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First Call May 11, 2020
- S&P futures down 0.9% in Monday morning trading, near worst levels.
- Follows a big rally in US equities last week led by energy, tech, and consumer discretionary.
- Asian markets mostly higher overnight with Hong Kong, Japan, Australia, and Taiwan the big gainers while China and South Korea lagged.
- European equities mostly lower, giving back earlier gains.
- Treasuries mostly weaker with a bit of curve deepening.
- Dollar seeing good gains on the major crosses, particularly the yen.
- Gold down 0.7%.
- WTI crude down 2.8%.
- Bitcoin had a big reversal down after a new DeMark Sequential Countdown 13
- Adding Coffee long to the Trade Ideas Sheet this morning