Here's a super quick guide to what traders are talking about right now
Good Morning! US Futures are starting weaker, with the S&P marked off 40bp. A pullback certainly feels overdue, with the VIX down 10 in a row, matching a record - and the DJIA posting it's first 7day winning streak in 3 years - but JNJ kicks off big earnings week by saying they will buy back $10B, so let's see how the bulls respond. Over in Europe, weak Chinese trade data is whacking China exposed equities- Miners, Steelmakers and Luxury Goods providers are all sharply lower - While those Euro Banks are off over 2% on average. The DAX is off 1%, led by Consumer Discretionary and Materials - while Glencore and Miners weigh heavy on the FTSE - but headlines SABMiller agrees to AB InBev are helping sentiment. Over in Asia, the Nikkei lost 1% as the Yen got upward legs - but Shanghai managed a small gain. Most Emerging Markets were weaker, led by a 3% drop in Indonesia. Aussie was off only 50bp, impressive due to the weaker China Trade Data.The US 10YY her been under sharp pressure overnight, playing catch-up on Bund Strength yesterday - but bouncing off that 2.04% level again earlier this AM. The DXY is basically flat against the basket, with the Euro registering small gains despite a very weak ZEW survey in Germany. The Aussie $ is the biggest loser against the greenback due to its China exposure and recent upward move - but all those Petro Currencies are a bit weaker. The $/Yen continues to struggle to get upside 120 in the early go. Industrial commodities are a bit weaker, led by 1%+ drops in Silver, Platinum, and Nickel - While the Oil complex is not rebounding from yesterday's sharp hit despite IEA warnings that the Oil market glut will persist through 2016 (Reminder API is tomorrow night and DOE Inventory data Thursday). Most of the softs have a bid as headlines persist on El Nino's impact into Agriculture Commodities.
- Airtel's India business is back in the black after a very long time
- Sequoia and PayPal-backed Pine Labs completes a first close of $285 million funding round from new investors
- BJP spent significantly less on advertising during Kerala elections this year, its ad insertions on TV, Radio and Print decreased from 21% in 2016 to 1% in 2021
- Google I/O 2021: Here's what to expect from Google's biggest annual conference
- ISRO announces its decision to share technology to make portable medical oxygen concentrators developed by VSSC