- S&P futures down 0.56%, but off worst levels, in Friday morning trading after the index fell more than 3% in three of the last four sessions and is poised for worst week since the financial crisis in 2008.
- It has only taken six days for S&P to fall more than 10% from a record into a correction, the fastest such turnaround on record.
- Asian markets sharply lower overnight, led by China and Japan.
- European markets under further pressure.
- Treasuries catching another big rally with curve steepening.
- Dollar weaker vs yen but a touch better on euro cross.
- Gold down 0.9% and on track for a weekly pullback despite the marked pickup in risk aversion.
- WTI crude off 2.7%, off worst levels, as oil continues to be one of the hardest hit asset classes on demand concerns.
- S&P bullish sentiment is at 9% and is oversold
- Take a look at the premarket movers as many issues are above today's VWAP a sign of buying
- I am traveling today and will not publish a Daily Note
- If I need to post something regarding Trade Ideas I will on the plane
First Call
First Call February 28, 2020
