Dave Lutz, head of ETFs at JonesTrading, has an overview of today’s markets.
- US markets are in the green Thursday morning.
- European markets are mostly higher.
- Bitcoin races above $US15,000 a coin.
Morning! US Futures Are in the green, with Spoos trying to break their longest losing streak since March. For the first time (it seems) in a week, Nasdaq Futures leading to upside, adding 25bp early but the bid is fading as more US traders finish their coffee. All Green overseas, where Tech is rebounding in Europe, but coming in off session highs. Banks acting well, but fading the trading day continues. DAX up 20bp, but Volumes down 32% from normal trends. London is unch as Miners weigh. Mixed bag in Asia, Nikkei up 1.5% as Nintendo and Tokyo Electron jumped – Hang Seng added 30bp as Tencent added nearly 2%, but Chinese Autos and energy lagged – Shanghai dropped 70bp as concerns about a leverage crackdown mount – KOSPI off 50bp despite Sammy rebounding 1.5%, while Aussie added 50bp as they cheered ASX embracing Blockchain down under.
The 10YY drifting near 2.35% ahead of tomorrow’s NFP print, while the 1YY nearing 9year highs ahead of the Fed Hike next week. The Dollar is adding to Yesterday’s gains, nearing 2week peaks as Euro breaks further under $US1.18 on a Drop in German industrial production – The Yen is weaker on Kuroda comments, while the A$ breaking lower on weaker trade figures. With the Dollar strength, Gold Nearing 4month lows and back southside 200dma, while that Bitcoin tops $US15,000, adding more than 17% in 24 hours… Ore was Limit Down in China, dropping over 7% as a combo of stockpiles and Leverage crackdown Fears weighed, but Copper is holding Green Stateside, trying to rebound from the recent drubbing. WTI adding small after yesterday’s weakness, but Natty getting smoked for 3.5% ahead of Inventory data later today.