Technicals

U.S benchmarks firmed-up yesterday from Friday’s late selloff and are extending gains this morning after President Trump announced a bipartisan deal to lift the debt ceiling and boost spending.
Friday was both fundamentally and technically disappointing for Gold. The metal rallied $14.5 on the week to $1426.
Crude Oil is up about 1% this morning but trading off its overnight high of 57.04. Price action was suppressed through much of Friday until news broke that Iran seized a British tanker.
U.S benchmarks slipped sharply into Friday afternoon as Fed rate cut expectations for next week’s meeting were toned down. The table was really set Thursday afternoon when NY Fed President Williams said the Fed should act preemptively to battle slowing growth.
The Federal Reserve is in the driver’s seat and yesterday’s rip higher was the latest example. NY Fed President Williams said the central bank should act quickly and preemptively to fight economic slowdowns.
U.S benchmark finished lower yesterday, a day after President Trump poured cold water over trade hopes. One topic at our trade desk yesterday morning was the resilience in U.S Treasuries ahead of U.S hours, as if they were the canary in the coal mine for a weak session to come.
S&P 500 finished lower yesterday. Comments from President Trump yesterday on trade with China that sent stocks lower.
U.S benchmarks are holding ground at record levels ahead of a deluge of bank earnings, economic data and Fed speak. Citigroup kicked things off yesterday beating top and bottom-line estimates but finished near unchanged.
There once was a time not too long ago that you did not want to be short Crude Oil into the weekend with escalating geopolitical tensions.. Last night, President Trump authorized a military strike on Iran but called it off after back-channeling through Oman and letting Iran know that Washington would rather talk.
Traders Quadruple Witching Friday. S&P 500 futures are off their highs as tensions escalate between the U.S and Iran