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US Market Report
Good follow on action juiced by headlines. The volumes are not great however at this point they have been low and barely eclipsing
daily average's across most majors. The SP500 continues to lag in this category-concerning but not the end all, be all-the results are still the same.
Remember ALWAYS trade what you see and not what think or want to see, based on your analysis. Question everthing and be sure you do not let your emotions so
the trading for you. The fundamentals of many equity's are horrible but that also means that the short trade is very crowded. In the past the system used that aspect to load people up
on one side or the other and then yank the chain the other way-profiting the entire time. Habbened to this pepe a few times before I got wise to it.
Emotions should not be a part of your strategy for any of this.
A little selling into the close which is to be expected after a run like it has had since sunday night futures action-this is when the rate cut chatter started with the release from JP Morgan etc
Some Business and Financial headlines
U.S. mulls delaying threatened tariffs on Mexican products
WASHINGTON (Reuters) - The United States is considering delaying the imposition of tariffs on Mexican products that President Donald Trump has threatened
to put in place on Monday to allow for more time for talks between the two nations,
Bloomberg News reported on Thursday, citing unidentified people familiar with the matter.
https://www.reuters.com/article/us-usa-trade-mexico-report/u-s-mulls-delaying-threatened-tariffs-on-mexican-products-bloomberg-idUSKCN1T72KC?
Oil climbs sharply
WTI oil recoups some of its Wednesday loss which pushed prices into a bear market.
West Texas Intermediate crude for July delivery CLN19, +2.57% rose 91 cents, or 1.8%, to settle at $52.59 a barrel on the New York Mercantile Exchange.
It had been trading modestly lower just 15 minutes before the settlement.
go figure
https://www.marketwatch.com/story/us-oil-edges-higher-day-after-falling-into-bear-market-2019-06-06?
The Jobs report is Friday and economic reports don't get much more important than this one
Economists expect to see 180,000 jobs added in May, but a much larger or smaller payrolls number could help determine when the Fed will move on interest rate cuts.
Wall Street economists have shifted their view of the Fed, and now expect it to cut interest rates twice this year, with the first in September.
But a weaker number could make the Fed move sooner, and if the number is strong, the market’s expectations for a rate cut could be pushed back.
These same 'economists' missed the boat on the yield curve so take what any academic says with a huge does of skepticism.
https://www.cnbc.com/2019/06/06/the-jobs-report-is-friday-and-economic-reports-dont-get-much-more-important-than-this-one.html
Trade Deficit Decreased to $50.8 Billion in April
The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $50.8 billion in April,
down $1.1 billion from $51.9 billion in March, revised. April exports were $206.8 billion, $4.6 billion less than March exports.
April imports were $257.6 billion, $5.7 billion less than March imports.
https://www.calculatedriskblog.com/2019/06/trade-deficit-decreased-to-508-billion.html
Kirkland’s stock loses almost half its value
https://www.marketwatch.com/story/kirklands-stock-loses-almost-half-its-value-as-trade-war-leads-to-cut-in-earnings-outlook-2019-06-06?
Bonds & Bullion Bid As Investors Buy Defensive Stocks At 2019 Record Pace
The key to trading this market: "empty your mind"…
always has been the key when you are able to arrive at this conclusion…see above about emotions.
China continues to catch down to US and European stocks' liquidity-fueled pumpathon this year. Shanghai Composite broke key support.
How about the second largest yuan printing festival EVERlast night…hmmmm?mmmkay.
This is The Dow's first 4-day win streak since March, the best week for stocks since November, and the best start to June since the year 2000!
'merica-fuck yea!
Dow futures are up a stunning 1200 points from Sunday night's lows.
And Bond vol is exploding…
The peso spiked on headlines about delaying the tariffs (but slid back on reports expecting tariffs to hit)
this will sort itself out and ultimately allow mexico to start buying things from us.
Gold gained for the 7th day in a row…(longest win streak since Jan 2017)
Don't miss the boat here and don't be a part of the herd mentality on your trading.
https://finance.yahoo.com/quote/%5EDJI?p=^DJI
https://www.marketwatch.com/investing/bond/tmubmusd10y?
https://www.dailyfx.com/crude-oil
https://www.zerohedge.com/news/2019-06-06/bonds-bullion-bid-investors-pile-defensives-2019-record-pace
=Hershey Sr. VP sold $4.88m in shared-June 5th
https://www.secform4.com/insider-trading/47111.htm
Axalta Director sold $12.61m in shares-June 3-4
Axalta Coating Systems Ltd. is a holding company. The Company is a manufacturer, marketer and distributor of coatings systems primarily serving the transportation industry. The Company's segments include Performance Coatings and Transportation Coatings. Through its Performance Coatings segment, the Company provides liquid and powder coatings solutions to a fragmented and local customer base. Through its Transportation Coatings segment, the Company provides coating technologies to original equipment manufacturers (OEMs) of light and commercial vehicles. The Performance Coatings segment serves various end markets, including refinish and industrial. The Company develops, markets and supplies a portfolio of coatings systems and color matching technologies. The Company also develops and supplies an array of coatings systems for a range of commercial applications, including heavy-duty truck (HDT), bus, rail and agricultural construction equipment (ACE).
https://www.marketscreener.com/AXALTA-COATING-SYSTEMS-LT-18470253/company/
https://www.secform4.com/insider-trading/1616862.htm
o7
saved that one too
makes me almost want to watch regular tv.
SFO next? many depart from there as well. Many chinese flights too.
sounds like you just volunteered to take the next hand-off.