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Friday, August 19, 2022

Futures Slide In Early Trading

For once, the spreadbetting estimate of where Dow futs would be on Sunday was correct, and with IG expecting a drop of -230 points several hours ahead of the market open... ... that's precisely what we got at 6pm ET when Dow futs opened down 250, Spoos were -30 and the Naz -80. Why the…

Futures Tumble Below 3,000 After China Warns Of “High Virus Resurgence Risk”

On a day when more than 20 US states are seeing a pick-up in cases, Tokyo reported a jump over the weekend and a fresh outbreak in Beijing prompted officials to close a market there, futures are tumbling, with Eminis down more than 40 points to 2,980 the lowest level since the start of June.…

Futures Jump Above 3,200; Brent Surges As Dollar Selling Accelerates

The risk-on euphoria in the aftermath of Friday's blowout payrolls report, errors and all, has continued on Sunday night - as hedge funds (net exposure at 2 year highs), joining the retail army - and S&P futures have jumped back above 3,200 and are on pace to not only take out Friday's intraday high of…

Futures Slide After Senators Propose Legislation To Sanction China If No “Full Accounting” For...

Just hours after futures tumbled following a report that Republican Senator Graham and GOP Senators have introduced a bill sanctioning China for human rights abuses and over its treatment of Uighurs, moments ago futures took another leg lower on the back of an AFP report that Republican senators proposed legislation that would empower President Donald…

Futures Slide After China Punishes Australia Over Coronavirus Origin Probe, Bans 35% Of Beef...

At the end of April, China sparked a diplomatic row after it threatened Australia with an economic hit if it doesn't stop investigating the origins, and Beijing handling, of the coronavirus pandemic. As a reminder, Chinese Ambassador Cheng Jingye told Sky News that while China's response may not have been "perfect," Australia's inquiry was "dangerous,"…

Gold Futures Extend Gains To 8 Year Highs After Pelosi’s Trillion-Dollar Promise

COVID-19 appears to have impacted the deep fiscally-conservative regions of the brains of politicians more than many suspected possible as left, right, and center seem to be coalescing around the fact that moar spending is better, moar helicopter money is even better-er, and moar zeros in the national debt is better-est! Live look at Dow…

Futures Surge As Trump Touts “Glimmers Of Hope” In Italy & New York

Officials in New York and Italy reported notable declines in new cases and deaths on Sunday, helping to inspire the most positive reaction in futures to kick off a new trading week since the 'rona rout. Futures surged out the gate as President Trump struck an upbeat tone during Sunday evening's press conference (even as…

US Equity Futures Are Plunging… Again

It is unclear what the immediate catalyst is this time - aside from the fact that we are now outside of the stock-trading-machines reach - but US equity futures are plunging in early Asia trading. Dow futures are down 650 points... Erasing most of the day's gains... "...and suddenly millions of bailout-demanding voices cried out…

Nasdaq, Dow, S&P Futures Surge Limit-Up, Erasing Trump Presser Melt-down

Another overnight session that reverses trend entirely from the day session... and another limit-up futures halt... Nasdaq futures are limit-up... once again... S&P futures are limit-up... And for context, Dow futures (are limit-up) have erased the late-day melt-down during Trump's presser, up almost 1000 off the lows...

Yuan Hits Record Low, US Futures Tumble As China Trade-Talks Stall

Having managed to scramble back up to almost unchanged, headlines confirming that US officials rejected China's request to delay Sept 1st tariffs and, more importantly, that US and China are now struggling to set a September meeting for trade talks, have sparked a plunge in US equity futures and offshore yuan. Bloomberg reports that Chinese…
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