Down goes the Dow

U.S. stock futures flipped slightly higher Thursday after falling overnight, as investors assess whether markets have settled after the U.K.'s Brexit vote prompted a rout, then a rally.

In focus later will be a speech by a key Federal Reserve policy maker, St. Louis Fed President James Bullard, and a weekly update on jobless claims.

Futures for the Dow Jones Industrial Average were up 45 points, or 0.3%, to 17,669.00, and futures for the S&P 500 index picked up 4.95 points, or 0.2%, at 2,071.75. Nasdaq-100 futures were up 8.75 points, or 0.2%, at 4,371.50.

Futures for each of the indexes were in the red earlier Thursday, as crude-oil prices pulled back from their gain on Wednesday, the biggest since early April.

The Dow Jones Industrial Average is about 320 points away from recouping its Brexit-spurred losses. The benchmark on Wednesday ended 1.6% higher, while the S&P 500 tacked on 1.7%. The Nasdaq Composite Index added 1.9%.

"Market sentiment seems to be settling down, as the volatility following last week's Brexit continues to subside," said Richard Perry, market analyst at Hantec Markets, in a note.

"However, it appears that markets have developed into more of a consolidation and there will be fears that this could simply have been an unwinding move that provides another chance to sell," he added.

K5 detector wrote:

Facts check wrote:

Thanks for confirming my assertion.

Only a moron would not realize I copied and pasted definition of the word.

Ok, so you didn't know what 'moron' meant. Well now you know. Next time if you want to save yourself the trouble of looking it up, just look in the mirror. Hahahahahahahahahah

Talk about bringing a squirt gun to a shoot-out.

Agreed. That 'Facts Check' is in over his head. He needs help from the Igy troll. I can't believe that guy is still around.

looks like maser was right about db, now trading at 13.65 and dropping

lots of news about it and derivatives exposure and stress test failure, maybe it really is the canary in the coal mine

Add to DB Credit Suisse (CS), down 50% YTD, and falling again today. Keep in mind the European Banks have been buying EU sovereign debt as part of the ECB Asset Purchase Plan. Italy, Spain, Portugal, Greece, nearly impossible to pay back the mountain of debt. Italian and Spanish banks are trading vehicles, perhaps have negative market cap.

Igy

I'm up 5.47% on my bet on euro banks. this could be the trade I finally make money on.

Econ:

Chicago PMI, measuring mfg and svce companies - surged to 58 - the highest rating since january 2015.

jobless claims - 4wk avge in the same very low zone.

Ghost of Igloi wrote:

Maserati and agip,

End of Q2 Dow: 14,900.

Am I too Bearish?

Igy

quite

well halfway thru the year - Dow is at 17,738

some predictions for end 2016

Igy: 10,900

And Now: 11,800

Agip: 17,900

Big Dog: 17,425

So it looks like I am the big winner so far. Yee hah. US stocks up 2.2% year to date. snooze. (with a few major nightmares. )

if i missed your prediction, go back and quote it.

agip,

You have come thru the first half a little too fast. Anaerobic shock will set-in as you get thru the third quarter, Igy will pass you down the stretch to victory.

What were the high point statistics?

Igy

agip,

In defense of my prediction, using non-GAAP earnings, which as you know I think is bunk, the last time earnings were this low was 3/31/2013. Guess what the Dow was trading at?

Answer: 14,578.

Igy

Ghost of Igloi wrote:

agip,

You have come thru the first half a little too fast. Anaerobic shock will set-in as you get thru the third quarter, Igy will pass you down the stretch to victory.

What were the high point statistics?

Igy

I don't have the high point stats

the better metaphor is a cross country race where we went down into a valley, climbed back up, tripped over a root. Big Dog and I managed to get back up again to finish the 2nd lap of 4, but you guys have saved too much for the last laps, thinking somehow the 3rd and 4th laps will be harder than the first two.

Apostle wrote:

looks like maser was right about db, now trading at 13.65 and dropping

lots of news about it and derivatives exposure and stress test failure, maybe it really is the canary in the coal mine

To his credit, Maserati has reminded us that he did not predict what would happen to DB. He simply said to watch it.

agip,

Funny. I have actually done that before.

I remember at the start of the year we did a high, low and finish stat.

I see if I can find it.

Igy

Bring back the real Igy! This imposter can't write for shit.

Year End 2015 Predictions for 2016 Dow Jones Industrial Average:

Big Dog:

Close 17,425

High 18,351

Low 15,370

Igy:

Close 10,900

High 18,200

Low 8,900

agip:

Close 17,900

High 19,100

Low 16,800

coach d:

Close 21,500

didn't want to guess high and low

Actual High and Low first half 2016:

High 18,167

Low 15,450

OK, what are the predictions for quarter ending 9/30/2016? I don't want to scare anyone, so you better go first!

Happy Fourth of July all,

Igy

Igy detector wrote:

Bring back the real Igy! This imposter can't write for shit.

agreed

I hope the real igy is ok

OK, "I'll" remember to pay the proof reader next time.

Igy

agip,

It is actually me, just a little sloppy lately.

Igy

agip wrote:

Igy detector wrote:

Bring back the real Igy! This imposter can't write for shit.

agreed

I hope the real igy is ok

I am quite confident that he is fine and very much appreciates your concern.