Good morning. US equity futures are moderately lower, sp -7pts, we're set to open at 2026. USD is seeing a minor bounce, +0.3% in the DXY 94.80s. Commodities are under pressure, Gold -$3, with Oil -1.6%.
So... opening declines, but nothing significant.
Further upside into the sp'2040s looks rather easy this week. The only issue is whether we see any daily closes 2060 before end month.
In my view, the biggest threat to the equity bears this week will be the ECB (Thursday). If there are any serious threats of lower rates and/or increased QE, the market will likely jump at least 1%.
Doomer chat, Hunter with Nenner
As ever.. make of that... what you will.
Overnight Asia action
Japan: -0.9% @ 18131
China: -0.1% @ 3386, having briefly hit 3423. The 3400s are clear resistance,.
Have a good Monday