As global markets rally higher on Tuesday, we focus on the improving macro and how this is supporting expectations of policy change.
Europe continues to be a bright spot strong composite PMI data joined yesterday’s inflation readings that were bullish in their strength. We are growing increasingly concerned about overbot technical positioning of the SPX. We put this in a historical context.
The Fed is adding upward pressure on the Dollar yet we have seen some decoupling between a stronger DXY and commodity prices and EM asset pricing. This morning Oil and Copper lead commodities higher but plenty of skeptics about the (also) overdone oil positioning. Meanwhile what is good for copper is not necessarily what’s good for Freeport McMoran. We explain.
US Retail earnings reports out today underscore what’s been working and what will be challenged. Fade the Walmart result? Is Home Depot only just starting to get its mojo? …Tune into your account for more information.
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- Your first trade for Thursday, October 19Source: Fast MoneyPublished on 2017-10-19
- 775 mln Chinese students receive financial aid over past decadeSource: China.orgPublished on 2017-10-19
- China to standardize elderly care servicesSource: China.orgPublished on 2017-10-19
- China-made jetliner performs well in test flightSource: China.orgPublished on 2017-10-19
- 440 senior officials investigated for corruptionSource: China.orgPublished on 2017-10-19
- Private universities increasingly important in ChinaSource: China.orgPublished on 2017-10-19
- China to make new breakthrough in quantum communicationSource: China.orgPublished on 2017-10-19
- Chinese doctor saves passenger on US tripSource: China.orgPublished on 2017-10-19
- It isn’t tax reform, earnings are driving this rally: StrategistSource: Fast MoneyPublished on 2017-10-18
- CPC creates Xi Jinping Thought on Socialism with Chinese Characteristics for a New EraSource: China.orgPublished on 2017-10-18
- Xi calls on HK youths to serve HK, countrySource: Xi calls on HK youths to serve HK, countryPublished on 2017-06-30
- Your first trade for Thursday, October 19