Futures spike just before US jobs data raises eyebrows
Call it a Tuesday morning market mystery – why did so many futures prices seem to move before the Department of Labor released the jobs report this morning?
According to Eric Hunsader of Nanex, a wide range of futures moved before the 8:30 a.m. release time of the jobs report.
(Read more: High-frequency trading)
Some of them moved as much as 500 milliseconds before the news – plenty of time for high-speed computer traders to rake in profits before the rest of the market.
What's not clear is what caused the moves – is this an indication of lucky betting by some savvy futures trader? Or is it an indication that information changed hands before it was supposed to?
(CNBC Explains: HFT)