Good morning. US equity futures are moderately lower, sp -13pts, we're set to open at 1927. USD is cooling, -0.3% in the DXY 99.20s. Metals continue to claw higher, Gold +$5. Oil is retracing after last weeks strong gains, -3.3% in the $32s.
Last Friday's gains were even stronger than I was anticipating. Considering the size of the gains, its not entirely surprising we're retracing some of them to begin a new week/month.
Broadly the sp'1970s still look very viable next week. Indeed, right now, next Wed'/Thursday (Yellen is set to appear) look prime time for a market short.
notable early movers...
TVIX +1%... which is very minor, relative to the index decline. It does not bode well for the equity bears today.
RIG/SDRL -3.8%... as energy prices see renewed declines
TWTR +7.5%... buyers on the back of FB ?
Econ chatter, Mr Long with Mr Rubino
For those with an interest in the macro-economic picture, this is rather good.
More Econ/doomer chatter, Hunter with Stockman
As ever... make of that, what you will. I sure don't agree with all of it.
Japan: solid gains of 2.0% @ 17865
China: another unstable session, -1.8% @ 2688
Germany: currently -1.1% @ 9688
Have a good week