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The market looks like it’s attempting another turnaround Tuesday with many investors anticipating a strong earnings season. Data and earnings are a bit light today, so Washington could remain in focus.
Last week featured a “turnaround Tuesday” after a rough start. Can the same thing happen today? So far, there’s signs of it despite the fact that news-wise, not much has changed since yesterday when stocks sold off. People are anticipating a good earnings season and the market is overall kind of ignoring the Washington drama. At the same time, bond yields continue marching upward and volatility edged lower overnight. The 10-year yield hit 1.17% this morning, the highest in 10 months, and crude climbed above $53 a barrel for the first time in 11 months as investors anticipated anothe...