sp'daily5
Summary
Opening minor weakness, but overall, its almost certainly just another little tease to the bears.
Eyes on Oil today... with the EIA report at 10.30am. It'd seem - via yesterdays API report, that inventories will come in somewhere in the 3-6 million range... which should pressure Oil a little.
However, Oil still looks set for the $60s.. which is a clear 10% higher... and that will help the broader market in May.
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Doomer chat... Hunter with Ackerman
It is interesting that Acker' is seeking the DXY 120s... as I am. Although I am seeking a retrace first to 93/92.. perhaps even a little lower this summer, before a hyper-ramp.. as the Euro implodes later in the year.
However, I completely disagree that any int' rate rise will kill the economy/system. Far from it... higher rates will help inspire confidence (even in the Fed itself). If you think negative rates are a good thing, then you really have fallen in love with Fed policy, and there is no hope for you!
*Watch the USD... just need a break under 97.50... to break (sideways) out of the uptrend.. that stretches back to last May.
In early trading, DXY -0.2%... @ 97.83.
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Good wishes for Wednesday trading!
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8.48am... notable early movers... all on earnings...
BA -1.4%
KO, MCD, both higher by around 2.1%
... that is helping the Dow, which is now set to open +60pts or so.
sp'500... now set for -1pt @ 2096.