Morning Market Report
Futures were lower on Wednesday as investors sought safety in bonds.
'''(see cap#4)
The Japanese yen and Swiss franc in muted trade amid renewed worries over the U.S.-China spat after reports Washington is considering cutting off the flow of American technology to as many as five Chinese companies including Hangzhou Hikvision Digital Technology, the world's largest supplier of video surveillance products, expanding the US crackdown on China beyond Huawei to include world leaders in video surveillance.
The dollar and 10Y yield were unchanged ahead of today's FOMC Minutes.
(Just going to tell us that they don't know and yeaaa they don't know)
Despite the return of trade fears, Europe's Stoxx 600 reversed earlier losses as technology and personal-goods shares advanced, after earlier declining with Chinese equities amid fears of a new front in the trade war. Qualcomm tumbled after a the company lost a landmark anti-trust case, wiping out half of the company's post-AAPL settlement gains.
Asian stocks edged modestly higher, led by utility and technology firms, after falling on Tuesday. Markets in the region were mixed, with India climbing and Japan slipping, its Topix gauge down 0.3%, driven by Takeda and Keyence. China's Shanghai Composite also retreated 0.5%, with Kweichow Moutai and PetroChina among the biggest drags.
Stock and bond markets have been fluctuating as investors try to size up how much damage the trade war will bring to global economic growth and supply chains, while the Trump administration considers adding video equipment to its growing blacklist of sales to China. With traders in wait-and-see mode, the VIX has been retreating and on Tuesday touched its lowest level in almost three weeks.
The VIX is an overcrowded trade with the system unable to pay out on it should it spike and stay there.
See here
What Does the Volatility Index (VIX) Indicate?
https://www.investopedia.com/news/what-does-volatility-index-vix-indicate/
continued
Meanwhile, the Turkish lira languished at the other end of the spectrum, posting the biggest drop among a handful of decliners, as tension between the U.S. and Turkey showed no sign of abating. The currency is also is paying the price for its pre-election efforts to tinker with the markets.
JP Morgan being investigated for manipulation here.
Market Snapshot
S&P 500 futures down 0.35% to 2,855.00
STOXX Europe 600 down 0.03% to 379.40
MXAP up 0.1% to 154.00
MXAPJ up 0.2% to 505.31
Nikkei up 0.05% to 21,283.37
Topix down 0.3% to 1,546.21
Hang Seng Index up 0.2% to 27,705.94
Shanghai Composite down 0.5% to
2,891.71
US Event Calendar
10am: Fed’s Williams Hosts Economic
Press Briefing
10:10am: Fed’s Bostic Makes Opening
Remarks at Dallas Fed Conference
2pm: FOMC Meeting Minutes
In the US it’s quiet until we get to the FOMC meeting minutes.
Oil trade suggests that the cash open may be down about -90 on DOW.
https://www.bloomberg.com/markets/stocks/futures
https://www.dailyfx.com/crude-oil
https://www.marketwatch.com/investing/bond/tmubmusd30y?countrycode=bx
baker from last night-please familiarize yourself with SEC laws regarding stock sales. The amounts that are being sold are well above "normal sales"-your words.
A description was provided to you as well as an summary of how it really works.