What’s Driving this Rally in Stocks?

/in , /by

What’s in Today’s Report:

  • What’s Driving This Rally in Stocks?
  • Weekly Market Preview:  Can Yields Stay Low (And Push Stocks Higher?)
  • Weekly Economic Cheat Sheet:  Flash PMIs on Friday are the Key Report This Week

Futures are modestly lower as markets digest last week’s rally following a quiet weekend of news.

There was no notable domestic or international economic data or central bank speak over the weekend.

Bitcoin volatility is weighing slightly on some momentum stocks like TSLA as Bitcoin fell more than 19% at the lows this weekend, although it’s since recovered somewhat.  However, the decline came on very low trading volumes.

Today there are no economic reports and no notable Fed speak, so focus will be on Treasury yields and if they can continue to stay low, and in doing so help support this rally in stocks.  Earnings season also continues to move forward, with some notable reports today: KO ($0.50), IBM ($1.67), UAL (-$6.97).