(Source: markets.businessinsider.com)

child trader trading floor nyse

Brendan McDermid/Reuters

Dave Lutz, head of ETFs at JonesTrading, has an overview of markets this Monday:

Here’s Lutz:

Good Morning!  US Futures in rally mode, with mega-tech leading us to upside as NDX gains 60bp into the White House meeting of Tech Executives.   AMD, NVDA, AAPL, AMZN all up ~1%+ carrying the sector north.   All Green in Europe, where the DAX is up 90bp and just off all-time highs – France jumping 1% as Macron padded his majority in the French Assembly – Fins leading, while retailers seeing a tentative rebound.  Industrials are jumping behind third Point/Philips headers, while Autos are in rally mode.  FTSE up 50bp with Ocado rallying in London as AMZN-WFM sparks animal spirits/   Volumes are pacing a “summer Monday” level tho, with most exchanges 10-20% light in turnover.   Strong rallies in Asia, with Nikkei up 70bp – Hang Seng up 1.2% – Shanghai up 70bp ahead of MSCI decision tomorrow, and Aussie up 50bp despite retailers getting smoked on AMZN, and Moody’s downgrades their banks 

The 10YY remains at a depressed 2.15% level into Multiple Fed Speakers this week, but the DXY is starting on the back foot. Sterling above 7-month lows as Brexit talks begin, while Euro jumping on yet another populist electoral defeat. $/Y higher on weaker export data, while the Greenback is gaining against Aussie as the Bank downgrades weigh. Ore up 2% on headers of Wealth Management firms being allowed to invest in metals – that is dragging Copper 1% higher, while Gold drifts near one-month lows.   Oil hovering just above 6-week lows, while Gasoline is adding 1% after last week’s inventory inspired weakness.   Natty tho is getting smoked for 5% as milder weather in the mid-west sparks selling.

More Info: markets.businessinsider.com

Advertisements