Index

The Nasdaq-100 index closed at a fresh record yesterday, and the S&P 500 battled to settle positive, 1% off its overnight low. This sounds like a healthy session, but not for anything other than tech behemoths.
Yesterday, the S&P 500 index failed to tag its record high from February 19 by 2 points and began slipping after the release of the FOMC minutes. With the failed high under its belt, the Federal Reserve’s reluctance to implement yield curve control weighed on risk-assets broadly and strengthened the U.S. dollar.
After battling a very brief stint with volatility early yesterday, the S&P 500 index and Nasdaq-100 extended their ranges higher into the close. The S&P 500 finished one quarter of a point below its all-time closing high from February 19.
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.
Home Depot’s 2nd quarter report early this morning reinvigorated a quiet overnight tape. The “do it yourself” narrative during the Covid-19 pandemic was a key driver for the company whose sales and profit surged by 23% and 25% from a year ago.
In recent weeks, there have been mixed messages from China’s central bank; reports have signaled the potential of both more direct measures and a tighter approach as the economy recovers. With the U.S.-China relationship falling apart at the seams, news of China’s stimulus boosted the Shanghai Composite index by 2.34% overnight.
U.S. benchmarks are paring overnight weakness and heading into the open near unchanged. The S&P 500 index is 1% from its February 20 record and failed to achieve a new swing high yesterday by half a point before softening into the close.
U.S. benchmarks are pointing higher ahead of the bell. Yesterday, the S&P 500 index  traded to the highest level since setting its record on February 20 but closed below the low of Monday and Friday.
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 pointing to modest overnight gains after President Trump announced 4 executive orders over the weekend to extend unemployment benefits and defer payroll taxes. China is  making waves at the onset of the week after arresting Jimmy Lai, a wealthy Hong Kong media mogul, on suspicion of collusion with foreign agents.