First Call July 10, 2020

by | Jul 10, 2020 | First Call

  • S&P futures down 0.5% in Friday morning trading after US equities finished mostly lower in the prior session.
  • Nasdaq bullish sentiment 20-day moving average is at 85% and the last three times this occurred a correction of >10% happened shortly after
  • Asian equities lower overnight with China a laggard, down nearly 2%, snapping a big eight-day winning streak.
  • European equities mostly higher.
  • Treasuries extending their rally with more curve flattening.
  • Dollar weaker vs the yen while also softer on the euro cross.
  • Gold up 0.5%.
  • WTI crude down 1.3%.
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