Equities on Wall Street traded mostly flat in the premarket session on Thursday, with investors waiting for the latest batch of economic reports to give an indication of the state of the economy in the United States. Before markets open, the initial jobless claims for the week prior and August retail sales data will be unveiled, while the July business inventories are due to be out after the opening bell rings. Meanwhile, the US Securities and Exchange Commission said it will release a report on volatile “meme stocks,” The Dow Jones and the S&P 500 both traded flat at 4:24 am ET. The Nasdaq 100 decreased 0.13% a minute later. The euro declined 0.34% against the dollar trading for $1.17764 at 4:26 am ET.
U.S. stock index futures fell slightly after a strong rally in the previous session, with investor focus shifting to upcoming data on jobless claims and retail sales for a better reading on the ongoing economic recovery. Wall Street indexes marked strong gains on Wednesday, with economically sensitive cyclical stocks benefiting the most from a rally in oil prices and data suggesting that factory activity growth remained steady in the country. Nick Note: I am not convinced the back of this bull market bubble rally has been broken. I am looking for a 5000 to 10,000 point drop in the NASDAQ 100. Yes you read that right. It could well be our most profitable trade ever. Look its not a walk in space without a tether….. Its been the biggest fastest up move ever. And time and time again in fact every time their is a massive bull market boom their is a massive bear market bust……