daytrading 26 july pre market

Good morning traders.

Traders will be looking at a relatively flat open as the ASX SPI futures are printing at a benign -3 pts

The S&P 500 rose 0.3 percent to 1,690.31 at 4 p.m. in New York, after earlier falling as much as 0.4 percent. The equity benchmark completed its first two-day drop in a month yesterday after rallying to within two points of 1,700.

“For a good part of this year, people have been looking for an acceleration in the economy in the second half,” Jim Welsh, who helps oversee $5.7 billion at Forward Management LLC in San Francisco, said in a phone interview. “What we’re starting to see is the tug of war between investors acknowledging that P/E ratios have expanded over the last couple years and now in order to see P/E to go even higher, we’re going to need to see more revenue growth.’

The benchmark gauge rose to session highs today after a Wall Street Journal article suggested the central bank will reassure investors it won’t be quick to raise interest rates at its next policy-making meeting on July 30-31.

Face book had a huge day to help the Nasdaq to become the best performing index of the majors.

Surging demand for mobile advertising helped profit and revenue top analysts’ estimates in the second quarter yesterday. The results sent shares of the world’s most popular social-networking service up 30 percent, a record one-day gain, to the highest level since May 2012.

Major European markets never got off the canvas finishing in the red though off the days lows.

DOW +13 pts

SPX + 4

NAS +25

FTSE – 32

DAX – 80

Comex gold futures ended the U.S. day session moderately higher Thursday, gaining after trading near steady levels fetched overnight. A lower U.S. dollar index was a bullish outside market factor for the precious metals Thursday. More backing and filling on the charts was also seen.

GOLD + $7 ….. $ 1329

GDX + 0.96 %

Canadian-based Goldcorp Inc. (TSX:G)(NYSE:GG) released a whopping net loss in its second quarter earnings, largely in part to a $1.96 billion impairment charge at its Peñasquito Mine in Mexico.

WTI crude up 16 cents ….105.49

Copper flat …3.19

USD index down over half a cent to 81.69

Have a good day and best of luck.