Fed Day

Futures are positive on this Fed day helped by strength in overseas markets, another decline in the U.S. dollar and an increase mortgage applications.

For the most part, reaction to this morning's jobs data has been muted. According to Challenger, planned layoff announcements fell to the lowest total since March last year and the ADP employment report showed that nonfarm private employment decreased 203,000 which is a tad higher than the 198,000 losses expected. Economists are currently expecting tomorrow's jobs report to show a loss of 175,000 jobs.

Read more of my premarket report.