Stock futures dropped 11 hours earlier after a data leak of TIC Long-Term Purchases being far worse than expected
Actual: -29.3B Estimate: 42.3B Previous: 28.7B
S&P Futures dropped from 1844 (S&P 500's 1850) & even broke below 1840 before economic news
Data officially confirmed @ 9am EST, S&P Futures rebounded higher as the bad data is already priced in when it dropped earlier, but it's still staying below 1840 before the market opens
Trading signal to watch: Buy S&P Futures @ 1840 is invalid as support is broken, avoid or trade at higher risk if it goes back above
8:30am EST's economic data are only in line with expectations & might not be good enough to help S&P 500 break above 1850
Citigroup's earnings report worse than expected, Goldman Sachs' earnings better than expectations, BlackRock posted higher than expected profits but Best Buy's holiday sales were worse than expected, sending Best Buy's stock to drop more than 30%
Economic data & earnings reports are mixed, S&P 500 might not be able to break & stay above 1850 today
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