What’s in Today’s Report:
- Why I’m Buying Some Stock in My IRA Today
- Weekly Economic Cheat Sheet
- Weekly Market Preview
Futures are seeing a modest oversold bounce following a generally quiet weekend.
If there is a “reason’ for this modest bounce in futures it was the administration trying to reassure investors over the weekend. Treasury Secretary Mnuchin tried to calm markets by 1) Stating Trump knows he can’t fire Fed Chair Powell and 2) Calling the heads of major U.S. banks to ensure there were no liquidity problems (there weren’t).
There was no notable economic data or U.S./China trade updates over the weekend.
Today there are no economic reports and no Fed speakers, and the markets close early (1:00 p.m. ET).