Ahead of the monster September jobs report, S&P futures began to tick upward in an almost uni-directional move. And some call that an indication that some major players in the market got the bullish information early.
"I don't know of any issues or problems with the release of the data this morning," said Gary Steinberg, Bureau of Labor Statistics press officer.
At 8:30 a.m. ET, the Bureau of Labor Statistics reported that 248,000 jobs were created in September, and the unemployment rate fell to 5.9 percent (well above estimates of 215,000 jobs and 6.1 percent unemployment). They also significantly revised upward the July and August jobs numbers. The move sent S&P 500 futures on a significant rally, and seriously punished Treasury note and gold futures.
Read More US created 248,000 jobs in Sept
But several traders' eyes were drawn to the move that S&P futures made ahead of the report. From 7:32 a.m. to 8:06 a.m.. the S&P e-mini December futures rose steadily and without much hesitation. In that time period, the S&P futures were positive in 13 minutes, and negative in only five (the rest of the minutes were unchanged).
"Looks like a blatant leak to me," said Jeff Kilburg of KKM Financial.
"There are definitely people who are saying there was a leak," noted Jim Iuorio of TJM Institutional Services. "I think there's a solid chance of that."
However, Iuorio would bet against a leak, given that knowing the number wouldn't necessarily be enough to gauge where the market would go. Indeed, the futures initially fell at 8:30 a.m. before turning around, likely due to initial concerns that the number would lead the Fed to raise benchmark rates earlier than previously anticipated.