On Friday, March 6 the U.S. jobs report hit the wires.
Equities were trading higher in premarket, and the previous session we had seen strong sell-off followed by an equally strong high-volume rally. No one was expecting the massive sell-off that was about to hit the stock market when the good jobs numbers were posted.
Chicago Mercentile Exchange will reduce livestock trading hours from the current schedule of 23 hours to as few as six hours a day on Fridays, Bloomberg reported. The change is expected to be implemented later in October, pending CFTC approval.
Planters starting moving over the long three day weekend and the first trading day results in selling. This is something that many could see coming, if there is any surprise, it is how much selling was seen today.