Stocks shine while traders tarnish on Treasuries!
Stock index futures rose for the third consecutive session, with S&P 500 futures hitting nearly 2-week highs as traders returned to the equities markets. September S&Ps closed up 21.10 to end the session at 1503.50, while September Dow futures closed up 157 at 13705, and September NASDAQ 100 futures ended the day up 26.00 for an even 2000.00.
Treasury futures tumbled, as flight-to-quality buying ceased and a disappointing 10-year Note auction weighted on prices. September 30-year bonds closed at 108-30, down 1-08, and September 10-year Notes closed at 106-275, down 0-225.
Economic Data Scheduled for Thursday, August 9, 2007
(All times are U.S. Central Time)
U.S.
7:30 AM: Initial Claims for week ending Aug 4th(Consensus 310,000)
Canada
7:30 AM: June New Housing Price Index YoY (Consensus 0.7%)
U.K.
3:30 AM: Total Trade Balance for June (Consensus -3.900 billion)
European Union
3:00 AM: ECB publishes monthly report (Aug)
Japan
6:50 PM: July Domestic Corporate Goods Price Index MoM (Consensus 0.6%)
