U.S benchmarks are sharply higher this morning and make no mistake, strong economic data yesterday offset budding fatigue that could have easily taken the S&P through strong support.
True volatility is increasing daily; after a sharper reversal yesterday of Tuesday’s reversal, the S&P finished down 3.1% and its Average Daily Range is above 50 for the first time since January.
President Trump announced he will delay additional tariffs on China until December and the risk-appetite responded. U.S benchmarks rallied sharply with the S&P gaining 1.8%.
U.S benchmarks are pointing lower with a number of factors weighing on sentiment.
U.S benchmarks are pointing lower to start the week with a number of factors weighing on sentiment.
After taking a two-day breather from the headlines, the trade war is again heating up. Given the depth of yesterday’s rally though, this is so far a minor pullback.
Remember, the S&P 500 futures were upbeat early yesterday before a sharp fallout just ahead of the bell.
Global recession fears are being echoed loud and clear after three central banks (from New Zealand, India, and Thailand) cut rates and German Industrial Production fell sharply.
U.S benchmarks suffered their worst day of the year Monday and extended losses early last night after the U.S Treasury labeled China a currency manipulator.
Yuan to breach the psychological 7-level and hit the weakest level against the U.S. Dollar since April 2008.