Four Reasons the “Pause” Is Not Yet a Bullish Gamechanger
What’s in Today’s Report:
- Four Reasons the “Pause” Is Not Yet a Bullish Gamechanger
Futures are slightly lower this morning while global markets were mixed overnight as investors assessed prospects for a potential ceasefire between the U.S. and Iran.
Economically, the Eurozone’s Flash Composite PMI fell to 50.5 vs. (E) 50.7 in March from 51.9 in February highlighting a potential slowdown in global growth is taking shape.
Looking into today’s session there are several economic reports to watch including the Flash Manufacturing PMI (E: 51.3), the Flash Services PMI (E: 52.1), and the Richmond Fed Manufacturing Index (E: -5.0.).
Additionally, there is one Fed speaker to watch: Barr (6:30 p.m. ET) but his comments will come after the close and therefore will not impact today’s price action but could move futures markets this evening.
Finally, there is a 2-Year Treasury Note auction at 1:00 p.m. ET and based on the recent rout in the bond market, the stronger the demand the better for stocks in the near-term.