Good, Bad, Ugly Chart
Futures are modestly lower, Trump headlines dominated the newswires overnight, oil futures are up over 1% after the API reported a -5.1M bbl supply draw. As far as catalysts go today, the media will likely be fixated on the Cohen/Manafort drama.
Contrarian View: Emerging Markets
Stock futures are cautiously higher today as the dollar continues to pullback, the dollar is down another 30 basis points+, British CBI Industrial Trends Survey was a mild miss at 7 vs. (E) 10, and more.
U.S. & China Trade Progress?
Markets will stay focused on 1) Trade headlines, 2) The dollar and 3) the tech sector. Trade should stay quiet into the U.S./China meetings Wed/Thursday. The dollar is bouncing from Friday’s declines and sustained dollar weakness remains the biggest key to a breakout in stocks, so any weakness there will be welcomed by investors.
Worried About Tech
If tech can stay stable despite recent soft earnings, and the dollar doesn’t rally, then stocks can generally hold yesterday’s gains.
Updated Market Outlook: Good, Bad & Ugly
Market Update: Futures are enjoying a modest bounce, the WSJ reported a mild “breakthrough” occurred on U.S./China trade, On earnings, CSCO posted strong numbers and more.
Is the Turkey Crisis Over?
Futures and most international markets traded lower overnight as contagion fears from Turkey’s currency crisis persist despite further gains in the lira.
The Rotation Out of Tech Continues
/in Investing, Reports/by Tom EssayeWhat’s in Today’s Report: The Rotation Out of Tech Continues