Despite the massive beat, a gloomier market backdrop could’ve zeroed in on founder and CEO Jeff Bezos stepping down and marked it as a negative. Instead, the stock is up more than 2%, breaking out of a technical wedge.
The macro-sentiment of late has been slowly moving in a positive direction as more is learned about the vaccination process. More reopenings and fewer lockdowns will be supportive for the “foods” prices in commodities.
2021 could see a commodity bull market return— soybeans would be a commodity to watch. There are plenty of fundamental stories to keep the trade interesting, as well as solid technicals to guide investors as prices continue to climb.
The flood gates opened through yesterday’s Federal Reserve policy meeting and U.S. benchmarks closed sharply lower. The committee left policy unchanged, but the risk landscape has been on shaky footing due to ongoing fiscal policy delays in Washington.
The U.S. jobs picture has certainly deteriorated in recent months and many questions overshadow both the U.S. and Eurozone recovery. This morning, German Ifo Business Climate and Expectations data all fell short of estimates