Friday | Market Rundown
Good Afternoon.
Today:
Market Rundown
Starbucks, airlines, oil, miners, macro, technicals, Kolanovic, CTA stuff
1- Market Rundown:
Good Afternoon. The dollar is unchanged. Bonds are stronger and stocks are looking at a nice day with the Nasdaq up over 2%, the S&P up 1.2% and the Dow up 50bps. Gold is up 6 bucks and Silver Fu. are up 17 cents. Crude oil is up $1.10 and Nat Gas is down 4c. Bitcoin and Ethereum are up 1.4% and 2.5% respectively
Comment: The market has been taking hits from poor earnings ( some banks) only to rally on job cuts by tech companies (Google) and very dovish talk by the Fed. It all looks like the Fed will do 25 bps going forward if that, and they aren’t afraid to say it even with stocks not tanking for a change.
MONDAY, JAN. 23
10 am Leading economic indicators Dec. -- -1.0%
TUESDAY, JAN. 24
9:45 am S&P U.S. manufacturing PMI (flash) Jan. -- 46.2
9:45 am S&P U.S. services PMI (flash) Jan. -- 44.7
ANALYSIS/CHARTS BELOW…