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First Call July 27, 2020
- S&P futures up 0.5% after the major US indexes all finished lower last week with growth and momentum factors extending their recent underperformance.
- Asian equities mixed overnight with Taiwan rallying to a record high on TSM strength, Korea, Australia, and mainland China seeing moderate gains, and Japan and Hong Kong lower.
- European markets mostly weaker with travel stocks under pressure as the UK imposed a quarantine on travelers from Spain.
- Treasuries firmer with some curve flattening.
- Dollar weaker on the major crosses, hitting the lowest level since September 2018 overnight.
- Gold up another 1.9% (and hitting a new all-time high).
- WTI crude up 0.7%.