. Commodities rallied across the board on a partial rebound from recent weakness as well as a lower than expected crop report that sent agricultural futures up almost 2%. The U.S. dollar strengthened slightly further as concerns over the upcoming ECB meeting put pressure on the Euro.

Looking Ahead:

Early morning trading is showing equity futures higher on Tuesday, as investors are coming to grips with the impact (or lack thereof) of the protests in HK and relatively positive economic news from Europe. In addition to the heavy international data releases, market participants will get the latest Case Shiller Housing Prices report, the U.S. Redbook report as well as Consumer and Investor Confidence data and the Chicago PMI report this morning. Moreover, investors will start to look towards next Tuesday when third-quarter earnings season ceremoniously kicks off with ALCOA reporting. Analyst consensus shows earnings growing by almost 7% in Q3, making a solid case for a continued bull-run.

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