What’s in Today’s Report:
- Why This Is a Glass Half Full Market (For Now)
- Why GE and Chinese Economic Data Were Important Yesterday
Our regular editor is out today so my apologies for any uptick in typos.
Futures are modestly higher following more optimistic chatter on U.S./China trade and Chinese economic growth.
Chinese officials again reiterated support for their economy overnight and that, combined with renewed optimism for a U.S./China trade deal, sent futures higher. But, I do want to point out that nothing materially new happened overnight – it was jus more of the same commentary we’ve seen for the past month or so.
There were no notable economic reports overnight.
Today focus will be on economic data as we get our first look at March activity via the Empire State Manufacturing Survey (E: 10.0) along with Industrial Production (E: 0.4%), Consumer Sentiment E: 95.0) and January JOLTS (E: 7.155M). Again, the stronger the data, the better for stocks.
Finally, today is “Quadruple Witching” options expiration so don’t be surprised by some volatility, especially into the close.