Fridays have typically been strong when such green lights have emerged and although stocks finished higher, it was broadly a lackluster session. What changed?
Today’s CPI data is due at 7:30 a.m. CT and has haunted markets all week. With this in sight, the S&P, Nasdaq, and Dow have each struggled to carry bullish tailwinds from last Friday’s Goldilocks jobs report.
Each day on the European market opening Anthony Cheung, Sam North, and Amplify Trading gets you prepared for the trading day. They focus on relevant macroeconomic insights and trade idea generation for the global macro futures markets.
Lower rates in the Tech sector come ahead of tomorrow’s pivotal inflation data, but it also highlights our ongoing discussion; we might be seeing peak inflation right here, right now.
This week builds up into Thursday’s monumental inflation data, ECB meeting, and Initial Jobless Claims. Portfolio managers and traders want to be long risk assets such as stocks and commodities, but fear inflation that has begun to run hot.
Turnaround Mondays have often become expected after strong Fridays. There was certainly a green light on Friday, but has the Nonfarm Payroll enthusiasm already dissipated?
Anxieties regarding longer-term inflation have entered the spotlight. The Fed’s easy-money policies and government stimulus spending had juiced growth and momentum into an epic bull run over the last year. However, these equity factors now face substantial risks from bond market volatility.
It’s Jobs Friday and today’s Nonfarm Payroll report for May will prove pivotal. It comes on the heels of April’s disappointment, and those Federal Reserve officials who are more hawkish have again begun talking about tapering bond purchases.
Each day on the European market opening Anthony Cheung, Sam North, and Amplify Trading gets you prepared for the trading day. They focus on relevant macroeconomic insights and trade idea generation for the global macro futures markets.
U.S. benchmarks are now pointing lower and working their way through supports ahead of the bell. Despite exuding a bullish tone, we’ve warned that an inability to hold higher prices will encourage a probing lower.
