Index

What a resilient market. From domestic drama in Washington to a dissipating interim “Phase One” trade deal and we still have a fresh record closing high on our hands.
Eurodollar option trades we are monitoring today. This structure caught our attention, as being an interesting value trade that was being executed.
Both the S&P and NQ set fresh record highs ahead of President Trump’s address at the Economic Club of New York. However, his comments lacked the positive jawboning on U.S-China trade that was expected and price action dissipated into the afternoon.
U.S benchmarks snapped back after the open yesterday to pare Sunday night losses. The tape remains firm ahead of the bell today with a speech from President Trump at the Economic Club of New York in focus. The speech is scheduled to begin at 11:00 am CST .
China’s Foreign Ministry announced yesterday that the two sides would agree to roll back tariffs in phases upon signing an interim “Phase One” trade deal. The headlines sound very copasetic, right? The only problem, the U.S had not confirmed this “great news”.
U.S benchmarks are holding at record highs and the risk-environment remains very healthy amid fresh U.S and China trade anecdotes. Expectations are mounting for President Trump and President Xi to sign an interim “Phase One” deal this month.
U.S benchmarks are poised to open higher and extend record levels. The Dow joined the club overnight, achieving its first record high since July 15th. Call it momentum, an upbeat trade narrative, strong earnings, an accommodative Fed or seasonal bullishness.
Trades we are monitoring today. this structure caught our attention, as being one of few value trades that was being executed. It is trading way above its 10-Year average of -0.123 and above is 10-Year average backtest number of -0.164
Stocks have been tested this week and now face one last gauntlet. Nonfarm Payroll came in strong and ISM Manufacturing follows is at 9:00 am CT.
It’s a jam-packed Fed Day and U.S benchmarks are flat looking to the open. Earnings remain in the spotlight when Facebook and then Apple report.