A Tale of Two Trades
What’s in Today’s Report:
- A Tale of Two Trades
Futures are slightly lower as markets digest Thursday’s rally following a very quiet night of news.
Economically, the only notable report overnight was Chinese PPI, which feel –4.6% vs. (E) -4.2% and provided the latest sign that global disinflation is potentially accelerating.
Politically, former President Trump was federally indicted for illegally retaining classified documents, although that shouldn’t impact markets.
Today there are no economic reports and no Fed speakers, so near term technicals should drive trading with all eyes focused in whether the S&P 500 can break above 4,300 for the first time in over a year.