Short Covering!

S&P 500 finished the day with a loss of 1.37% at 931.76. There was a buying effort in the last 20 minutes of the trading. S&P was oversold earlier today. One might suggest that this was an effort to cover short positions and take profit.

All the eyes now turned to the chain store sales tomorrow. It will be released at noon. But before that, at 8.30am, comes the jobless claims. Market is very sensitive to this report lately. Jobless claims shows the number of individuals who filed for unemployment insurance for the very first time.

Also coming tomorrow is the 10-year note announcement at 11am.