It will be interesting to see what happens after the u. S. Labor day holiday and we get more bodies back in there. Lets dive a little deeper into the action with our markets reporters. Abigail lets take a closer look at a chart that we have been looking out bunch over the last week or so and especially today in different ways and that is making the point that august, the third is shaping up to be risk off. These are all futures. Manyrple, we have the futures, and yellow, we have gold futures, and white, yen futures. The month of july, all were basically flat and then after the fed meeting, stocks went lower, gold shooting higher, and bonds and the yen also trading higher. A lot of trade uncertainty in here overall, but over the Third Quarter, the s p 500 down 1. 5 . That haven has had it certainly and the Third Quarter and august, too, which is shaping up risk off. Look at workday which had a pretty terrible day and is down about 10 for the month. Take a look at this chart to look at t
Here today. That tai chi manufacturing that we got a couple of minutes ago was the weakest print we saw this year. It was still0, but showing the gradual slowdown we are seeing in global pmi. The official move that we saw in europe, in the u. S. As well, which is really supporting the Global Growth concern yard of that we are seeing. That is why we are seeing the yen up, 10 7. 60. Asia fx weakening with the dollar a little stronger. We see commodities. We are continuing to see some red when it comes to steal futures in shanghai copper. Lower by 9 10 of 1 . Be with thisng to rally. Looking at the u. S. Side of things with the 10 year yield below 2 . We are seeing for asia bonds as well. I will show you what else is going on, we mention about the u. S. Tenyear. Anese through three yield three year yields. We just got the news about the boj cutting purchases of bonds and a 35year range. Its the First Time Since 2018 that they have done so. They were trying to address the flattening yield
2016. The bulls and the bears duking it out. It is above 1400. Not above the true top of the range that follows the gold crash. This huge range, the this is a weekly chart. Goldhas actually confirmed for a move back down. All of this suggests that we could see gold drop down that just to that level but perhaps toward the bottom of this range. The gold bowls might the gold it suggests that the dollar may strengthen and we could be entering a risk on period. Sarah the s p 500 today once again and again new highs. Where we have not really seen a move higher is momentum, that at least by way of a relative strength index. Around 67ill stands or so. Still not through that 70 threshold that signifies markets might be overbought. How uncommon is it for stocks to make new highs when momentum isnt running rampant . The fact of the matter is that it is not that uncommon. You look at the past five times that the s p 500 date new highs, but with a five day period beforehand. You can see that four o
TheChristine Lagarde says ecb could need fresh stimulus. Shery a quick check of the markets closing, we saw fluctuations in the session. The s p 500 moved higher in the last hour of trading or so, moving to a record high. At one point it fell to session lows after we heard from the cleveland fed president loretta mester, saying she was not ready for cuts yet, which sent markets lower, but Communications Stocks are leading the gains on the s p 500. Volumes were lower, heading into the fourth of july holiday. Wednesday is a shorter trading day as well. The nasdaq finished 0. 2 higher, and u. S. Futures are unchanged at the moment. Lets see how we are setting up for the markets in asia. Kiwi stocks are under fire this morning, and looking at a potential retreat at the start of cash trade in tokyo and sydney. The aussie dollar staying steady this morning, in the wake of the rba rate cut. The governments secondhalf Economic Forecast to consider later today, export data looking shaky and poi
What lessons global economies can learn from japan. Lets kick it off with our market minutes today. I want to highlight something i was super excited to realize with my imac, and that is that we are now looking at 11 different Industry Groups today for the first time, this will go official for standard on september 16. It is already official. They have broken out real estate from a financial. Financials have done very well this year, but mostly because of the reads. They have done much better on a oneday basis. Financials are down half a percent. Telecoms are leading the way. Joe on the Government Bond fund, very quiet on equities. All eyes on the jobs report tomorrow. Here is a look at yields, the mining a little bit on that twoyear and 10 year. Not that dramatic. I want to look at the u. K. , reticular leotard of 10 year yields. You can see it taking up, way lower than it was prior to the brexit vote. We have more good data out of the u. K. , solid manufacturing data. And you do see