After a busy 2 days on Capital Hill, Bernanke is back in the turret and futures are surging. ;)
That resistance at S&P 1314 will be smoked in premarket - as almost any resistance level the past 2 years has been taken care of.
Weekly jobless claims came in at a 368,000 - the lowest we've seen in some 2+ years.
Amazingly, after quarters of incredible productivity growth out of the U.S. workers we still saw a 2.6% print today for the fourth quarter. Which is good on the surface but when you combine it with a 0.6% drop in unit labor costs, it continues to paint a fantastic picture for corporate profits but not so much for the labor force.