05:50am    A very early start for me this morning sorting out some family stuff – plus no trading either as it’s Non Farm Payrolls day once again.

Ahead of the major U.S. employment numbers, the Dow Jones 30 and S&P 500 finished up after a bearish start caused by the previous Asian session and Europe was mostly ahead as well with the notable exception of here in the UK as we go into the final hours of the General Election.  Reporting on this at the moment shows that in all likelihood Cameron will return as Prime Minister and no matter what your personal opinion maybe, that is undoubtedly good for the economy so the markets should look favourably on the result.

Back to the U.S. Non Farm Payrolls announcement and considering the previous week’s ADP numbers all expectations are for a fall in unemployment in the world’s largest economy and this will undoubtedly increase expectations of an early Fed rate rise, so you could presume that markets may react negatively today after the initial rally ?

My U.S. WTI Crude oil daily chart shows a negative session yesterday after a reversal candle on Wednesday as we see some profit taking amid worries over Middle Eastern troubles again and UK Brent Crude is largely following suit although I can see the chart is showing some oversold traits so we may see a bullish reversal soon

Market Close Thursday 7th May 2015:   Dow Jones 30  -142.20 @ 17,928.20  S&P  500  -25.03 @ 2,089.46  NASDAQ  -73.22 @ 4,409.39  FTSE 100  -58.37 @ 6,927.58  UK AIM  -1.34 @ 751.68  DAX 30  -292.17 @ 11,327.68  CAC 40  -107.90 @ 4,974.07  IBEX   -313.50 @ 11,115.60   Nikkei 225 (Today)  +11.62 @ 19,531.63  Hang Seng (currently)  +74.88 @ 27,830.42